The Austin Metro continues to set new all time records for home sales. The number of sales in April was up 15{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0} percent compared to April of last year. The median price of $320-thousand also sets a record.
That’s a far cry from the near 10{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0} price jumps the metro’s seen in recent years. but the Austin Board of Realtor’s Steve Crorey says that’s called stabilization and it’s not a bad thing.
He said “We need to take a little bit of a breather, even if its a slight increase or even a down. And I think that’s happening now with the stabilization of the price point.”
Crorey credited the stabilization to what’s happening in what he calls Austin’s Eastern Crescent, the stretch of 130 from Georgetown to Buda. He explained developers are taking advantage of the available land and building smaller, for a cheaper price point. Crorey expects this area to see continued expansion.
From north to south in Georgetown, the number of home sales grew by 15.5{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0} with the median growing by 9{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0} to $278-thousand. In Hutto the number of home sales shot up by 65{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0}. Its median home price now holds near $233-thousand, growing by 6.5{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0}. While in Manor home sales grew by 30{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0}, its median home price jumped by 7{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0} to $217-thousand.
Looking at other markets, the City of Austin proper median home price is stabilizing, growing at 1.1{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0} to $394-thousand, the number of sales grew by 3.7{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0}.
Round Rock Home price growth beat Austin’s but not by much, looking at 2{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0} with the median home running $280-thousand. the number of home sales grew by 3{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0}.
And Pflugerville, The number of home sales rocketed up by 22{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0}. the median home price hit near $263-thousand, growing by 5{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0}.
(Photo:Shutterstock/stockcreations)
