Year-End 2017 Market Report

[David Ivy]

The December 2017 Central Texas Housing Market Report is out from the Austin Board of REALTORS®. It was another record-breaking year for total homes sold, beating 2016 by 2.4%. Home prices increased 5.4% in 2017 in the Austin-Round Rock MSA. In the city of Austin, the median price for single-family homes hit an all-time high at $362,000 annually, and sales increased by 2.5% over the same period. Despite breaking records, the Austin market consistently displayed signs of a turn toward normalization and an eventual end to the currently extreme seller's market. The new ABoR president, Steve Crorey, said that,

Here are the basic stats on single-family home sales for December 2017 for the City of Austin and the greater Austin area:

Inventory and affordability remain major constraints:

I'm incredibly excited to see what 2018 has in store for the Austin area market!