Posted over 6 years ago

Austin Real Estate Market Statistics 2018

Austin is the capital of Texas and it is growing at a fast clip. The Austin housing market isn’t the largest in the state of Teaxs, but there are a number of reasons to consider buying real estate in this city. The Austin real estate market has gained a lot of steam, with home values almost doubling since 2010. The Austin real estate market isn’t as big as Dallas, San Antonio or Houston. (Austin is only the fourth largest city in the state.) However, the Austin housing market is sizable – it is the eleventh largest city in the U.S. as of this writing, and it is the center of a large metro area. Austin has come up as another tech hub in last 5 to 6 years. There are tons of high paying tech jobs moved to Austin in last couple of years. The Austin-Round Rock metro area is home to about two million people. Recently Austin was ranked eighth for the best real estate markets, topping all other big Texas cities. Since the local economy is growing rapidly, Austin’s housing market is also booming in 2018.

Austin Home Prices Trend 2018

Latest Austin real estate market trends show a 2% week-over-week rise in average listing price and a -1% drop in median rent per month. A new report from Trulia ranks Austin among 10 U.S. markets where list prices have stalled over the past year. The Austin-Round Rock metro area ranks second on the list, with a median home price decrease of 3.4 percent over the past year.

Trulia has 4,397 resale and new homes for sale in Austin. These include open houses, and homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average house price in Austin is $513,354. The average house rent in Austin is $1,925.

In the first half of the year, area home prices in Austin continued to increase and housing inventory levels slowly declined amidst strong housing demand. The Austin-Round Rock area sold 3,299 single-family homes in the month of June, down from 3,415 in 2017. Even with the decline, however, the median price for a single-family home in Austin still rose 4.9 percent year-over-year to $326,250.

In the city of Austin, single-family home sales in the first half of the year edged upward 1.3 percent year-over-year to 4,757 sales and the median price for a single-family home increased 3 percent to $375,760. During the same period, active listings decreased 10.1 percent to 1,279 listings; new listings decreased 3.9 percent to 6,458 listings; and pending sales rose 2.7 percent to 5,248 sales.

Top 10 Areas With The Lowest Cost of Living in Austin – (List by Niche.com & prices by Livability.com)

Redwood, Texas – Located in Guadalupe County. The median income in Redwood , TX is $47,778 and the median home value is $54,700.
Lockhart, Texas – Located in Caldwell County. The median income in Lockhart , TX is $48,884 and the median home value is $115,400.
Martindale, Texas – Located in Caldwell County. The median income in Martindale , TX is $43,929 and the median home value is $151,200.
Uhland, Texas – Located in Hays County. The median income in Uhland , TX is $40,662 and the median home value is $78,100.
Taylor, Texas – Located in Williamson County. The median income in Taylor , TX is $42,793 and the median home value is $116,600.
Lago Vista, Texas – Located in Travis County. The median income in Lago Vista , TX is $75,126 and the median home value is $189,400.
Elgin, Texas – Located in Bastrop County. The median income in Elgin , TX is $50,369 and the median home value is $104,000.
Hornsby Bend, Texas – Located in Travis County. The median income in Hornsby Bend , TX is $49,077 and the median home value is $123,000.
Round Rock, Texas – Located in Williamson County. The median income in Round Rock, TX is $72,412 and the median home value is $179,900.
Wimberley, Texas – Located in Hays County. The median income in Wimberley , TX is $59,167 and the median home value is $214,600.