Single-family home sales increase across Austin-Round Rock MSA, decline in city of Austin in October
Single-family home sales increased across the Austin-Round Rock Metropolitan
Statistical Area (MSA) in October, but declined in the city of Austin, according to the October 2017 Central Texas
Housing Market Report released today by the Austin Board of REALTORS®.
Brandy Guthrie, 2017 President of the Austin Board of REALTORS® commented, “The Austin-Round Rock
housing market continues to slightly outperform last year’s home sales activity, keeping 2017 on-pace for
another record year for home sales. At the same time, low housing inventory levels along with constrained
housing development activity throughout the city of Austin are preventing home sales growth at the city level.”
Single-family home sales in the Austin-Round Rock MSA increased 2.2 percent year-over-year to 2,292 home
sales in October 2017. During the same time frame, single-family home sales in the city of Austin declined 1.7
percent to 699 home sales. At the county level, home sales volume increased 1.4 percent year-over-year to
1,124 home sales in Travis County, increased 5.4 percent to 794 home sales in Williamson County, and increased
6.2 percent to 274 home sales in Hays County.
Housing inventory levels continued to edge upward across the five-county MSA in October, increasing 0.2
months to 2.8 months of inventory. In the city of Austin, single-family housing inventory increased 0.1 months to
2.3 months of inventory. Housing inventory levels across the region continue to be well within a seller’s market,
compared to the Real Estate Center at Texas A&M University’s estimation of 6.0-6.5 months of inventory as a
balanced housing market.
Gains in housing inventory throughout 2017 have been partially driven by strong housing development
throughout much of the region. The Q3-2017 Austin Housing Report by Metrostudy released last month
reported that new home starts in the trailing 12 months ending September 30, 2017, are at a 10-year high, with
a majority of housing development activity concentrated in local markets surrounding Austin such as Pflugerville
and the west side of Cedar Park/Leander.
“Developers and builders are beginning to experiment with lower-cost, higher-density products between
$200,000 and $300,000 in suburban markets, where products like townhomes and smaller single-family homes
can be built more easily,” said Vaike O’Grady, Austin Regional Director for Metrostudy. “Shortages of vacant
developed lots and regulatory hurdles in Austin make it difficult for meaningful housing development activity to
occur within Austin’s city limits.”
Home prices continued to rise at a steady pace in October 2017. The median price for single-family homes
increased 4.3 percent to $286,742 across the Austin-Round Rock MSA and increased 9.1 percent to $360,000 in
the city of Austin during October.
“Next to CodeNEXT, the City’s selection of a new city manager will have the single-greatest impact on the
direction of our region’s future and the sustainability of Austin’s housing market, so it’s critical that local
community stakeholders and business leaders have the opportunity to weigh in on this important decision,”
concluded Guthrie. “Austin deserves a city manager who isn’t afraid to tackle the issues impeding our city’s
development with bold strategies and creative solutions. The Austin Board of REALTORS® will look to our new
City Manager to put a leadership team in place that will bring the cultural and operational changes needed to
For more information on the October 2017 Central Texas Housing Market Report, go to ABoR.com/statsoct17.
The Austin Board of REALTORS® (ABoR) builds connections through the use of technology, education and
advocacy to strengthen the careers of its 11,000 members and improve the lives of Central Texas families. We
empower Austin REALTORS® to connect their clients to the region’s most complete, accurate and up-to-date
listings data. For more, contact the ABoR Department of Public Affairs at email@example.com or 512-454-7636.
For the latest local housing market listings, visit AustinHomeSearch.com.