Austin-Round Rock home sales top $1 billion in May

​​AUSTIN – Single-family home sales volume had strong gains last month, while home sales dollar volume topped $1.2 billion and set an all-time high for sales dollar volume.

The Austin Board of Realtors reports that single-family home sales volume increased 9 percent year-over-year to 3,170 in the Austin-Round Rock MSA and 9.7 percent year-over-year to 993 in the City of Austin.

Coupled with rising home prices, this recent surge in home sales activity made May 2017 the highest-grossing month for Central Texas real estate in the region’s history. For the first time this year, single-family home sales dollar volume topped $1 billion in a single month within the five-county area.

The median price increased 8 percent year-over-year to $310,000 in the Austin-Round Rock MSA and 8.6 percent year-over-year to $380,000 within Austin’s city limits.

In the Austin-Round Rock MSA, active listings jumped 22 percent year-over-year to 6,972; new listings jumped 15 percent year-over-year to 4,369; and pending sales rose 7.7 percent year-over-year to 3,437.

Housing inventory increased 0.4 months annually to 2.8 months across the five-county MSA. Within the City of Austin, monthly housing inventory rose 0.2 months year-over-year to 2.1 months of inventory.​