This summer strongest on record for Austin housing

​​​​AUSTIN – The 2017 Central Texas summer selling season was the strongest on record for single-family home sales and median price across the Austin-Round Rock Metropolitan Statistical Area (MSA).

In August, area single-family home sales increased 1 percent year over year, and the median home price rose 4 percent to $300,000, according to the Central Texas Housing Market Report released by the Austin Board of Realtors.

“The Austin-Round Rock MSA looks like it is moving toward a more normalized housing market," said Real Estate Center Chief Economist Dr. Jim Gaines. "Similar to what we’re seeing across the state, housing inventory levels are slowly increasing, despite continued increases in sales volume and median price. That could indicate that in the latter half of 2017, we will likely experience some slowing of the home price increases that have become common in recent years — not price decreases, as the relationship between home buying and selling activity begins to balance out.”   

Single-family home sales in Austin proper jumped 6.1 percent year over year to 927 home sales, while median price jumped 2.7 percent year over year to $361,000.

Additionally, for the fourth time this year, single-family home sales dollar volume topped $1 billion in a single month within the five-county area, an increase of 5.9 percent from August 2016.​​