ABOR: Spring has arrived in Central Texas

​​AUSTIN – Area Realtors sold more homes last month than in any February on record, according to the Austin Board of Realtors’ (ABOR) February 2019 Central Texas Housing Market Report.

Central Texas home sales increased 6 percent over the year to 2,101 sales. This indicates that the spring selling season may have started early this year. 

"We’ve been hearing from our members that buying and selling activity has really picked up over the past month," said ABOR President Kevin P. Scanlan. "We’re seeing a lot of development in North Austin as major tech employers are looking for space with ample room for housing development and access to major transportation arterials. Mobility has become such a problem that employees want to live closer to where they work if they can afford to move.”​

Across the metro, the median home price decreased by 0.3 percent from $296,000 in February 2018 to $295,000. 

​New listings rose 7.3 percent to 3,015, and active listings increased 18.9 percent to 5,858. Pending sales increased 16.6 percent to 2,715. ​​

Inventory increased 0.3 months to 2.3 months of inventory. The Real Estate Center considers a six- to 6.5-month inventory a balanced market.