City of Austin median home price hits all-time high

​​​​AUSTIN – The median price of a single-family home reached an all-time high of $407,400 in the city, according to the Austin Board of Realtors (ABOR).

But at the same time, the May 2019 report shows declines in the city for both new and active listings, as well as a 3.4 percent drop in home sales. The same wasn’t true, however, for the surrounding areas, which all experienced strong gains.

"A lack of middle-market housing in the City of Austin is driving demand to the suburbs," said Kevin P. Scanlan, 2019 ABOR president. "While the Central Texas housing market is healthy and thriving, Austin continues to struggle with housing options that are affordable for first-time homebuyers as the median price surpasses $400,000." 

Across the metro, 3,452 single-family homes were sold for a median price of $335,095. Sales volume totaled $1.5 billion, up 15 percent from May 2018.

There were 2.6 months of inventory in Central Texas. The Real Estate Center considers six- to 6.5-months of inventory a balanced market. ​