Austin median home price reaches all-time high for September

​​​​AUSTIN – An 11.9 increase in the metro’s home sales has driven the local median home price to $406,000, an all-time high for September.

The Austin Board of Realtors (ABoR) recorded 2,654 home sales in September 2019, a 13.4 percent increase from last year. Total sales volume jumped 19.6 percent to $1.06 billion.

New listings increased 9.5 percent year over year to 3,047. Active listings decreased 11.7 percent to 6,686.

During the same period, the metrowide monthly housing inventory dropped 0.4 months to 2.5 months of inventory. The Real Estate Center considers six- to 6.5-months of inventory a balanced market.​

​"The adverse effect of low housing stock within the Austin area is higher home prices,” said 2019 ABoR President Kevin P. Scanlan. "As the anchor city of our region, Austin and its land use code directly impact Central Texas’ ability to meet buyer demands for more housing that’s affordable. Austin has to get our new land use code right and needs to do it sooner rather than later."

The Real Estate Center has more information on housing:​