Here are the March/2019 MLS single-family statistics for Austin, TX:
The volatility of our Austin home sales market continues in the 1st quarter of this year. March was the 1st month since last December that both prices dropped...you have to go all the way back to Jan/2012 (over 7 years) to find the next month that happened. For the quarter: listings, inventory and days on market all went into the negative category. Remember, the color coding we use is from the perspective of home sellers since without homes to sell we have no inventory for buyers to purchase. However, March is the first month this year where we didn’t have a dark red (ie-10+% negative trend) category, so maybe that will foretell more positive trends in the coming months. We did have our 2nd month where pending listings (ie-have contract but not closed) were dark green, or 10+% positive-trending.
As you can see from the 1st quarter averages above, we still maintain a slight increase in home prices; good numbers for pending sales (which is a future indicator of the market); and a small increase in sales when comparing to last year’s numbers. Listings and inventory are concerning due to their 10+% negative trend. However, to keep things in perspective, 2.8 months of inventory (the number of months it would take to sell all homes for sale at the current sales price) is still very low and well below the standard of 6+ months to be considered a buyer’s market. So, sellers still call the shots...for the meantime, at least.
Contact the Thomas & Kauffman Team today if you would like to buy or sell a home in the Austin metro area - (512) 730-1252 or info@AustinTxHomeSales.com.
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