Here are the December/2019 MLS single-family statistics for Austin, TX:
As you can see above, we finished 2019 with a bang as December had all green categories and 6 of the 8 were dark green (ie-10+% positive trending...this is from the perspective of a home seller). In fact, Sep-Dec/2019 all had impressively similar results of 5-6 green categories at a time in our real estate season when things typically begin to slow down. Keep in mind that we are comparing each month to the same month of the previous year so these results show the strength of our Austin market.
In March, 2020 we will be starting our 10th successive year as a seller’s market (ie-less than 6 months of inventory) since we crossed that threshold in March of 2011 after the Great Recession. Quite remarkable given the fact that Austin’s full real estate cycle (ie-from buyer’s market to seller’s market and back to a buyer’s market) generally runs for 7-8 years.
Austin is one of only eight U.S. metro areas to have fully recovered in the last 10 years to pre-recession values, Mark Sprague, state director of information capital at Independence Title, said.
For all of 2019, we ended up selling 33,084 homes which was a 7.2% increase over 2018’s numbers and a new record for total home sales in Austin for any given year. When you compare 2019 numbers to 2010 the number of home sales in Austin increased by an incredible 84%. And, our total sales volume was almost $13.2 billion (+10.9% over 2018)...also a record year in Austin.
And, when you compare the statistics for the full years of 2019 and 2018 you can clearly see that last year was a big improvement overall. Most economists are forecasting another big year for Austin real estate in 2020.