Austin's hot real estate market isn't cooling off. The latest report from the Austin Board of Realtors shows big increases in the typically slow month of January.
Single-family home sales in the Austin-Round Rock area grew by an impressive 7 percent year-over-year. All together, the 1,549 homes sold last month equaled nearly $552 million in sales, an almost 20 percent increase from January 2016. In Austin proper, home sales jumped 9.8 year-over-year.
Prices are rising too. The median home price in the metro area grew to $279,990, up 9.8 percent from last year. Part of that is due to inventory — the less houses on the market, the higher the demand and the higher the price. In fact, home inventory in outlying communities like Williamson County is now on par with urban Austin.
