The following update reflects numbers through June 30, 2018, along with previous years through the same date for comparison. A few highlights from the table below are summarized here:
- Number of transactions is still down from 2017 and 2016 but remains ahead of the 2014 and 2015 pace
- Median sold prices are down compared to the same period in 2017 ($1.072M vs. $1.257M), but are actually in line with 2017 overall (which ended up at $1.077M for the year)
- The median sold $ / sq ft is up 3% vs. 2017 at $357 / sq ft
- I noted last month that some of the decline in the overall sale prices may be driven by smaller homes selling. This continues to be the case, with the median size down ~13% vs. the same time in 2017)
- Median days on market of 30 days still indicates strong demand in the neighborhood
The real story so far in 2018 is the decline in active listings. The neighborhood is following the same trends as the last couple of years, but at much lower levels of inventory. Whereas in 2016 and 2017, monthly active listings through June averaged 28, in 2018 that number has dropped to 17, a decline of roughly 40%.
If you want to make sense of what’s going on in the market, or would like a better understanding of what your own home is worth, please contact me and I’d be happy to help you.
Note: All data comes from the Austin Board of Realtors’ MLS report, reflecting activity through June 30, 2018.
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