The 2018 spring season was the strongest since 2013, with transactions up significantly over the prior 4 years. Some highlights:
- List and sold prices are up slightly over the same period in 2017, $ / sq ft is fairly consistent with last year
- Days on market is down significantly at roughly 20 days vs. 52 in 2017
But you can see the number of transactions is falling behind the pace of record year 2013, and the gap gets more pronounced as the year goes on. I think this is at least partly due to the lack of available inventory. As I have mentioned before, active listings are well behind past years. Nearby is a graph that shows active listings by month, 2018 YTD, last year and then 2013 (the most active year for transactions in the last 10).
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.