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January 2019
Austin Real Estate
Market Report
A comprehensive report on the
Austin and Central Texas real estate market.
Volume 1, Issue XIV
Year to data sales in Austin are higher than the twelve previous years, showing stable demand and steady
market.
Year to Date Sales – January 2019
1
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WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2018 All Rights Reserved.
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
The chart below follows the trends of numbers of homes sold during any given month. Last month there were 2,312
homes sold in Austin, Texas.
Homes Sold per Month – December 2018
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WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2018 All Rights Reserved.
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec.
2018
2017
2016
2015
2014
2013
2012
2011
The chart below tracks the number of Pending Sales in the market. These are homes that are Under
Contract that have yet to close. This month there are 2,598 homes Pending in Austin, Texas. The number of
pendings is lower than any of the previous six years.
Pending Sales per Month – January 2019
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WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2018 All Rights Reserved.
0
1000
2000
3000
4000
5000
6000
Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec.
2019
2018
2017
2016
2015
2014
2013
2012
TOP
Overall we are in an Extreme Seller’s Market with 2.78 months of inventory. On average, home prices are showing
High Appreciation for the year. However, the Market is different based on demand and the number of homes for sale
in each price range. Homes valued under $2,000,000 are in a Normal or Extreme Seller’s Market.
Home Sales by Price Band-
January 2019
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WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2018 All Rights Reserved.
Price Range # of Solds Active ListingsMonths of
InventorySold % of List Market
$0-$100k 28 53 1.89 93.25% Extreme Sellers Market
$100-$200k 205 298 1.45 98.72% Extreme Sellers Market
$200-$300k 909 2068 2.28 98.12% Extreme Sellers Market
$300-$400k 519 1516 2.92 97.94% Extreme Sellers Market
$400k-$500k 263 761 2.89 98.31% Extreme Sellers Market
$500-$600k 143 506 3.54 97.52% Normal Seller's market
$600-$700k 82 303 3.70 96.58% Normal Seller's market
$700-$800k 43 197 4.58 97.34% Normal Seller's market
$800-$900k 36 138 3.83 97.13% Normal Seller's market
$900-$1M 18 102 5.67 97.58% Normal Seller's market
$1-$2M 55 311 5.65 95.10% Normal Seller's market
$2-$3M 4 83 20.75 95.75% Extreme Buyer's Market
$3M< 1 77 77.00 98.91% Extreme Buyer's Market
Overall MKT 2306 6413 2.78 97.10% Extreme Sellers Market
12+ Months of Inventory Extreme Buyer's Market High Depreciation
9-12 Months of Inventory Normal Buyer's Market Moderate Depreciation
6-9 Months of Inventory Balanced Market Flat/Moderate Depreciation
3-6 Months of Inventory Normal Seller's Market Moderate Appreciation
0-3 Months of Inventory Extreme Sellers Market High Appreciation
The chart below follows the trends of the number of homes for sale during any given month. At the beginning of
January there were 6,428 homes for sale in Austin, Texas. There are 7.17% MORE homes for sale than last year at
this time.
Homes For Sale – January 2019
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WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2018 All Rights Reserved.
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
2019
2018
2017
2016
2015
2014
2013
2012
2011
Home Sales by Zip Code-
December 2018
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WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2018 All Rights Reserved.
Central Austin
78701
78704
78705
Northwest Travis Co.
78730
78732
78734
78738
Northwest Austin
78717
78727
78731
78750
78759
North Austin
78751
78752
78757
78758
West Austin/Westlake
78703
78733
78735
78746
Southwest Austin
78739
78749
East Austin
78702
78722
78723
Zip Code# of
Solds
Active
Listings
Months of
Inventory
Median Sales
priceSold % of List Avg DOM
78701 13 85 6.54 $ 513,000 97.30% 84
78702 29 59 2.03 $ 460,000 96.85% 35
78703 14 47 3.36 $ 1,024,000 96.23% 47
78704 37 93 2.51 $ 615,000 97.18% 54
78705 3 10 3.33 $ 560,000 104.36% 41
78717 34 21 0.62 $ 381,604 98.50% 53
78722 1 7 7.00 $ 835,000 98.24% 32
78723 30 47 1.57 $ 395,177 97.51% 47
78727 15 18 1.20 $ 327,450 96.61% 37
78730 5 13 2.60 $ 550,000 98.46% 71
78731 28 47 1.68 $ 747,000 96.91% 81
78732 18 33 1.83 $ 455,250 97.83% 49
78733 11 16 1.45 $ 664,900 98.34% 83
78734 28 105 3.75 $ 450,495 95.89% 74
78735 13 41 3.15 $ 505,000 96.09% 55
78738 54 187 3.46 $ 553,600 97.94% 80
78739 29 46 1.59 $ 450,000 98.47% 30
78746 21 60 2.86 $ 1,027,000 95.60% 80
78749 25 25 1.00 $ 375,000 88.86% 27
78750 21 22 1.05 $ 500,000 98.04% 52
78751 13 19 1.46 $ 480,000 96.71% 45
78752 5 14 2.80 $ 410,000 99.23% 45
78757 28 28 1.00 $ 502,500 98.12% 52
78758 19 19 1.00 $ 284,250 96.99% 32
78759 27 31 1.15 $ 510,000 97.79% 47
12+ Months of Inventory Extreme Buyer's Market High Depreciation
9-12 Months of Inventory Normal Buyer's Market Moderate Depreciation
6-9 Months of Inventory Balanced Market Flat/Moderate Depreciation
3-6 Months of Inventory Normal Seller's Market Moderate Appreciation
0-3 Months of Inventory Extreme Sellers Market High Appreciation
Absorption Rate:
Months of Inventory in Austin 2011-2018
9
The Absorption Rate, also called “Months of Inventory,” is the best indicator of how fast or slow home values are moving
up or down. The formula is the number of homes on the market divided by the number of homes sold in the prior month.
With 6 to 9 months of inventory, the market is called Balanced, and home values remain stable with slight decreases or
increases possible. Below 6 months is called a Seller’s Market, as home prices slightly increase due to demand.
Mo
nth
s o
f In
ve
nto
ry
WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2017 All Rights Reserved.
Extreme Seller’s Market
Normal Seller’s Market
Balanced Market
Buyer’s Market
0
2
4
6
8
10
12
2018
2017
2016
2015
2014
2013
2012
2011
We monitor interest rates because they directly affect buying power. The higher the rate, the more it costs for a buyer to buy.
When interest rates rise, it has the same effect as a seller raising his price and fewer homes sell because mortgage payments are
higher. Conversely, when rates decrease more buyers qualify to purchase and home sales usually increase. The chart below
tracks mortgage rates for the past 18 years. Mortgage rates have remained fairly consistent over the last several years, however
they are starting to show signs of increasing.
Mortgage Rates - 18 Year Summary
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Current Rates
Conforming 30 yr: 4.375% Jumbo* 30 yr: 4.125%
Conforming 15 yr: 3.895% *(over $421K loan amount)
WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2018 All Rights Reserved.
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
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30 Year Rate
15 Year Rate
Jumbo Rate
The chart below follows the trend of average and median sales price per year. Last month the average sales price was
$372,381. The median sold price was $303,000 last month. The average sales price in December is down 1.01% and
the median sales price is down 2.26% from one year ago.
The chart below shows the annual average and median Austin home sold.
Average and Median Sold 19 Year Summary
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WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2018 All Rights Reserved.
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Average
Median
Of the homes that sold last month, the average amount of days they had been on the market was 61 days. This is the
same number of days as a year ago.
Average Days on Market 2011-2018
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WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2018 All Rights Reserved.
30
40
50
60
70
80
90
100
Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec.
2018
2017
2016
2015
2014
2013
2012
2011
Laura Duggan,
Broker/Owner
REALTOR® CRB, CRS,
CIPS, CLHMS
MILLION DOLLAR GUILD
AUSTIN NATIVE
Direct: (512) 750-2425
Email: [email protected]
Katy Duggan-
Freshour,Broker/Realtor ®
CRS, CLHMS
MILLION DOLLAR GUILD
Direct: (512) 826-4316
Email: [email protected]
For five decades and three generations, West Austin Properties has been passionately committed to the core values that guide it.
• Highest integrity in every relationship.
• Unsurpassed knowledge of Austin and the ever changing real estate market.
• Educating and empowering our clients so that they can make decisions that best meet their unique needs.
• Focus on the people and not the real estate; the quality of our service not the volume of our business.
• Build on the strengths and talents of our team’s generational blend.
• Improving our community through service and mentorship.
13
WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email [email protected] © Copyright 2018 All Rights Reserved.
Ted Smith,
Realtor ®
Direct: (512) 766-4484
Email: [email protected]
Kimberly
Kohlhaas,Realtor ®
Direct: (512) 947-1007
Email: [email protected]
Kerry Cameron,
Realtor ®
Direct: (512) 423-4840
Email: [email protected]