May 2016 Market Report

Austin’s booming tech market is having multiple positive side effects on Central Texas. Not only are we experiencing record home sale highs, unemployment in the Austin-Round Rock area recently hit a 16-year low.

The Austin Board of REALTORS® recently released the Market Report for May 2016, and there was good news all around.

The number of single-family homes sold was up 10% over last year, while the average number of days a house was on the market dropped down to 40 days.

Aaron Farmer, 2016 President of ABoR, commented on the robust housing market, saying, “Strong gains in both pending sales and active listings both in Austin and regionally indicate a strong summer selling season could be ahead. A Central Texas REALTOR® can provide in-depth market expertise to help homebuyers and sellers navigate competitive housing market conditions.”

Another good sign for sellers – is that the median price for single-family homes is up 5% over last year, now $288,085. The infographic below (courtesy of ABoR), gives a colorful illustration of the report’s full statistic.