According to the Austin Board of Realtors, the number of homes sold in Georgetown decreased 28.4 percent year-over-year in January.

The Central Texas Housing Market Report released Thursday also said the city's median home price rose 5.4 percent to $255,000 compared with January 2016. The new report explores housing market statistics and trends throughout the Austin-Round Rock Metropolitan Statistical Area as well as Hays, Travis and Williamson counties and the city of Austin.

The number of single-family homes sold in the Austin-Round Rock MSA increased 7 percent year-over-year in January 2017 to 1,549 home sales. In the city of Austin, single-family home sales jumped 9.8 percent annually to 469 home sales during the same time frame, according to the report. Housing inventory levels remained largely flat in January, increasing by 0.1 months to two months of inventory. Housing inventory levels in Williamson County and other area markets are now on pace with housing inventory levels in the city of Austin.