The latest housing data from the Austin Board of Realtors released today reveals that the Northwest Austin market is faring better than the city of Austin as a whole.
While single-family home sales in the city of Austin have remained flat year over year in August with 901 total closings, home sales in Northwest Austin increased nearly 40 percent with 195 closings, according to ABoR data.
The median price of a single-family home sold in Northwest Austin—defined by Community Impact Newspaper as the ZIP codes of 78726, 78727, 78729, 78750, 78758 and 78759—was at $360,000 in August, a 1.7 percent drop from August 2017.
In the city of Austin, the median price of homes surged 9.2 percent to $393,000. In Southwest Austin, median home prices climbed 12 percent to $382,000.
Overall the five-county Austin-Round Rock metropolitan area saw a 10.5 percent increase in the total dollar volume of single-family homes sales to $1.2 billion, making August 2018 the highest grossing month of August on record.
“Last month’s housing market activity shows little evidence that the market is slowing as we move into the fall,” ABoR President Steve Crorey said in a news release. “More homes are entering the market and pending sales growth remains strong year over year.”
Crorey also noted in the release that despite the increase in area housing stock, the months of inventory—the amount of time it would take to sell all the homes currently on the market with no new homes being added—has remained flat or is declining.
Here’s a look at how Northwest Austin compares to other areas in the Austin metro area: