Home sales throughout the Austin-Round Rock metro area showed signs of a seasonal stall in September with cooler weather, according to data released Tuesday by the Austin Board of Realtors.
In September year-over-year single-family homes sales dropped 0.9 percent in the Austin metro compared to September 2017, and sales dropped nearly 10 percent in Northwest Austin.
However, the slowing of single-family sales has not worried ABoR officials because year-to-date sales remain strong. In Northwest Austin those sales are up 3 percent year-to-date and up by 3.6 percent in the metro, according to ABoR data.
“Austin-area housing market activity has bucked the trend of a cool-weather slowdown over the last several years, maintaining much of the momentum from the summer months through the end of the year,” 2018 ABoR President Steve Crorey said in a news release. “Home sales growth declined 5 percent last September, so it’s good to see that the area housing market held steady in September 2018. Austin continues to be one of the fastest-growing markets and most competitive housing markets in the country.”
Months of inventory, the amount of time it would take to sell all the homes currently on the market if no new homes came online, remains at three months for the metro and at 1.8 months for Northwest Austin. In the city of Austin, months of inventory is at 2.1 months.
Median home prices also remained stable in Northwest Austin with no change in September compared to September 2017. Pries also remained stable in the city of Austin and increased 3.3 percent year-over-year.