Single-family home sales surged in the Austin-Round Rock metropolitan statistical area during the first half of 2019, according to a report released July 17 by the Austin Board of Realtors.
In particular, suburbs of Austin saw strong year-over-year growth, according to ABoR President Kevin P. Scanlan.
“As Austin continues to be one of the most desired cities to live in the United States, the suburbs are benefiting from this demand,” Scanlan said in a July 17 news release.
Scanlan said an influx of residents moving to Austin paired with the city’s limited housing availability has led to increases in suburban home sales.
Pflugerville housing sales saw year-over-year increases in new residential, single-family and condominium construction projects, resulting in 80.5%, 150.6% and 142.9% year-over-year increases, respectively.
For Round Rock, townhouses were the most popular listings this year to date, resulting in eight closed sales and a 60% year-over-year increase. For new construction projects, the report revealed a 12.5% increase in residential construction projects, along with a 23% increase in single-family housing plans.
In the city of Hutto, new construction for residential and single-family projects increased by 180.8% each, per the report.
Metrowide, single-family home sales increased by 4.3% year over year, resulting in 16,203 home sales during the first half of the year, per the report. The median home price in the Austin-Round Rock MSA increased 1% year over year, now listed as $315,000.
From January to June, more than 22,000 new listings were added, corresponding to a 1% increase. In addition, 6,282 active listings and 18,180 pending sales have been added, resulting in 4.8% and 7.9% increases, respectively.