The median price for single-family homes in Northwest Austin rose 7.3 percent to $323,000 in February compared to February 2016, according to data released today from the Austin Board of Realtors.
While most of the Austin area saw stagnant or declining growth in home sales, the number of single-family home sales in Northwest Austin rose 3.5 percent in February compared to the same time last year.
However, ABoR President Brandy Guthrie said a slowdown does not mean the marketing is softening because 2016 was a very strong year for real estate.
“Low inventory levels, high home prices and slowing job growth across the region are preventing a resurgence of the record-breaking numbers experienced the last two years, but overall the region’s housing market remains very strong,” said Mark Sprague, state director of information capital for Independence Title in a statement. “The Central Texas housing market is normalizing into a more stable market.”
See how Northwest Austin compares with other jurisdictions.