Austin housing market sets sales record for August

The Austin Board of Realtors released new monthly housing data on Tuesday and, surprise, August was another one for the record books.

There were 3,034 sales of single-family homes across the five-county metro last month as the median price increased to $322,478, up 8.2 percent year over year. That's the third-highest median price ever recorded in the metro, according to the Austin American-Statesman, behind $326,250 set in June this year and $325,000 set in May.

Keller Williams Realty Southwest Market Center has outperformed the Austin Board of Realtors membership. Keller Williams SWMC has been chosen more often by home sellers to sell their homes. Winning 14% more residential listings then their ABoR counterparts.

As reported in the Austin Business Journal, other quick takeaways:

Metro

• The total value of homes sold in August surpassed $1.208 billion, the best August on record

• There were 2,798 pending sales in August, up 12.1 percent year over year; active listings increased 4.2 percent to 7,887; and new listings jumped 16 percent to 3,741 listings

• Inventory was unchanged year over year at 3.1 months; experts from the Real Estate Center, say inventory levels around 6.5 months supply should be targeted.

• There have been 24,153 sales so far this year of all home types in the Austin metro, up 3.8 percent from this point in 2017, meaning the region is on pace for another record year.

Travis County

• Sales inched up 1.1 percent year over year to 1,449 but sales volume grew 8 percent to $699.4 million

• Median price for single-family homes jumped 7.2 percent to $375,000

• Housing inventory hit 2.9 months, down from three months.

Williamson County

• Home sales jumped 7.3 percent year over year to 1,089 and sales volume grew 13.9 percent to $347.2 million

• Median price for single-family homes hit $294,612, up 7.2 percent

• Housing inventory remained unchanged at three months.