Austin Real Estate Market Update – July 2019
It’s hard to believe that it’s August 2019 already! If you plan on buying a home in Austin Texas this article will provide you with a breakdown of how the ATX real estate market did in July.
Average Sales Price
Right now, the average sales price for a home in Austin Texas is $396,110. This is an increase of close to 4% from July of 2018.
Before buying a home in the ATX area make sure that you’re pre-approved for a mortgage loan because pre-approval will help your offer to stand out from other home buyers who may not have been pre-approved for mortgage loans.
Last month we saw 3,752 units sold in the ATX area. This is a 1.08 increase from Jul 2018. One of the possible reasons we saw more units sold could be due to continued low mortgage interest rates and the fact that the Federal Reserve has said that they won’t raise interest rates this year.
Days on Market
In July 2019, the average home spent just 52.31 days on market. This is a slight increase of 2.15 days from July 2018 but not much of a big deal considering that the local real estate market can still be considered to be “hot” by everyone’s standards.
Median Sales Price
Last of all, the median sales price for a home in the ATX area is $315,000. This is also an increase of 3.28 percent from July 2018.
Even though buyers are willing to pay more in some areas, you should still make sure that your home is priced right if you plan on selling because an overpriced home will sit on the market for longer than you expected.
Statistics Source – Austin Title
Contact Real Estate In ATX
To learn more about the Austin Texas Real Estate Market, or to view homes for sale, contact us today by calling (512) 944-7378 or click here!