Austin home prices are up 36% since this time last year, report says
AUSTIN, Texas — Austin’s housing prices are still rising month to month, according to Realtor.com’s July Housing Report.
Realtor.com reports that Austin home prices are up 36% year-over-year.
Nationally, listings are up and small home prices are down, according to the July report. Realtor.com reports new listing increases are the highest in Midwestern cities like Columbus, Ohio, Cleveland and Milwaukee.
Realtor.com also reported that while inventory is still lower nationally compared to last year, the rate of decline is improving.
The U.S. median listing price was $385,000, a 10.3% increase year-over-year, and the typical U.S. home spent 38 days on the market in July.
But in Austin, homes go faster and cost more. The median listing price in the Austin-Round Rock area is $536,000. Homes spend an average of 20 days on the market.
With less supply and more demand, the Central Texas housing market continues to heat up. Last month, the Austin Board of REALTORS reported that 4,369 homes sold in the Austin-Round Rock area in June – the highest number ever.
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