November 2018 Housing Report
Saturday, December 15, 2018
Written By: WCREALTORS

Round Rock, Texas15 December 2018 – Home sales in Williamson County increased 3.8% in November 2018; in addition, median home prices rose slightly by 1.7% (when compared year over year), according to the November 2018 Williamson County Housing Market Report released today by the Williamson County Association of REALTORS®.

According to the December 2018 Williamson County Housing Market Report, the median home price for all residential properties was $276,055, a modest increase of 1.7% when compared to December 2017. The median price in Williamson County is 8.3% (or $23,955) less than the Austin MSA Median Price of $300,000. 

Based on the numbers in the Housing Report, 33.8% of Williamson County sales reported in the MLS were new construction.  The Austin-Round Rock MSA has only 27.4% new listings, and the state of Texas, 17.1%. Furthermore, the Williamson County new construction market is showing a median price of $293,290, 10.5% more than the median price for existing homes sales ($265,395) in November. Currently, there are 1,142 active new construction listings reported across Williamson County, compared to 1,417 existing home listings, making up 44.6% of inventory in Williamson County.

During November, Williamson County had a total of 2.7 months of inventory and a 20.4% increase in listings compared to last November.

Based on these numbers, Williamson County is still in a seller’s market; the Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes are balanced.

“Since the turn around of our market starting in 2013-2014, the process of new home developments are finally coming fully online,” said President-Elect Cyndi Bell. “We are now experiencing the effects of new home inventory coming online hence slowing some resale single-family residence. Still, on the whole, a healthy market.”

During November, existing homes spent an average of 55 days on the market, as compared to a new construction home which averaged 92 days on the market.

Quick Stats for November 2018 – All Residential Properties

  • 841 – Homes sold, 3.8 percent increase
  • $276,055– Median price for homes, 1.7 percent increase
  • $301,662– Average price for homes, 5.4 percent increase
  • 2.7 – Monthly housing inventory in November 2018
  • 2,559- Active home listings on the market in November 2018

Quick Stats for November 2018 –Existing Home Properties

  • 557– Homes sold, 1.8 percent decrease
  • $265,870 – Median price for homes, 2.1 percent increase
  • $295,870– Average price for homes, 1.6 percent increase
  • 2.1 – Monthly housing inventory in November 2018
  • 1,417 – Active home listings on the market in November 2018

Quick Stats for November 2018 –New Construction Properties

  • 284– Homes sold, 19.6 percent increase
  • $293,290– Median price for homes, 0.4 percent increase
  • $313,021– Average price for homes, 2.2 percent decrease
  • 4.5– Monthly housing inventory in November 2018.
  • 1,142– Active home listings on the market in November 2018.

About the data in this report

Information contained herein is derived from MLS listing data provided by Austin/Central Texas Realty Information Service as well as the Central Texas Multiple Listing Service through the Texas REALTOR® Data Relevance Project, a partnership among local REALTOR® associations and their MLSs, the Real Estate Center at Texas A&M and the Texas Association of REALTORS®.

###



About the Author:
"The Mission of the Williamson County Association of REALTORS® is to help its members meet present and future real estate challenges in Williamson County, to enhance and promote REALTOR® members’ professionalism, to encourage member involvement in the various communities of Williamson County, and to provide quality services for its members."

0 Comments

Please login or register to comment

menu test