Home sales in Williamson County decreased 9.3% in September 2018; however, median home prices slightly rose by 1.1% (when compared year over year), according to the September 2018 Williamson County Housing Market Report released today by the Williamson County Association of REALTORS®.
According to the September 2018 Williamson County Housing Market Report, the median home price for all residential properties was $271,000, a modest increase of 2.1% when compared to September 2017. The median price in Williamson County is 8.5% (or $28,900) less than the Austin MSA Median Price of $299,900.
“Traditional data tells us that spring and summer are the best time of year to list your house for sale,” said Victoria Reviel, 2018 President of the Williamson County Association of REALTORS®. “That time is over, and we are entering the slow selling season. Homes are sitting on the market a bit longer, and any active buyers are more serious in their purchasing efforts and will be eager to buy and get settled in before the holidays.”
Based on the numbers in the Housing Report, 22.6% of Williamson County sales reported in the MLS were new construction. The Austin-Round Rock MSA has only 20.6% new listings, and the state of Texas, 14.2%. Furthermore, the Williamson County new construction market is showing a median price of $299,900, 14.0% more than the median price for existing homes sales ($263,000) in September. Currently, there are 1,170 active new construction listings reported across Williamson County, compared to 1,633 existing home listings, making up 41.7% of inventory in Williamson County.
During September, Williamson County had a total of 3.0 months of inventory and a 5% increase in listings compared to last September. 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.
“While September is usually when the real estate market starts to slow,” Reviel added, “we saw a large decrease in the number of sales across the entire county. The only municipalities showing increases in sales this month were Georgetown and Liberty Hill..”
During September, existing homes spent an average of 41 days on the market, as compared to a new construction home which averaged 96 days on the market.
Quick Stats for September 2018 – All Residential Properties
847 – Homes sold, 9.3 percent decrease
$271,000– Median price for homes, 1.1 percent increase
$308,185– Average price for homes, 5.4 percent increase
3.0 – Monthly housing inventory in September 2018
2,803- Active home listings on the market in September 2018
Quick Stats for September 2018 –Existing Home Properties
654– Homes sold, 3.1 percent decrease
$263,000 – Median price for homes, 3.1 percent increase
$300,246– Average price for homes, 6.9 percent increase
2.4 – Monthly housing inventory in September 2018
1,633 – Active home listings on the market in September 2018
Quick Stats for September 2018 –New Construction Properties
192– Homes sold, 26.2 percent decrease
$299,900– Median price for homes, no increase/decrease
$335,653– Average price for homes, 3.8 percent increase
4.7– Monthly housing inventory in September 2018.
1,170– Active home listings on the market in September 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®.