Real Estate Rumblings

Austin real estate market sees another surprising surge in home sales

Austin real estate market sees another surprising surge in home sales

9113 Camelback Exterior 1
Austin home sales were up 13.7 percent in November. Photo courtesy of Austin Luxury Group

Home sales in Austin — and the Central Texas region — are surging. A new report released by the Austin Board of Realtors (ABoR), shows unprecedented double-digit growth in home sales in November 2016. 

Single-family home sales in Austin-Round Rock jumped 15.8 percent year-over-year, while home sales in Austin proper grew 13.7 percent. Home prices were up as well, but at a slower pace than previous months. The median price in Austin-Round Rock increased 7 percent year-over-year to $294,245; in Austin, the median price grew 4 percent to $342,000. 

Home sales in Hays, Travis, and Williamson counties also experienced double-digit growth rates of 24.2, 11.3, and 14.7 percent, respectively. 

"This end-of-year surge in home sales is an unusual and welcome surprise to what’s typically the lowest months for Central Texas home sales volume during the year. Home sales throughout 2016 continue to be fueled by our region’s steady population growth," said Aaron Farmer, ABoR president, in a release. "At the current pace, 2016 will likely turn out to be another record year for Central Texas home sales."

These stats aren't limited to the Central Texas region. The Texas housing market is also poised to surpass 2015's record-breaking numbers.