March showed strong numbers overall, with the sharp increase in pending sales being the highlight. While stats earlier in the year were a little soft, Springtime definitely seems to be exciting and fast paced. The surprise decrease in mortgage rates is just another plus that is encouraging the pace of the market. The March 2019 stats report shows that sales volume increased by 2% to 2,740 sales when compared to March of last year. Sales volume totals for March were a whopping $1.1 Billion. Median prices for March 2018 vs. 2019 were slightly higher at $305,000 for an average home in the Austin Metro. The market continues to be strong as active listings, pending contracts, and new listings increased across the board in March. Months of inventory only slightly increased year over year - anything below 6 months of inventory is considered to be a seller's market.
We are excited and rolling full steam ahead into Spring 2019! Our agents are ready to help you market your home for sale in this competitive market, and can help you hunt down that perfect property as well.