May’s Numbers!

The Austin Board of Realtors (ABoR) released May’s Austin-area statistics a few days ago and this infographic will give you a quick idea of the findings!
 
Last month, Austin had yet another record-setting May with median home prices rising to $271,000.  (Last May, median home prices were just under $249K)  Essentially, for those of you who said last year that you would wait till next year to buy- you’ll be needing to pay $22,000 more for the same house!  The average (sold) home price in May was $348,201.  
 
According to the same report, only 25% of single-family home options in our Central Texas region were under $200,000.  Something tells me that percentage is even smaller in Austin proper.
 
Barb Cooper, 2015 President of the Austin Board of REALTORS¬®, explained, “Affordability remains an issue across the region, identifying a need for Central Texas to address the “missing middle” with an influx of diverse housing stock.”
 
Often times, when I tell people I’m in real estate, they respond with something like “Oh wow!  Austin is such a great market to be in!”  I guess that depends on who you are.  Ask the hard-working guy trying to buy a home in south Austin for under $200K and he’ll tell you “This market freaking sucks.”  So, what is there to be done?  We’ll save that for next week…
 
Onward!

 

 

Barrett Raven
barrettraven@gmail.com
512.970.2648

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