Home sales in Williamson County increased 2.1% in May 2018. Additionally, median home prices increased 6.7% (when compared year over year), according to the May 2018 Williamson County Housing Market Report released today by the Williamson County Association of REALTORS®.
According to the May 2018 Williamson County Housing Market Report, the median home price for all residential properties was $298,700, an increase of 2.1% when compared to May 2017. The median price in Williamson County is hovering $19,250 less than the Austin MSA Median Price of $319,000.
Based on the numbers in the Housing Report, 22.3% of Williamson County sales reported in the MLS were new construction. This number is higher than the Austin-Round Rock MSA (18.0%) and the state of Texas (13.3%). Furthermore, the new construction market is showing a median price of $327,660, 12.5% more than the median price for existing homes sales ($289,000) in May. Currently, there are 925 active new construction listings reported across Williamson County, compared to 1,503 existing home listings.
During the month of May, Williamson County had a total of 2.6 months of inventory and an 8.6 % increase in listings compared to last May. Based on these numbers, Williamson County is still in a strong 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. Even though the number of listings and the total days on market has increased, it has not greatly affected the market conditions.
“Many homebuyers are having to expand their search areas to find homes within their price range,” said Reviel. “While new homes have been a source for many buyers we’re seeing a decrease in the new home inventory. Williamson County is one of the top counties for buyers both locally and internationally.”
During April, existing homes spent an average of 31 days on the market, as compared to a new construction home which averaged 117 days on the market.
Quick Stats for May 2018 – All Residential Properties
- 1,172 – Homes sold, 2.1 percent more than May 2017.
- $298,700– Median price for homes, 6.7 percent more than May 2017.
- $325,208– Average price for homes, 7.6 percent more than May 2017.
- 2.6 – Monthly housing inventory in May 2018.
- 2,428 Active home listings on the market in May 2018.
- 910 – Homes sold, 0.6 percent less than May 2017.
- $289,000 – Median price for homes, 7.8 percent change from May 2017.
- $318,272 – Average price for homes, 8.7 percent change from May 2017.
- 2.1 – Monthly housing inventory in May 2018.
- 1,503 – Active home listings on the market in May 2018.
Quick Stats for May 2018 –New Construction Properties
- 262 – Homes sold, 12.5 percent more than May 2017.
- $327,660– Median price for homes, 3.5 percent more than May 2017.
- $349,293– Average price for homes, 3.2 percent less more May 2017.
- 3.8 – Monthly housing inventory in May 2018.
- 925– Active home listings on the market in May 2018.
About the data in this report
Certain 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®.