MARKET REPORT 2018 UPDATE
2018 YEAR-TO-DATE CITY STATISTICS A message from
PRICE RANGE
J KUPER
BROKER & OWNER, KUPER SOTHEBY’S INTERNATIONAL REALTY
On behalf of all of us at Kuper Sotheby’s International Realty, it is my pleasure to provide you with our 2018 Market Update, exploring the market from January through April of this year. For over forty-five years our firm has played a pivotal role in the real estate landscape in Central and South Texas with over $20B in sales volume to date. We want our experience and success to be to your benefit not only when we represent you in a real estate transaction but also when you need insight into the real estate market. The Greater Austin market saw the strong real estate trends of 2017 continue in the first part of 2018. A strong job market and continued population growth has spurred growth year over year. With a record number of sales, especially in March which saw a 10.5% increase from March 2017, Austin’s market is red hot, out-pacing the State of Texas, which overall saw relatively modest growth in the number of sales. From January through April, the average sold price was $384,000. Interestingly, the City of Austin saw a flattening of median prices at only a 0.1% increase, reflecting a normalization in the local market. Inventory remains extremely tight with 2.2 months of inventory, down .2 months from this time last year. As a region, new home construction continues to fuel robust market conditions and with the increase in housing material costs, prices should continue to rise. As interest rates creep up, buyers will again race to compete for the best homes and multiple offers will likely give sellers a strong negotiating platform. I hope this market report helps give you greater insight into the exciting things happening in our region. If we can be of any assistance during your next purchase or sale of property, it would be our pleasure to be a resource for you. Sincerely,
2018 YEAR-TO-DATE COMPANY-WIDE STATISTICS
$480M
800
$600K
SALES VOLUME
TRANSACTIONS
AVG. TRANSACTION PRICE
Kuper Sotheby’s International Realty is an RBFCU company. © MMXVII Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks licensed to Sotheby’s International Realty Affiliates LLC. Kuper Sotheby’s International Realty is a subsidiary of RBFCU Services LLC. RBFCU Services LLC is affiliated with Randolph-Brooks Federal Credit Union (RBFCU). An Equal Opportunity Company. Equal Housing Opportunity. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Representations are based in whole or in part on available data supplied by the San Antonio Board of Realtors or its Multiple Listing Service. Neither The Board nor its MLS guarantees or is in any way responsible for its accuracy. Any market data maintained by The Board or its MLS does not necessarily include information on listings not published at the request of the seller, listings of brokers who are not members of The Board or MLS, unlisted properties, rental properties, etc. All information deemed reliable but not guaranteed.
$0-$500K $500-$750K $750-$2M $2M+
YTD SALES
AVG. DAYS ON MARKET
AVG. SOLD PRICE/SQUARE FOOT
8,466 homes 1,005 homes 529 homes 52 homes
52 days 72 days 82 days 153 days
$147/ sq. ft. $212/ sq. ft. $308/ sq. ft. $579/ sq. ft.
2018 YEAR-TO-DATE NEIGHBORHOOD STATISTICS MLS AREA 1A 1B 1N 2 2N 3 3E 4 5 5E 6 7 8E 8W 9 11 10N 10S CLN CLS DT GTE GTW HD HH HW LN LS LW N NE NW PF RN RRE RRW SC SE SWE SWW UT W
YTD SALES 107 homes 128 homes 151 homes 195 homes 120 homes 171 homes 59 homes 120 homes 240 homes 36 homes 186 homes 74 homes 108 homes 67 homes 97 homes 106 homes 169 homes 203 homes 642 homes 312 homes 100 homes 197 homes 510 homes 208 homes 544 homes 85 homes 166 homes 439 homes 27 homes 135 homes 186 homes 214 homes 590 homes 147 homes 512 homes 319 homes 105 homes 52 homes 243 homes 160 homes 54 homes 114 homes
AVG. SALES PRICE $534,238 $1,093,041 $432,476 $417,136 $258,549 $393,838 $259,832 $521,112 $394,348 $214,484 $540,590 $669,021 $1,212,184 $799,158 $315,079 $240,962 $326,987 $296,633 $312,932 $329,707 $666,720 $282,640 $358,364 $503,038 $250,767 $354,672 $360,894 $610,815 $700,489 $303,225 $251,648 $353,906 $264,236 $594,397 $285,914 $364,466 $286,760 $212,265 $355,481 $475,885 $341,868 $771,871
AVG. DAYS ON MARKET
AVG. SOLD PRICE/SQUARE FOOT
44 days 74 days 34 days 40 days 17 days 55 days 70 days 36 days 57 days 25 days 69 days 37 days 87 days 43 days 46 days 36 days 41 days 37 days 70 days 49 days 67 days 54 days 79 days 100 days 65 days 70 days 92 days 87 days 181 days 39 days 35 days 38 days 54 days 56 days 50 days 43 days 54 days 30 days 56 days 30 days 31 days 72 days
$258/ sq. ft. $425/ sq. ft. $207/ sq. ft. $303/ sq. ft. $183/ sq. ft. $278/ sq. ft. $154/ sq. ft. $340/ sq. ft. $320/ sq. ft. $142/ sq. ft. $394/ sq. ft. $386/ sq. ft. $352/ sq. ft. $271/ sq. ft. $215/ sq. ft. $147/ sq. ft. $248/ sq. ft. $194/ sq. ft. $138/ sq. ft. $150/ sq. ft. $552/ sq. ft. $142/ sq. ft. $150/ sq. ft. $180/ sq. ft. $129/ sq. ft. $178/ sq. ft. $172/ sq. ft. $190/ sq. ft. $202/ sq. ft. $167/ sq. ft. $151/ sq. ft. $170/ sq. ft. $124/ sq. ft. $189/ sq. ft. $132/ sq. ft. $143/ sq. ft. $139/ sq. ft. $110/ sq. ft. $170/ sq. ft. $188/ sq. ft. $329/ sq. ft. $214/ sq. ft.
Kuper Sotheby’s International Realty is an RBFCU company. © MMXVII Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty Affiliate