Are New Home Sales Disrupting the Williamson County Market?
Friday, February 02, 2018
Written By: Victoria Reviel

Every month, the Association shares real estate market data compiled by the Texas Association of REALTORS® and the Texas A&M Real Estate Center. The data is compiled by TAR and consists of data from each MLS across the state of Texas, from there Texas A&M Real Estate Center scrubs the data to remove duplicates to publish accurate precise data, and finally the numbers are analyzed by local Association to be presented to the membership and media.

Over the past six months, the Association has seen a shift in the real estate data presented. The number of new homes being reported has increased drastically and is starting to affect the real estate information we’ve been presenting.

There is no doubt that new home builders are sustaining the demand for homes in Williamson County. Based on the numbers we saw in December 2017, the number of new home sales in Williamson County, increased over 63% from December 2016. There are no signs in the near future of this slowing down. According to the Real Estate Center at Texas A&M University, there were 4,188 new home permits issued in 2017 in Williamson County; an increase of 10.2% from 2016.

All of this information made the Association dissect the data even further and split it into two markets, the existing home market, and the new home market for the entire year of 2017.

Quick Stats for 2017 –Existing Home Properties

  • 8,301 – Homes sold, 0.8 percent decrease than 2016.
  • $260,000 – Median price for homes, 6.1 percent more than 2016.
  • $2,393,176,820 – Total dollar volume, 5.5 percent increase from 2016


Quick Stats for 2017 –New Construction Properties

  • 2,768 –Homes sold, 28.8 percent more than 2016.
  • $309,000 – Median price for homes, 0.0 percent more than 2016.
  • $922,968,930 – Total dollar volume, a 28.8 percent increase than 2016


Quick Stats for December 2017 – All Residential Properties

  • 11,068 – Homes sold, 5.0 percent more than 2016.
  • $273,500 – Median price for homes, 11.2 percent more than 2016.
  • $3,315,207,886 – Total dollar volume, 11.1 percent more than 2016

What does this mean for you and your consumers?

  • Based on the data presented, a new home will run you approximately $30,000 - $60,000 more than an existing home in Williamson County.
  • The new home market makes up approximately 25% of all data presented in the MLS.
  • New home prices remained flat in 2017.
  • In December 2017, there were only 1.3 months of inventory for existing homes, compared to 4.4 months for new homes.

The past couple of years have been a real estate market riddled with inventory problems. This can be attributed to two main causes. First, sellers just are not interested in selling their homes; secondly, Williamson County has experienced a population increase of over 100,000 residents since 2010. According to the 2017 Texas Relocation Report, 46 people are moving to the Austin-Round Rock MSA each day, and many are choosing Williamson County as their home. The infrastructure of the county is being updated to help move these new residents, it makes sense to build new homes to house them.

We thank our new home builders across the County for filling the inventory gap, and for building high-quality homes in Williamson County. If you are interested in learning more about the new homebuilders in Williamson County, join us for the West Side Bus Tour on February 22nd, the All Star Builders Fair on April 12th at the Dell Diamond, and on the East Side Bus Tour on June 20th. 

About the Author:
Victoria Reviel is the CEO and founder of 98th Meridian Real Estate Sales & Marketing Group™ a full-service residential brokerage. Victoria brings an impressive track record of success to her brokerage; her clients, agents and industry competitors have come to value her high-standards and disciplined approach to the business, thus she has won the trust and respect of clients, colleagues, and peers and has become a guiding principle at 98th Meridian. Originally from Dallas, Texas; Victoria has over 30 years of extensive executive management experience with high profile national and international corporations such as The Hard Rock Café Restaurants and Resorts, The Fairmont Hotel and Club Med Resorts. Changing careers in January 1997 to real estate, Victoria was a top producing agent in Dallas with Coldwell Banker Realtors®; and most notably from 2006 to 2010 Victoria was the Texas State Broker for Zip Realty Inc.; the 5th Largest Brokerage in the United States per the National Association of Realtors®. Victoria Reviel was responsible for over 400 Realtors® in Austin, Dallas, and Houston and closed over 7500 transactions during her 5-year tenure. In 2010, Victoria re-opened 98th Meridian and has enjoyed continued success serving the Central Texas Real Estate Market. Victoria was chosen in 2007 to attend the first class for the Texas Association of REALTORS® Leadership Program (TRLP) in Region 8. In 2014, Victoria served as President of the Women’s Council of Realtors® Austin Chapter and Texas Association of Realtors® Director in 2012.Victoria served as President of WCREALTORS® in 2011 and is serving again in 2018. Victoria serves to express her gratitude to the Association and its Membership. She stated, “Volunteering is a big commitment, quite a bit of work and not always fun, but for her, it has always been a very meaningful and gratifying experience.”


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