Austin real estate news from Doreen for May is here. In April, median home prices dropped 15% to $466,705, year over year, according to the Austin Board of REALTORS® latest Central Texas Housing Report. The Austin Round Rock MSA housing inventory reached 3.2 months. Central Texas is outperforming national trends while continuing to balance
Resales vs new builds, home selling decisions, interest rates, home buying decisions, and builder incentives, the spring real estate market is just about over as we start to dip our toes into summer. You can see the market light up with the increase in listed homes and pending sales. Inventory is hovering at about 3 months in most counties in Central Texas. While it is still a seller’s market, it is also a bit of a make-it-work market with everyone feeling a bit like a squirrel in the middle of the road.
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Austin real estate news from Doreen for April is here. In March, median home prices dropped 13% to $450,000 year over year, according to the Austin Board of REALTORS® latest Central Texas Housing Report. The Austin Round Rock MSA housing inventory reached 3.0 months. Additionally, a rise in new and active listings suggests that the current market conditions are advantageous for both buyers and sellers.
Looking to unlock the secrets to finding luck in today’s real estate market? Find tips for home buyers and advice for selling a home here. There’s been talk about the market slowing because it has. Talk about inventory growing because it is. However, it is important to note we aren’t quite in a market where a buyer is picking their neighborhood. Continue reading
Austin real estate news from Doreen for March is here. In February, median home prices dropped 12.2% to $439,419 year over year, according to the Austin Board of REALTORS® latest Central Texas Housing Report. Despite the price decrease, monthly housing inventory stayed relatively flat at 2.6 months of inventory from 2.7 in January 2023, demonstrating that this market is still in need of more housing as the industry standard is that six months of available inventory is considered a balanced market between buyers and sellers.
Spring is here. What the calendar says at the time you are reading this is irrelevant if you are planning to move. For those wanting to spring into the Austin real estate market to buy or sell – act like it’s already here because trust me when I say April will turn into August in about a minute.
To be clear, we have been in a seller’s market for years. I have no crystal ball to indicate that is going to change. In the end, spring makes people happy and shopping often does too. Continue reading
Austin real estate news from Doreen for February is here. In January, median home prices dropped 6.3% to $450,000 year over year, the largest price drop since July 2011, according to the Austin Board of REALTORS® latest Central Texas Housing Report. Despite the price decrease, monthly housing inventory stayed flat at 2.7 months of inventory from December 2022, demonstrating that this market is still in need of more housing as the industry standard is that six months of available inventory is considered a balanced market between buyers and sellers.