Austin real estate news August 2023 is here. The Central Texas housing market shows that overall, the Austin Round Rock MSA is showing signs of recovery. The number of closed sales and pending sales are increasing year-over-year, and the median sales price is stabilizing. However, interest rates are still volatile, which could put some downward pressure on prices in the coming months.

According to the Austin Board of REALTORS® July 2023 Central Texas Housing Market Report, closed listings increased 0.6% year-over-year to 2,815 closed sales across the AustinRound Rock MSA. When considering July 2022 is when the market initially began to stabilize, and when combined with pending sales rising 14.5% to 2,892 pending sales, the housing market is poised for a strong finish to 2023.

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Austin real estate news from Doreen for July is here. If there is ever a month when we are living in a Barbie world, it’s June. Between the graduation parties, backyard barbeques, proms, vacations, planning for vacations, and summer camps starting – there’s an event around every corner. Homes for sale in Austin and beyond often take a dip for a few weeks this time of year with all of the social events.

June’s residential home sales declined 8.5% year over year to 3,147 closed sales while the median price also dropped 9.6% to $483,000 for the month of June, according to the Austin Board of REALTORS® latest Central Texas Housing Report. The Austin Round Rock MSA housing inventory reached 3.7 months. Despite increased inventory across the region, long-term solutions to address affordability and housing availability are still needed.

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Austin real estate news from Doreen for June is here. In May, median home prices dropped 15% to $467,500, year over year,  according to the Austin Board of REALTORS® latest Central Texas Housing Report. The Austin Round Rock MSA housing inventory reached 3.4 months. The Central Texas market as a whole appears to have stabilized a bit for now.  Mortgage rates are still a bit of a wild card right now.  While it is still a sellers’ market, buyers are comparison shopping, sellers are negotiating and builders are still offering incentives.

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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

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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.

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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.

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