Austin Real Estate News April 2023

Austin real estate news l Austin housing market l moving to Austin

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.

Month-over-month about every data point is up for the Austin Round Rock MSA, according to the Austin Board of REALTORS® latest Central Texas Housing Report.

Comparing February to March 2023
✔ Overall, the median sales price was up about 3% (from $436k)
🏡 Sold units were up (from 2,106)
🏘 New listings were up (from 2,764)
🌺 Active listings were up (from 7,167)
🌳 Pending sales were up (from 2,465)
📈 Months of inventory were up (from 2.6)

The only data point that was down was Average Days on Market, down 4 days from February.Austin Real Estate Market statistics for Round Rock Austin MSA

“This spring has ushered in a sweet spot for both buyers and sellers,” Ashley Jackson, 2023 ABoRpresident, said “There are three times the number of homes on the market than a year ago, bringing more choice and opportunity to homebuyers in over a decade. REALTORS® are reporting that they are busy and the market is moving at a much healthier pace than it has in years. If sellers work with a REALTOR® to price and market their home correctly, it’s going to sell.”

Median Single-Family Home Sold Prices for Austin, Georgetown, Round Rock, Leander, Elgin, Cedar Park, Buda, Kyle, and Dripping Springs 

Central Texas Real Estate home prices by city

Dr. Clare Losey, who recently joined ABoR as its first housing economist commented on the ongoing strength of Central Texas’s housing demand as mortgage rates stabilize and housing activity continues to normalize.

“Austin’s housing market is still demand-driven, contributing over $1.5B to our region’s economy last month even as the pace of home sales and price growth adjusts from the extreme anomaly of the last two years. The increase of new listings in March, specifically month over month, indicates rising seller confidence and the recent decline in mortgage rates provided momentum for homebuyers. Mortgage rates are projected to remain consistent for the rest of the year, making now a great time to make a move.”

“Recently announced layoffs have not been enough to indicate a downturn in Austin’s job market or impact housing demand. In fact, Travis County’s job market is projected to grow at nearly double the pace of job growth statewide over the next decade, with the leisure and hospitality sector leading that growth.”

Austin Real Estate News for all of Central Texas all counties that make up the Austin Central Texas Realty Information Service (ACTRIS) and Austin – Round Rock Metropolitan Statistical Area are hovering at three months of inventory.

Austin real estate news statistics by county for March 2023

Williamson County Real Estate March 2023Travis County Real Estate March

Hays County Real Estate Batrop County Real Estate

Months of inventory are calculated by taking the number of homes listed for sale and dividing it by the average amount of homes sold per month within a 12-month period.

Here is the breakdown of Austin Round Rock MSA March median sold prices and year-over-year price changes by county. This data was originally reported in the latest Austin Board of Realtors Central Texas Housing Report.

🔑Travis County — $514,900, down 14.2% year over year
🔑Williamson County — $425,000, down 13.0% year over year 
🔑Hays County —$388,950 down 15.5% year over year
🔑Bastrop County — $329,990, down 17.5% year over year
🔑Caldwell County — $298,750, down 8.4% year over year

These are March’s median sold prices for single-family houses in Austin and the surrounding cities. I ran these numbers using MLS data from the Austin Board of Realtors. 

Austin homes sales for the city of Austin March 2023

Austin Homes for Sale

Data compiled by ACTRIS© Matrix data through ABoR. Information deemed reliable but not guaranteed and should be verified.  Content is “AS IS,” without any warranty, express or implied. Results were calculated from the number of listings in the MLS at the date of the report. Off-market data not included.

The current number of active listings can be looked at as double what they were a year ago in Travis, Williamson, and Hays counties. All three are equaling about what they were at the end of June 2022.

🤠 Overall, it looks like the active number of listings took a jump in March. On a micro-level, Travis County experienced the biggest inventory increase.  Hays and Williamson counties’ are relatively flat in recent months.

✔ In March homes still sold for roughly ~95% of the original list price in Travis County and ~94% of the list in Williamson and Hays. If homes have been reduced and then go under contract, the current list price to sales price ratio is 98% overall for all three counties.

Austin Housing Inventory and Central Texas

Austin real estate news First Quarter Wrap Up

🏡 Cash for sellers may be king, but there is a healthy amount of buyers out there with financing.

🏠 While there are still some of the homes selling over the list price, the numbers don’t include seller concessions.

🏘 It’s a slower roll this year with inventory turnaround, but clearly, not everything is sitting for long. With 42% of homes going under contract in 30 days or less – it’s a good reminder for buyers that their dream homes may appear in other buyers’ dreams too.

Austin 2023 First quarter housing news

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