Austin Real Estate News August

Austin real estate news market data for July showed the housing market continued to trend toward more normal and sustainable levels in July, according to the Austin Board of REALTORS® July 2022 Central Texas Housing Market Report. Median price grew by only 8% year over year to $515,000, a record for the month of July but the first-time home price growth has been in the single digits since June 2020. The
region’s housing inventory reached 2.7 months — the highest level of inventory since November 2018.

Austin Real Estate Housing Market Statistics for Austin – Round Rock MSA

“In every aspect of our market REALTORS® are seeing positive signs that Austin’s housing market continues to normalize,” Cord Shiflet, 2022 ABoR president, said. “On top of rising housing inventory, home price growth is much closer to the 4-5% annual growth that is typical for a healthy market. In addition, homes sold slightly below list price for the first time since December 2020, proving that buyers are gaining negotiating power in the market.”

In July, residential home sales declined 28.3% year over year to 2,849 closed sales, sales dollar volume declined 21.9.% to $1,837,933,383, and new listings remained consistent with a 0.2% decline to 5,142 listings. The average close to list price for residential homes was 98.8% in July 2022, a significant change from the average 104.1% close to list price for the first half of the year.

Homes spent an average of 22 days on the market, 10 days more than July 2021 and active listings skyrocketed 167.9% to 8,709 listings. At the same time, pending sales declined 25.9% to 2,774 pending sales.

 

Austin Real Estate and 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 now showing two months of inventory.

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.

Austin Round Rock MSA July median sold prices and year-over-year price increases as originally reported in the latest Austin Board of Realtors Central Texas Housing Report.

🔑City of Austin —$633,000, up 11.1% from a year earlier. 
🔑Travis County — $610,000, up 10.9% from a year earlier.  
🔑Williamson County — $485,000, up 10.2% from a year earlier. 
🔑Hays County —$450,000, up 15.4% from a year earlier. 
🔑Bastrop County — $415,000, up 17.5% from a year earlier. 
🔑Caldwell County — $379,536 up 45.1% from a year earlier.

Median Single-Family House Sold Prices for Austin, West Lake Hills, Round Rock, Leander, Elgin, Cedar Park, Buda, Kyle, and Dripping Springs 

These are July’s median sold prices for single-family fee-simple houses in Austin and the surrounding cities. I ran these numbers using MLS data from the Austin Board of Realtors.  Data is for single-family houses (no condos). 

Austin Real Estate

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.

City of Austin Condo Market Snapshot 

I ran this report focusing on the zip codes that had the most sold inventory.  This report was run on 8/26/22 and was compiled from a total of 81 listings.  This report includes all types of residential condos whether they are free-standing (detached), tower, townhome-style, or duplex.  All condo regimes were included in this report.  All things being equal, a condo dollar tends to go a little further than a fee-simple home.   In some locations, condominiums can prove to be a cost-effective alternative.

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