Austin Real Estate News July 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.

Austin home prices and sales for the Austin-Round Rock MSA comparing June to May 2023

✔ Overall, the median sales price was up about the up (from $483k)
🏡 Sold units were down (from 3,411)
🏘 New listings were up (from 4,545)
🌺 Active listings were up (from 8,960)
🌳 Pending sales were down (from 3,243)
📈 Months of inventory were up (from 3.4)Austin Round Rock real estate market

Dr. Clare Losey, ABoR housing economist, sees a market that has held steady but still needs increased inventory to house our region’s growing population.

“Despite a slight uptick in mortgage rates in June, the median sales price rose a modest 2.7% from May. Overall, the moderation in home prices throughout the region over the past year has eased the affordability constraint posed by higher rates, but more work needs to be done across the region and into the future to fully address this challenge. The Central Texas region simply needs more inventory—particularly at price points affordable to first-time buyers—as home prices remain elevated relative to incomes across the region.”

Central Texas Housing Market Median Single-Family Home Sold Prices for Austin, Georgetown, Round Rock, Leander, Pflugerville, Cedar Park, Buda, Kyle, Hutto, Manor and beyond

Central Texas Cities home prices

Losey added that the region’s economy is a major factor in the housing market’s performance.

“The diverse and resilient economy that has been built in Central Texas, particularly over the past two decades, is instrumental in helping the region, and our housing market, withstand less than ideal economic conditions. It is important to remember that the market continues to moderate in the wake of unsustainable price growth and sales activity during the pandemic, but remains robust. The median sales price in the MSA appreciated by nearly 50% from June 2019 to June 2023. The ability to buy a home remains the best way to create generational wealth, and that needs to be more accessible to everyone.”

Austin real estate news statistics by county for June 2023

Williamson County Real Estate newsTravis County real estate

Hays County Real Estate Bastrop 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 12 months.

Homes for sale in Austin were higher with Austin Real Estate Active Listings up for Travis, Hays, and Williamson Counties

Austin Real Estate New listings In Travis, Williamson, and Hays County were up in June.  

 Median Sold Prices for all home types: 6-Month Trends 

Austin market data home sales

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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.