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.
Austin Real Estate News for Austin – Round Rock MSA shows the Central Texas housing market has come a long way from a year ago. Be mindful that both supply and interest rates are higher now which slowed down the demand.
Coming off two unprecedented years for the Austin-Round Rock housing market, ABoR president Ashley Jackson added that month-to-month data is important to help contextualize current figures against an overall trend of market stabilization.
“Looking at the month-to-month data, we see that pending sales are consistent or rising in neighborhoods that are typically more affordable in areas outside Austin city limits. Along with rising inventory, that’s a good sign for housing market activity this spring.”
Median Single-Family Home Sold Prices for Austin, Georgetown, Round Rock, Leander, Elgin, Cedar Park, Buda, Kyle, and Dripping Springs
Taylor Jackson, chief executive officer of the Home Builders Association of Greater Austin, explains that builder confidence is growing and encourages a broader perspective when looking at Austin’s housing market and home building industry.
“With each passing month, homebuilders are gaining more confidence in the stability of our housing market. This is evidenced by fewer cancellations and minimized supply shortages. Additionally, first quarter sales incentives have remained strong and for the first time in a long time, builders have a renewed sense of optimism in the direction the market is heading.”
“Incentives, down payment assistance programs — anything that increases housing accessibility— are very important right now,” added Jackson. “Many buyers remain priced out of the market, especially in Austin proper. There is still plenty of work to do to address systemic issues in affordability, accessibility, and missing middle construction, and those should remain our community’s number one concern.”
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 February 2023
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 February 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 — $499,990, down 7.0% year over year
🔑Williamson County — $410,000, down 4.9% year over year
🔑Hays County —$380,000 down 13.1% year over year
🔑Bastrop County — $349,990, down 20% year over year
🔑Caldwell County — $299,990, down 3.1 % year over year
These are January’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 homes sales for the city of Austin February 2023
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.
Inventory is higher than last year but not as high as in the Fall of 2022. Here is the five-year sales price history for the Austin Round Rock Central Texas MSA for the counties of Travis, Williamson, and Hays [TNT
This data was compiled by Texas National Title using market data provided by the Texas REALTOR® Data Relevance Project, a partnership amount Texas REALTORs® and their MLSs, the Real Estate Center at Texas A&M, and Texas Realtors.
Austin real estate news median closed prices for the last 3 months
The median closed prices in the last 3 months for the city of Austin and some of its neighbors. Compared to January, sold units were up for Austin, Pflugerville, and Hutto. They were flat for Georgetown and Buda and down in Dripping Springs. In some cities, the sold inventory changed enough to affect the median price.
The median is the middle. In a city like Dripping Springs, with sales units low, 10 units can greatly move the needle on the median price.
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