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
Austin home sales comparing April to March 2023
✔ Overall, the median sales price was up about 3.5% (from $450k)
🏡 Sold units were down (from 2,804)
🏘 New listings were down (from 4,385)
🌺 Active listings were up (from 8,059)
🌳 Pending sales were up (from 3,046)
📈 Months of inventory were up (from 3.0)
“For several months, the Austin-area housing market has been balancing as REALTORS® continue to help clients on both sides of the transaction navigate this market effectively,” Ashley Jackson, 2023 ABoR president, said. “This is still a market that is seeing lots of activity, just not at a record-setting pace, and that is to be expected given broader economic trends. Home prices are moderating, pending sales are holding strong and homes on the market last month are selling closer to list price. These are all signs of a market that is still balancing and doing so in a healthy way.”
Dr. Clare Losey, the housing economist for ABoR, provided an analysis of how economic factors are impacting the housing market.
Median Single-Family Home Sold Prices for Austin, Georgetown, Round Rock, Leander, Elgin, Cedar Park, Buda, Kyle, and Dripping Springs
“Inflation, the near doubling of mortgage rates, fear of a recession, and, most recently, stress in the banking system have all contributed to declines in home prices nationally. In Austin, robust job and population growth have mitigated these effects on homebuyer demand, favorably indicating that our region’s economy and housing market continue to outperform national economic trends. Austin remains resilient and able to withstand broader economic turbulence more effectively.”
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 April 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.
Austin real estate news data for the current number of active listings was relatively flat comparing April to March.
The Real Estate Inventory of New listings In Travis, Williamson, and Hays County was actually down a little from March.
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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.