Austin Real Estate News October

Austin Real Estate

Austin real estate news market data for September showed the housing market continued to return to normal activity with more available supply and a softer appreciation of home price growth according to the latest Central Texas Housing Market Report released by the Austin Board of REALTORS®.   The median price grew by 5.6% year over year to $470,000, a record for the month of September for the Austin Round Rock metro area.  Active listings were the head turner as they were up 162.4% to 9,671 listings—the highest number in the MSA since July 2011. 

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

“Homebuyers have not had this much leverage and this many options in over a decade,” Cord Shiflet, 2022 ABoR president, said. “We’re still in a seller’s market, but as homes take longer to sell and are being bought for less than the original list price on average, and with inventory steadily increasing, right now is a great time to be a homebuyer in Central Texas.”

Home inventory supply is starting to give buyers choices

On the other side of the transaction, sellers must reset their expectations, according to Shiflet.

““Homes are selling at 95% of their original list price. Sellers need to know that the days of multiple offers way over the asking price are a thing of the past. REALTORS® have access to real-time, accurate housing market data through the MLS and keep a constant pulse on the optimal list price for a home, making it competitive and desirable for buyers that now have much more leeway in their home search process.”

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 three 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 September 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 —$555,000, up 5.8% from a year earlier. 
🔑Travis County — $550,000, up 8.6% from a year earlier.  
🔑Williamson County — $475,000, up 9.7% from a year earlier. 
🔑Hays County —$410,000 up 15.5% from a year earlier. 
🔑Bastrop County — $379,495, up 13.3% from a year earlier. 
🔑Caldwell County — $336,760 up 29.5% 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 September’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). 

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 10/13/22 and was compiled from a total of 71 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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