Austin real estate market news for October 2023 is here. The Central Texas housing data shows that the Austin Round Rock MSA reached 4.0 months of inventory, the highest level in more than eight years. There was a drop in closed sales along with median prices indicating affordability and higher interest rates are tempering the market. September median sales prices were down 4.3% and spent an average of 24 more days on the market year over year.
According to the Austin Board of REALTORS® September 2023 Central Texas Housing Market Report, the Austin-Round Rock MSA, experienced a decrease month-over-month in closed sales, indicating the market has cooled a bit. Housing inventory is the best it has been in years. Cash buyers or those who can work with the financing options available, have a bit of a selection right now. Those choices are creating a more competitive market for sellers as home sales slow.
It’s not rabbit season. It’s not duck season. It’s house hunting season. I’ve been hosting open houses and have had visitors. The Texas heat has been similar to the dead of winter in that if people are getting out of their climate-controlled vehicles to visit me, they are for a reason. They are hunting. House hunters are not desperate. These buyers are slow, meticulous, and move when they are ready. House hunters want to buy a house and may need to buy a house, but whether they date the rate or marry it – financially it’s a big decision and they are taking their time.
Austin real estate news for September 2023 is here. The Central Texas housing market shows that overall, the Austin Round Rock MSA is finding its footing. The number of closed sales and pending sales is continuing to increase year-over-year. August median sales prices while down compared to last year, were fairly consistent with July. Interest rates are still volatile, which continues to temper home prices.
Austin real estate news August 2023 is here. The Central Texas housing market shows that overall, the Austin Round Rock MSA is showing signs of recovery. The number of closed sales and pending sales are increasing year-over-year, and the median sales price is stabilizing. However, interest rates are still volatile, which could put some downward pressure on prices in the coming months.
What makes a home a condo? I represent buyers and sellers all over Central Texas. When I’m not looking for specific buyers, I’m touring new communities. I have seen various types of condominium regimes and neighborhoods comprised of fee simple single-family houses. Think you can tell a fee simple house from a condo? Think again. The perception is that you can tell a single-family house or duplex from a condo just by looking at it. Truth be told, there is nothing about the style of a house that dictates its classification.