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.
According to the Austin Board of REALTORS® July 2023 Central Texas Housing Market Report, closed listings increased 0.6% year-over-year to 2,815 closed sales across the AustinRound Rock MSA. When considering July 2022 is when the market initially began to stabilize, and when combined with pending sales rising 14.5% to 2,892 pending sales, the housing market is poised for a strong finish to 2023.
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.
