Austin real estate news from Doreen for April is here. In March, median home prices dropped 13% to $450,000 year over year, according to the Austin Board of REALTORS® latest Central Texas Housing Report. The Austin Round Rock MSA housing inventory reached 3.0 months. Additionally, a rise in new and active listings suggests that the current market conditions are advantageous for both buyers and sellers.
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 from Doreen for February is here. In January, median home prices dropped 6.3% to $450,000 year over year, the largest price drop since July 2011, according to the Austin Board of REALTORS® latest Central Texas Housing Report. Despite the price decrease, monthly housing inventory stayed flat at 2.7 months of inventory from December 2022, 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 from Doreen for January is here. In 2022, the median price for a home in the Austin-Round Rock MSA set a new annual record of $503,000, according to the December 2022 and Year-End Central Texas Housing Market Report released by the Austin Board of REALTORS®. Despite this record, the housing market continued shifting towards buyers as home sales declined and inventory increased, with homes on the market for 31 days, 11 days more than in 2021.
Are you looking for Austin homes for sale or on sale? You can find both types in any home search but they are very different. Price adjustments are consistent right now because homes don’t enter the market at the same time. Some were listed in August, others joined in September, and more were placed on the market yesterday. The August market was trying to rekindle the gold rush of home prices from the spring and winter months. August is also six months old. The September market doesn’t mean much today either. What matters is now which is why many home prices are decreasing.
It’s the most wonderful time of the year, or so the song goes. Is it the most wonderful time to buy a house? That all depends.
The best time to buy or sell a house is when it’s your best time. There is a list of tasks to be checked off regardless of what side of the table you sit on. Waiting to take advantage of the market du jour will result in missing it. It takes work to buy or sell a home and anything that takes effort generally takes time.
Austin real estate news from Doreen for December is here. For the first time since February 2019, median home prices in the Austin-Round Rock MSA experienced a 0% year-over-year increase. The data is according to the Austin Board of REALTORS® November 2022 Central Texas Housing Market Report. As housing inventory and days on the market continue to steadily increase across the MSA, the report indicates normal market activity could be here to stay. Austin’s housing market maintains its trajectory toward balance and sustainability. For the first time since the spring of 2020, there were no records broken for home sales or median price in either the MSA or the City of Austin.