AUSTIN, Texas —In June, closed listings across the Austin-Round Rock-Georgetown MSA decreased 13.4% year-over-year with 2,732 sales. That left 5 months of available inventory, the highest since 2011 according to the latest Central Texas Housing Report. Active listings increased 25.9% year-over-year. The amount of homes for sale coupled with elevated mortgage rates has tempered the median sales price to $450,000, a 6.3% reduction over June 2023.
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AUSTIN, Texas —In May, closed listings across the Austin-Round Rock-Georgetown MSA decreased 12.8% year-over-year with 2,968 sales. That left 4.9 months of available inventory, which hasn’t been seen in 13 years according to the latest Central Texas Housing Report. Active listings ticked up 37.7% year-over-year. Because of this increase in available options, buyers have the power to be more selective when purchasing a home.
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AUSTIN, Texas —In April, closed listings across the Austin-Round Rock-Georgetown MSA increased 5.9% to 2,708 sales, the highest year-over-year increase in residential homes sold this year, while the median home price rose 1.1% to $469,998. The data demonstrates that there is a collective sense of confidence and optimism in the housing market among both homebuyers and sellers according to the latest Central Texas Housing Report.
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Austin Real Estate News – In March, new home listings across the Austin-Round Rock-Georgetown MSA jumped to 4,714 new listings, 10.2% more than March 2023, leading to multiple markets reaching four months of inventory, according to the latest Central Texas Housing Report. The data indicates that homeowners have confidence in their ability to sell their homes for good value while buyers now have a larger selection of home options, helping to keep price growth flat.
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AUSTIN, Texas — The bluebonnets are popping along with the Austin real estate market. Spring is definitely in the air. In February across the Austin-Round Rock-Georgetown MSA, new listings jumped 44.9% to 3,915 listings bringing the total months of inventory for the region to 3 months, up 0.1 months more than February 2023, according to the latest Central Texas Housing Market Report. The data indicates that more owners are ready to sell, giving buyers a broader range of home options to choose from–specifically first-time homebuyers. Continue reading
AUSTIN, Texas — The latest Austin real estate news includes a first market analysis of the year released by the Austin Board of REALTORS® and shows an increase in residential homes sold, up 4.3% year-over-year to 1,667 closed sales, and an uptick in pending sales, which rose 3.8% to 2,480 listings, according to the latest Central Texas Housing Market Report. The data demonstrates that more options are available for potential homebuyers and sellers are feeling optimistic moving into 2024.
Clare Losey, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS, noted that although still elevated, the recent decline in mortgage rates is contributing to lower home prices and the increase in closed sales activity.
People are still moving to Austin TX. Some even want to move to Austin again. It may be taking a little longer to buy a property partly because of affordability and supply. While the supply is the best it’s been in years, it’s not a compact inventory. The Austin real estate footprint continues to expand its reach in every direction. Buyers may be able to choose a zip code, but not necessarily a neighborhood.
One of the reasons choices are limited is that homeowners are locked into historically low mortgage interest rates they aren’t motivated to lose – until they get the bug, that is. Once they get the buyer’s bug, the only cure is to buy.
For sellers who need to sell to purchase another home – that bug is getting hungry if it’s been around for a while. Now that the interest rates have settled down, the decision to move forward with the sale is a little more palatable. Lower interest rates will not only help with affordability, but they will also help with supply.