AUSTIN, TEXAS ~ December housing market statistics were released by the Austin Board of Realtors® (ABoR) and 2021 was a banner year for the Austin-Round Rock Metropolitan Statistical Area (MSA).
Cord Shiflet, 2022 ABoR President, said: "In 2021, we lived through the most exciting, complicated, fast-paced and record-setting housing market in Austin’s history."
Let's look at the year over year highlights for the Austin-Round Rock MSA and Williamson County where the area's inventory continued to struggle to meet demand while prices continue to be on the rise. In the Austin-Round Rock MSA:
What increased? The median sales price for residential homes increased 30% to $476,700 and active listings increased 5% to 2,042. In the City of Austin alone the median sales price rose 19.4% to $555,000, an all-time monthly record.
What decreased? Average days on market decreased by 12 days to 25, pending sales decreased 11% to 2,654, new listings decreased 10% to 2,170, and closed sales decreased 4% to 3,513.
As with June 2020 through November 2021, monthly housing inventory continues to comparatively decrease yearly to well below Texas A&M University’s Real Estate Center benchmark of 6 months to maintain a balanced housing market; this indicates a strong seller's market.
Heading north to Williamson County:
What increased? Quite a bit! The median sales price rose 38% to $450,000 and active listings rose 34% to 542. Months of inventory was essentially flat but rose slightly 0.1 months to 0.5 months of inventory. As with the greater Austin-Round Rock metro this is far below the Real Estate Center at Texas A&M University’s benchmark of 6 months to maintain a balanced housing market.
What decreased? Average days on market decreased by 10 days to 22 days. Pending sales, new listings and closed sales decreased 2-4% as shown above.
What does this activity mean for those looking to make a real estate move in the Austin area?
If you're selling you're in a great position to make a timely move! Contact me and I can provide you with a complimentary, current competitive market analysis for your home which will help you best understand what your home is likely to sell for given our fast-paced market.
If you're looking to purchase real estate, my expertise and large Keller Williams network is helping connect sellers and buyers even before homes hit the market. If you'd like to speak with my recent clients who have recently closed or who are under contract, let me know!
Ready to make your next real estate move? Contact me and let's discuss your goals and the current market conditions and let's set a plan to leverage both to your advantage!
Joe Paul Reider
Home Style Austin Founder Austin Realtor®, CLRA Keller Williams Realty, Inc.
Email: JoePaul@KW.com Mobile: 512-222-3302 Web: JoePaulReider.KW.com
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