AUSTIN, TEXAS ~ December 2023 housing market statistics have been released by the Austin Board of Realtors® (ABoR). I've also included a recap of the full year 2023 market stats for the Austin-Round Rock metro. For the 19th consecutive month, the Austin-Round Rock MSA housing market continued its normalizing trend with more available inventory. For the 13th consecutive month, the Austin-Round Rock MSA median sales price did not increase - it decreased slightly versus December 2022. Let's look closer at the year-over-year highlights for the Austin-Round Rock MSA and Williamson County. In the Austin-Round Rock MSA for December:
What increased? Pending sales increased by 13% to 2,082, new listings increased by 8% to 1,956, active listings increased by 4% to 7,717, and average days on the market increased by 11 days to 84 days. Housing inventory increased by 0.4 months to 3.0 months available, which remains below the Texas Real Estate Research Center at Texas A&M University's benchmark of 6 months to maintain a balanced housing market.
What decreased? Closed sales decreased by 8% to 2,295 and the median sales price decreased by 1% to $443,753.
The Full Year 2023 Statistics for the Austin-Round Rock MSA:
What increased? Active listings increased by 49% to 8,792, and average days on the market increased by 38 days to 70 days.
What decreased? The median sales price decreased by 10% to $450,000. Closed sales decreased 9% to 30,438, new listings decreased 7% to 42,623, and pending sales decreased 3% to 30,353.
December 2023 Marketing Statistics for Williamson County:
What increased? Pending sales increased by 11% to 718, and average days on the market increased by 5 days to 81 days.
What decreased? Active listings decreased by 14% to 2,156, closed sales decreased by 10% to 872, and new listings decreased by 2% to 577. The median sales price decreased 2% to $425,000. Months of inventory dropped slightly to 2.5 months of inventory. As with the greater Austin-Round Rock metro, this is still well below the Texas Real Estate Research Center at Texas A&M University's benchmark of 6 months to maintain a balanced housing market.
What do these metrics indicate for those looking to make a real estate move in the Austin area?
If you're looking to purchase a home or investment property, now is a good time to take advantage of the softer median home price and increased inventory. If you'd like to speak with my clients who have recently closed or who are under contract, they are happy to share their experience working with me. If you're looking for financing options, I can also connect you to my trusted lending network which can help you explore options - consultations are free!
If you're selling you're still in a solid position to make a timely move even though there's increased competition and homes are remaining on the market longer than last year. Contact me and I can provide you with a complimentary, current competitive market analysis for your home. This will help you understand what your home is likely to sell for given the changing dynamics of the Central Texas real estate market.
Ready to make your next real estate move? Connect with 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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