Austin's March 2022 Real Estate Statistics
AUSTIN, TEXAS ~ Austin-Round Rock MSA housing market statistics were released by the Austin Board of Realtors® (ABoR). March metrics resulted in a 5% decrease in home sales, inventory rose slightly with March delivering the highest median home price ever at $521,100. Also announced with the March results was greater evidence of the fierce competition for Austin housing with 146 net growth of people each day moving to the area based on Census Bureau’s 2021 population estimates.
Cord Shiflet, 2022 ABoR President, said: "Rising home prices along with nationwide inflation and rising interest rates can seed caution in the market, so it’s important to remember that we are still experiencing a very active housing market driven by true demand, not investor speculation"
Let's look at the year over year highlights for the Austin-Round Rock MSA and Williamson County where the area's inventory continues 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 22% to the highest ever at $521,100 and active listings increased 46% to 1,731.
What decreased? Average days on market decreased by 6 days to 21, pending sales decreased 11% to 3,597 and closed sales decreased 5% to 3,302 and new listings decreased 1% to 4,150.
March housing inventory remained remarkably thin with just 0.5 months available which is well below Texas A&M University’s Real Estate Center benchmark of 6 months to maintain a balanced housing market; continued evidence of a strong seller's market.
Heading north to Williamson County:
What increased? The median sales price rose 22% to $490,000, active listings rose 66% to 428 and average days on market increased by 2 days to 19 days.
What decreased? Pending sales decreased 7% to 1,219, closed sales decreased 3% to 1,115 and new listings decreased <1% to 1,344.
Months of inventory rose slightly for March by 0.2 months to 0.4 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 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 a home or investment property, 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 clients who have recently closed or who are under contract, I'm happy to provide you with their contact information.
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 into action 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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