Austin's May 2022 Real Estate Statistics
AUSTIN, TEXAS ~ Austin-Round Rock MSA housing market statistics were released by the Austin Board of Realtors® (ABoR). Residential home sales declined 6.7% year over year as the median price rose 19.6%, maintaining the all-time record of $550,000 set in April 2022.
Also noteworthy: Active listings in May experienced triple digit percentage growth year over year and housing inventory rose to over one month of inventory for the first time in seven months.
Let's look more closely 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 rise. In the Austin-Round Rock MSA:
What increased? Identical to April's performance, the median sales price for residential homes increased 19% to the highest ever (second time in a row) at $550,000. Active listings increased 146% to 4,173, and new listings increased 18% to 5,231.
What decreased? Pending sales decreased 12% to 3,643, closed sales decreased 6% to 3,633, and average days on market decreased by 1 day to 15 days.
May housing inventory rose by 0.7 months but remained remarkably thin with just 1.2 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 18% to $509,500, active listings rose 173% to 1,272, and new listings rose 11% to 1,692 and average days on market increased by 3 days to 13 days.
What decreased? Pending sales decreased 17% to 1,215, and closed sales decreased 9% to 1,210.
Months of inventory rose slightly for March by 0.7 months to 1.1 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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