AUSTIN, TEXAS ~ November housing market statistics were released by the Austin Board of Realtors® (ABoR) and residential home sales decreased 4% across the Austin-Round Rock Metropolitan Statistical Area (MSA).
Despite the November dip in sales, the Austin-Round Rock MSA is on track for a record-breaking year.
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 29% to $470,000, which is a new record high for the month of November. Pending sales increased 7% to 3,407 and new listings rose 6% to 2,950.
What decreased? Average days on market decreased by 13 days to 22, closed sales decreased 4% to 3,215 and active listing decreased 2% to 2,768.
As with June 2020 through October 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? The median sales price rose 36% to $445,000, active listings rose 24% to 753, pending sales increased 13% to 1,151, new listings rose 12% to 1,011. Months of inventory also rose 0.2 months to 0.7 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 15 days to just 19 days and closed sales decreased 1% to 1,105 homes.
Susan Horton, 2021 ABoR President, said: “ There is plenty of opportunity and our market is still readily accessible for homebuyers across all price levels.”
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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