AUSTIN, TEXAS ~ September housing market statistics were just released by the Austin Board of Realtors® (ABoR) and residential home sales decreased slightly once again across the Austin-Round Rock Metropolitan Statistical Area (MSA). The market is showing signs of normalizing in terms of number of sales but the median sales price set a new September record high. Housing affordability and increasing available inventory should continue to be a top priority for the region.
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 price for residential homes increased 28% to $450,000 and new listings increased 16% to 4,136.
What decreased? Average days on market decreased by 22 days to 17, closed sales decreased 5% to 3,682 and pending sales decreased just 1% to 3,552.
Active listings were flat. As with June 2020 through August 2021, monthly housing inventory decreased once again to just 1.1 month of inventory; this is well below the Real Estate Center at Texas A&M University’s benchmark of 6 months to maintain a balanced housing market indicating a strong seller's market.
Heading north to Williamson County:
What increased? The median sales price rose 37% to $435,000, new listings rose 26% to 1,306, active listings rose 19% to 981 and pending sales increased 7% to 1,293.
What decreased? Average days on market decreased by 25 days to just 16 days and closed sales decreased 2% to 1,269 homes. Housing inventory was flat remaining at just 0.8 months of inventory. As with the greater Austin 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.
Laura Huffman, President and CEO of the Austin Chamber of Commerce, said: “Tesla moving its headquarters here has cemented Austin as a hub of the tech and innovation industry with the potential for limitless opportunities.”
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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