Record Setting Prices in Central Texas
In 2022, the median price for a home in the Austin-Round Rock MSA set a new annual record of $503,000, according to the December 2022 and Year-End Central Texas Housing Market Report released by the Austin Board of REALTORS®. Despite this record, the housing market continued shifting towards buyers as home sales declined 18.3% to 33,547 homes sold last year and inventory increased, with homes on the market for 31 days, 11 days more than in 2021.
In 2022, the median price in the MSA rose 11.4% $503,000. Sales dollar volume dipped 9.8% to yield a $21,018,159,929 impact on the Austin-area economy. New listings stayed flat, and the year ended with 45,949 homes listed as pending sales dropped 24.2% to 31,633 homes. In the month of December, closed listings across the MSA declined 31.5% to 2,435 year-over-year as sales dollar volume decreased 36.1% to $1,357,155,494. Median sales price dropped 3.7% to $457,426. New listings declined 15.1% to 1,828 listings, active listings skyrocketed 275.4% to 7,493 listings, and pending sales dropped 22.8% in December to 1,949 sales. Last month, homes spent an average of 73 days on the market, 47 more compared to December 2021.
To view the entire market report including surrounding Austin cities/counties, click here.
To compare with last year’s market stats, click here.
**Market stats provided by ABoR