September 2022 Austin-Round Rock MSA Housing Market continues to return to normal activity. There is more available supply and a softer appreciation of home price growth. Home sales declined 18.5% to 2,992 closed listings as active listings were up 162.4% to 9671 listings. That is the highest number of active listings in the MSA since July 2011.
Cord Shiflet, 2022 ABoR president says “Homebuyers have not had this much leverage and this many options in over a decade. We are still in a seller’s market, but as homes take longer to sell and are being bought for less than the original list price on average, and with inventory steadily increasing, right now is a great time to be a homebuyer.” “Home buyers no longer need to move at a frantic pace to find a home. There are more homes to choose from and more time to find a home that works for their needs and budget. However, interest rates are rising, so buyers still need to work with their Realtor to get prepared to make an attractive offer by taking steps in advance such as getting pre-approved for financing.”
The median home price rose 5.8% setting a record for the month of September of $555,000 for the City of Austin. Last month, new listings slightly dropped 7.9% to 1,270 listings, active listings skyrocketed 113.7% to 2,616 listings as pending sales declined by 38.1% to 644 pending sales. Monthly housing inventory increased 1.6 months year over year to 2.7 months of inventory.
To compare this year to last year this time you can go here. Contact me if you are ready for a new adventure in home selling or buying. If you are interested in a home closer to the coast my Mom is willing and ready to help you. You can contact her here. To see what their current market is doing check out her website as well.
Austin-Round Rock MSA September Market Stats
Source: Central Texas Housing Market Report – ABoR