The Latest Austin Housing Market Stats Are Here! + Top Things to Do this Weekend
Austin Location: Stevie Ray Vaughan Statue | 210 Ann and Roy Butler Hike and Bike Trail
Happy Thursday, Y’all! The latest market stats for Austin are here. And according to the Austin Board of Realtors' July 2022 Central Texas Housing Market Report, home sales decreased 35.3% to 835 sales, while the median price rose 11.1% setting a record for the month of July of $633,000 for the City of Austin.
Last month, new listings slightly decreased 0.8% to 1,592 listings and active listings rose 127.8% to 2,410 listings. Monthly housing inventory increased 1.5 months year over year to 2.4 months of inventory, which means more to choose from for buyers. (Keep reading down below for a quick snapshot.)
These market stats show, on a macro level, we are down-shifting towards a more balanced market with prices accelerating much less than we've seen over the past few years. On a micro level, we are seeing that depending on the neighborhood and price point, the activity is across the board. It's a great time for investors or first-time home buyers to snag homes under $400K right now within 30 minutes of downtown. We're seeing homes sell closer to their list price and sometimes below!