Happy Thursday, Y'all! As summer steadily winds down, it’s interesting to look back on how far we’ve come since last summer, especially in the housing market. Last summer, we were at an all-time high for housing sales after an extensive period of stay-at-home limitations. Now, for the first time in months, the latest Austin housing market stats for July reveal a new change: Total home sales for July 2021 have decreased by 10 percent compared to July 2020. And this makes sense, as last July we experienced a record boom due to lessened Covid restrictions, shifting home trends and both increased travel and buyer purchasing power.
But now things are steadying! As you can see from the full July market stats below, home prices are still up in Austin with a continued trend of low inventory, but — this is the important note to remember — the market IS stabilizing. Home prices are rising much slower than the first half of 2021, and we are no longer seeing long lines out the door for home showings or crazy multiple-offer battles. If you or someone you know are ready to lock down a home in Austin, then right now is an amazing opportunity to do so with a more stabilized market! And although there’s a slight dip in home sales from last July, inventory is currently at a low .9 months. So this, along with Austin remaining one of the most desirable U.S. cities to live in, makes it an ideal time to sell as well and get top dollar on your home!
I am proud to say that the Ellevé team has a combined 30+ years of real estate experience, and because of our expert market knowledge, resources and exclusive, cutting-edge Compass tools, we continually help our clients exceed their real estate goals (and make it a fun, enjoyable journey along the way)! If you or someone you know are ready to finally dip back into Austin real estate and buy or sell at this time, then please reach out! My team and I are always here, and we would love to help with any real estate needs.