New data shows Austin area housing market is calming slightly

The area again hit an all-time high for August with a median selling price of $ 470,000, but prices are no longer rising at a significant rate month over month.

AUSTIN, Texas – New data shows the Austin-area housing market is still warm, but cooling slightly.

According to the August report from the Austin Board of Realtors (ABoR), home sales were down 4.6% from August 2020. The report says that despite setting a record for the month of August with a median selling price of $ 470,000 in the region, prices are not increasing at a significant month-to-month rate.

“The region’s housing market is calming from the frantic pace experienced at the start of the year,” said Susan Horton, ABoR 2021 president. “While it is not appropriate to say that conditions the market normalizes – stocks are still at an all-time low and homes are still selling as soon as they hit the market – August real estate activity is closer to what we would typically experience in the fall . “

According to the report, while home sales in the Austin-Round Rock area fell 4.6% to 3,849, the median selling price rose 34.7% year-on-year to 470 $ 000.

In July, 4,041 homes sold and the median selling price rose 37.1% year-on-year to $ 480,000 – a record for that month.

Meanwhile, stocks look slightly better, according to the August report. The report says there is now one month of inventory available, the highest level of inventory in the region since October 2020.

In August, new registrations increased 14.1% to 4,409 registrations; active registrations decreased 19.1% year over year to 3,380 registrations; and pending sales declined 8.6% to 3,970 listings.

Homes averaged only 14 days on the market in August across the region, a decrease of 30 days from the previous year, but more than the 12 days homes were on the market in August. July.

For a breakdown of how the housing market has developed in August in Austin and Travis, Williamson, Hays, Bastrop and Caldwell counties, check out the full August report.

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