It's that time of the month - time to take a deeper look at the real estate market in Austin!
Similarly to the other months of 2022 so far, April also hit a record in median sales price with $550,000, a $29,000 increase to March 2022. At the same time this is the second consecutive month that we see closed sales decline.
Active listings, however, have jumped up by 52% and month of inventory is jumping up by 0.3 months to 0.8 month - the biggest jump since August 2017.
While this is a little bit of relief, Austin is still a demand drive market with growth coming from a growing population and relocations from other cities who are looking for a place to live.
As per previous month, Caldwell County and Bastrop County are leading the charge in relative median sales price jump with 47% and 38% respectively. Caldwell County shows an increase in new listings (+85%), active listings (+59%), pending sales (+120%) and closed sales (+45%) with 22 days average days on market (down by 25 days) and month of inventory of 1.3 month. Bastrop County is also showing strong increases with 23% increase in new listings, 103% increase in active listings, 25% increase in pending sales and 20% increase in closed sales. All with an average of 24 days on market (decrease of 13 days) and 1.3 month of inventory.
The home search process (for rent or purchase) is still long and having a game plan is as important as ever. Knowing your budget, being pre-approved, understanding the value you can get for your budget, the home features you are looking for and where you're willing and ready to make compromises.
The real estate market in Austin is complex, and working with a licensed Realtor is key in achieving your real estate goals!
Text
