Here are the September/2022 MLS single-family statistics for Austin, TX:
The number of reds and greens and their placement hasn’t changed much since May when our slowdown became more pronounced, but since then, the numbers have done this:Listings peaked at +233% in June, but has trended down since:
- Listings peaked at +233% in June, but has trended down since
- Pendings also peaked in June at -35% and has fluctuated in a range to 26% since
- Sales peaked at -29% in July, improving each month since
- Inventory peaked in June at +317%, but steadily trending down since
- Median price peaked at +18% in May, trending down to +3% in September
- Average price peaked at +16% in May, trending down to +3% in September
- Days on market has steadily increased each month since May
- Activity Index has also steadily increased each month since May
I list
these out to show that, while our Austin real estate market has experienced a
definite slowdown, the sky isn’t falling as some in the media have professed.
Below are our numbers through September (which ends the 3rd quarter) and you
can see that prices have held up well in spite of our slowing activity numbers.
Below is
a chart showing the 2 most important categories with any real estate market:
Average/Median sale prices and months of inventory. Sale
prices have not gone negative, but we have been seeing home sellers reducing their listing
or asking price the past month or so. Our months of
inventory, while going up dramatically since January, has flattened the past 3 months
at 3.1-3.2 months. Less than 6 months of inventory indicate a seller’s
market while more than that reflects a buyer’s market.
(512) 853-0110 or robert@AustinTxHomeSales.com
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