The world's largest real estate franchise by agent count
Below are the 5-year graphs for our Austin single family home
sales in Jan/2023. As you can see, our average sales prices dropped $13,827
(-2.4%), home sales decreased 614 (-27.3%), and monthly inventory increased by
2.3 months (+675%) over January, 2022 numbers. Even though the inventory jump
was large, it was actually the 3rd month in a row of our decreasing inventory.
Lower inventory translates into higher prices due to supply and demand theory.
our home prices, you can see on the chart below that Median prices went from
$190,000 in Jan/2013 to $349,645 in Jan/2023 (10 years) which is an increase of
84%, or 8.4% / year. So, while activity numbers are off, we are
still doing well with pricing staying strong.