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.
Regarding 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.
(512) 853-0110 or robert@AustinTxHomeSales.com
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