Austin Housing Market

A Comprehensive Analysis : May 04 2023

Shifting Dynamics: Austin-Area MLS Inventory Increases, Prices Decrease, and Competition Heats Up

AUSTIN-TX, May 04 2023 : The Austin-Area MLS has experienced a significant increase in inventory over the past year, with a total of 10,221 active listings, up from 6,762 last year. This growth is particularly notable in the City of Austin, where inventory has increased 2.5 times. The Months of Inventory (MOI), which measures the current level of consumption based on sold properties, has risen to 3.44 months, indicating a shift in the supply and demand balance and offering more options to potential homebuyers.

In terms of pricing, the average list price for active homes in the Austin-Area MLS is $705,111, representing a 3.83% decrease YoY, while the median sold price is $450,000, marking a 16.36% decrease YoY. However, the average sold price to list price ratio is 97.25%, indicating properties are generally selling close to their list prices.

The real estate market in Central Texas has seen some price increases month-over-month, with 70% of cities experiencing an increase, while 30% have seen a decrease. However, 90% of cities have witnessed a year-over-year price decrease, with only 10% experiencing a price increase. A similar trend is observed in zip codes, where 63% of zip codes have seen a month-over-month price increase, but only 11% have experienced a price increase YoY.

Despite the decrease in average and median sold prices, the average sold price to list price ratio remains close to 97%, indicating properties are generally selling near their list prices. A higher percentage of properties are selling over the list price compared to earlier this year, indicating increased competition among buyers in some areas. Buyers can benefit from the increased inventory and potentially lower prices, while sellers should adjust their expectations and pricing strategies to remain competitive in the market.

Austin Area Residential Sales Insights

Central Texas MLS | Four Rivers Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Jenn Kuenzler may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2022 All rights reserved.

© 2023 North Texas Real Estate Information Systems, Inc. All rights reserved. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Jenn Kuenzler shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The database information herein is provided from and copyrighted by the North Texas Real Estate Information Systems, Inc. NTREIS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. The advertisements herein are merely indications to bid and are not offers to sell which may be accepted. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Based on information from the Austin Board of REALTORS®. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided "AS IS" and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

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Austin Housing Market

Shifting Dynamics: Austin-Area MLS Inventory Increases, Prices Decrease, and Competition Heats Up

Austin Area Residential Sales Insights

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Austin Housing Market

Shifting Dynamics: Austin-Area MLS Inventory Increases, Prices Decrease, and Competition Heats Up

Austin Area Residential Sales Insights