We are currently bombarded with scary headlines in the news such as “Inventory Spikes in Austin,” “Austin Housing Market could cool down in 2022” and many more. What is really going on?
Let’s look at the facts. Here is an update with year over year statics from April 2021 to April 2022:
- Sales price: up 18%
- Days on Market: up 5.4 days
- New Listings: up 24%
- Sold Listings: down 37%
Active listings in Austin is 4,551
Average List Price is $990,000
Inventory is now .8 months which is well below a balanced market of 6 months.
The Austin market is shifting ever so slighting. The market has been extremely in favor of sellers, so some balancing out, evens the playing field a little bit. After a long harsh, drought of homes for sale, we are finally seeing more inventory coming on the market. It appears the crunch is easing some. Values are still increasing, however, at a more reasonable pace.
Austin is feeling the effect of escalating interest rates, elevated property taxes, the return to the work place, renewed travel, and soaring gas and food prices. The good news is the Austin metro area’s unemployment rate fell to 2.7% in March 2022, the lowest level since the start of the pandemic.
Listening to experts it sounds like appreciation in 2023 will be around 4.5% compared to 2021-2022 11%. I will be keeping a watch on the data as we move through 2022 to keep you updated. If you are thinking of selling, planning a strategy to help you stand out from your competition is my specialty. Give me a call if you have any questions or I can help in any way.
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(512) 750-6899 ReloAustin.com CanyonCreekNews.com |
I specialize in Listing and Selling homes in the NW Austin Area. I use my experience to guide clients through the process, whether selling or buying. It’s a beautiful thing when your career and a passion come together. I love what I do!
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