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The Austin housing market is seeing a massive surge in inventory, reaching the highest level in 13 years. In this video, we dive into the latest market report from the Austin Board of Realtors, showing an increase in new listings and active listings, while pending sales are down. Buyers now have more options, and sellers are getting impatient.
Median sales price around $459,000
New listings up 16.3% year-over-year
Active listings up nearly 38% year-over-year
Months of inventory at 4.9, up from 3.4 in May 2023
Over 2,000 price decreases in the last 7 days
We also discuss the impact of higher interest rates, creative financing options, and affordability in areas like Williamson and Hays Counties.
Would you buy a home in this market? Drop a comment and let me know your thoughts!
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Ian Grossman
📲 512.705.5225
💻 ian.grossman@elliman.com
Lindsey Fenton
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💻 lindsey.fenton@elliman.com
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