Per Culture Map; Austin, Texas housing inventory skyrockets to highest levels since 2018

REAL ESTATE REPORT

Austin housing inventory skyrockets to highest levels since 2018

Aug 16, 2022, 11:40 am

More signs of relief for the Austin, Texas housing market. The latest monthly report from Austin Board of Realtors, released Tuesday, August 16, offers indications that the market is continuing to stabilize.

There are still new records to report, but “In every aspect of our market," says Cord Shiflet, 2022 ABoR president, in a release, "Realtors are seeing positive signs that Austin’s housing market continues to normalize.”

One of the most promising signs is an explosion of inventory in the Austin-Round Rock metro area. In July 2022, the region's housing inventory reached 2.7 months — the highest level seen since November 2018, ABOR notes, and an increase from the 2.1 months reported in June 2022.

“On top of rising housing inventory, home price growth is much closer to the 4-5 [percent] annual growth that is typical for a healthy market," Shiflet says.

In July 2022, the median metro home price reached $515,000, and while that's still the highest price on record for the month of July, the year-over-year growth rate of 8 percent is considerably lower than the pace we've come to expect.

Meanwhile, the median price in the city limits clocked in at $633,000, and a median-priced Travis County home was $610,000. While both represent an approximately 11 percent price increase from July 2021, the county median has dropped slightly from June 2022.

And, good news for prospective buyers: "[Last month] homes sold slightly below list price for the first time since December 2020, proving that BUYERS are gaining negotiating power in the market,” according to Shiflet.

Comments

Sad News. Tim Harrington of Austin, Texas passed away in mid-February 2024 from a heart attack. His Memorial Service is 2/29/2024 2 pm, @ Austin Ridge Bible Church in Westlake.

The Above Photo was taken by Jim Innes during his Podium Eulogy talk for Tim Harrington. To Say the Westlake Austin Ridge Bible Church memorial service was PACKED, would be an understatement. Tim Harrington was a good man, and friend of many. He was relatable, authentic, funny, caring and social. George Vance..... Just making sure you know that Tim Harrington passed away last weekend. Heart attack. Tim’s Memorial Service will be: 2/29/24 at 2 PM at Austin Ridge Bible Church at 9300 Bee Cave Rd, Austin, TX 78733 in Westlake. At the Worship Center building. Please spread the word. GVM speaking here, "Tim showed up on my 40th birthday at Pitch N Putt for an afternoon of golf and bullshit. Tim was in good spirits that afternoon after boasting of his mega million dollar commercial fresh sale in SoCo. St. Elmo @ the ol' Hills Cafe. Tim was a former SOUTHWESTERN door to door salesman and alumnus like me. A fellow bookman. Tim showed up @ my BookPeople booksignin...

Bonnie Fish McGee's Spooky 1st Birthday Party! Oct. 19th, 2024. Good times.

Austin, Texas has a DOG PROBLEM.....

Austin, Texas has a DOG problem (Letter I wrote and sent) Dear Austin City Council Members, Hello and well regards, Yesterday afternoon during a simple bicycle pedal exercise ride, I was physically chased by an unleashed Pitbull dog in ZILKER PARK. Then directly after recovering from almost being mauled by an unleashed pit-bull in Zilker Park, I attempted to buy a Gatorade at a nearby Barton Springs Road Market, but that didn't go well either, as an interior Market commercial customer had a massive mixed breed dog trolling through the diminutive shopping isles. Then this morning, at a Coffee shop on SoCo, there was only 1 entry way in and out, and there was another large, although more docile mixed breed dog. All of this has occurred in less than 24 hours. What's the point? The City of Austin's dog friendliness and citizen enabling of irresponsible dog owners has gotten out of control. Newsflash! Not everybody like dogs, being everywhere all the time. especially within ...

Search This Blog