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

Per Moneywise, Grant Cardone says, "I wouldn't touch the real estate markets of either Austin, Texas or Seattle Washington with a 10 foot pole."

‘I wouldn’t touch Austin, Texas or Seattle, Washington with anybody’s money’ : Grant Cardone says these two major US cities are some of 'the worst markets to be in right now' for real estate investors — here's why Story by Bethan Moorcraft • click here for the exact moneywise article prolific real estate investor Grant Cardone has singled out two U.S. property markets he wouldn’t touch with a 10-foot pole: Austin and Seattle. Cardone shared this hot take — and many others — in an interview with Moneywise after he prompted an AI chatbot to answer the question: “What are the 10 best markets for investing in rental real estate in America?” The AI Smith response started with: “The best markets for investing in real estate in America can vary depending on factors such as population growth, job opportunities, rental demand, affordability and potential rental income.” Up until that point, Cardone — who performed the task live on camera — was pretty happy with the response. But

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.

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 booksigning event, for the "The Nation We Live In." Overall Tim was a good man and character . A worthy Austinite! Tim Harrington was quick to make friends. Just in February, randomly Tim and I participated in 3 straight days of Champions Real Estate School (off Hwy 620 & US 183) for full day required clas

Click here to watch GVM's Unicorn 1 minute Rant against the "concrete vision plan" for Zilker Park & Barton Springs Pool

Click here and skip to 1 hour 30 minutes to VIEW the Unicorn's GVM 1 minute testifying Downtown Austin City Hall council chambers Rant! Or below is a TIK TOK, my brother Willy McGee created for fun..

Search This Blog