Homebuyers in the Austin metro area might be able to breathe just a tad easier these days.
A report from the Austin Board of Realtors shows the number of home sales this September fell 5.1 percent compared with last September. However, the median sale price grew 28.5 percent to $450,000, setting an all-time high for the month of September.
This represents a dip from August 2021, when the median home price in the metro area was $470,00, which was a dip from the July 2021 median home price of $480,000.
For the month of September, housing inventory fell and homes spent five fewer days on the market compared with September 2020.
An ABoR news release declares that the region’s housing market continues its “calming trend.”
“The Austin housing market remains strong and competitive,” Susan Horton, president of ABoR, says in the news release. “However, more homes are beginning to hit the market, evidenced by the increase in new listings in September, which is creating a greater number of opportunities for buyers. While this is a positive step forward, there is a long way to go for this to be a balanced market.”
Horton emphasizes the need to address the region’s housing challenges.
“With the region’s continued growth, we must focus on creating more inventory to meet the increasingly high and sustained demand for housing,” she says. “This isn’t just on our elected officials or industry to solve, but rather on the entire community. We have to put housing first and use all the tools we have in the toolbox to address this issue.”
Here’s how home prices stacked up last month in the Austin area:
- In the city of Austin, the median home price rose 28 percent in a year’s time to $525,000 — a record high for the month of September.
- In Travis County, the median price jumped 22.9 percent to $510,000.
- In Williamson County, the median home price rose 37.5 percent to $435,000.
- Hays County saw the median home price climb 16.3 percent to $365,000.
- In September, the median home price in Bastrop County increased 25.5 percent to $335,000.
- Caldwell County witnessed a 19.6 percent rise in the median home price to $259,000.