Real Estate Report

Austin housing market shifts with most active listings in more than a decade

Jessie Street home front Austin tour of remodeled homes

In September 2022, the Austin-Round Rock housing market saw active listings skyrocket by 162 percent.

Photo courtesy of Austin NARI Tour of Remodeled Homes

In August, a national report predicted that Austin's housing market would see the most dramatic swing from a seller's to a buyer's market by summer 2023. The Capital City seems to be headed in that direction, with the latest monthly report from Austin Board of Realtors showing an unprecedented increase in active listings and home price growth that continues to return to normal levels.

In September 2022, the Austin-Round Rock housing market saw active listings skyrocket by 162 percent, to 9,671 listings. It's the highest number of active listings for the market since July 2011, ABoR says.

Meanwhile, the metro's housing inventory sat at 3.1 months in September, up a significant 2.1 months from a year ago; the city of Austin boasted 2.7 months of inventory, and Travis County had three months of housing inventory at the close of the month.

At the metro level, homes were on the market 40 days, more than three weeks longer than a year ago, and they sold at 95 percent of their list price.

Says Cord Shiflet, 2022 ABoR president: “Sellers need to know that the days of multiple offers way over asking price are a thing of the past."

In September, the median home price for the metro was $470,000, up 5.6 percent from the previous year, but actually quite a bit lower than the August 2022 median price of $496,038.

In Austin, the median price clocked in at $550,000, up 5.8 percent year-over-year and the same as August 2022. Travis County also had a median home price of $550,000, up almost 10 percent from a year ago, but down from $570,000 in August.

“Homebuyers have not had this much leverage and this many options in over a decade,” Shiflet says via release. “We’re still in a seller’s market, but as homes take longer to sell and are being bought for less than the original list price on average, and with inventory steadily increasing, right now is a great time to be a homebuyer in Central Texas.”

a barton creek paradise

$15.2 million Austin sanctuary is in the middle of a nature conservancy

The Sanctuary on Barton Creek, Austin home for sale

Photo courtesy of Peyton Skinner

The Sanctuary on Barton Creek sits on 24 acres of untouched Hill Country land.

Living on an expansive estate teeming with untouched nature and vegetation may seem like a priceless dream, but a lavish property in West Austin has a cost in mind: $15.2 million.

Photo courtesy of Peyton Skinner

The Sanctuary on Barton Creek sits on 24 acres of untouched Hill Country land.

The Sanctuary on Barton Creek is a 24-acre estate with an Austin address, although it is located near Bee Cave, a Hill Country suburb. The entrance of the property is double gated, and the area is completely surrounded by a 4,100-acre nature conservancy to provide a peaceful and private escape from the ever-changing landscape of the Texas capital.

The 7,931-square-foot main house contains seven spacious bedrooms, five full bathrooms, and one half bath. The listing, managed by Douglas Elliman sales agents Jeanne Parker and Julie Mack, describes the modernly updated home as a place where "elegance and comfort intertwine seamlessly."

The Sanctuary on Barton Creek, Austin home for sale The estate is a private and peaceful oasis.Photo courtesy of Peyton Skinner

The new Wolf appliances in the state-of-the-art chef's kitchen is a primary example of the sophisticated upgrades that have been completed on the residence. The primary bathroom has also been completely remodeled, where the next owners can be enamored with the privacy of the Hill Country while enjoying luxurious baths in the standalone soaking tub.

Another key feature of this home is its abundance of fireplaces, which can be found in bedrooms, living areas, balconies, and outdoors.

The property is also suited for hosting friends and family with two additional buildings: A fully equipped guest house, and a lofted "executive lodge" that can be used as additional guest quarters, game room, or executive office.

Like the rest of the residences on the estate, the executive lodge has breathtaking views of the Hill Country that can be admired from the spacious balcony or large windows. The space sits above a three-car garage that comes with a pull-through for a RV and a dog washing station.

The Sanctuary on Barton Creek, Austin home for sale The spacious executive lodge also comes with a kitchenette, making it suitable for hosting guests or using as an office.Photo courtesy of Peyton Skinner

All of the residences open up to the backyard pool area where guests can relax under the covered veranda, the patio, or take a dip in the resort-style custom designed pools. There's plenty of outdoor activities to enjoy if exploring the property's untouched 24 acres is a more appealing alternative to sitting by the pool.

"Enjoy honey made from the hives on the property which provide not only an agricultural exemption, but also promote a healthy environment for everyone," the listing says.

Guests are also welcome to go fishing or paddle boarding in Barton Creek, where the estate has more than 200 feet of grassy shoreline access to the water.

The property is zoned for Lake Travis Independent School District, and is situated just minutes away from the Hill Country Galleria in Bee Cave.