Aug 17, 20222 min read

Austin's July 2022 Real Estate Statistics

AUSTIN, TEXAS ~ Austin-Round Rock MSA July 2022 housing market statistics have been released by the Austin Board of Realtors® (ABoR). July's median price grew by only 8% year over year to $515,000, a record for the month of July, but it marked the first time home price growth has been in the single digits since June 2020. The region’s housing inventory reached the highest level of inventory since November 2018 — a continued indicator that the housing market is returning to pre-COVID normalcy.

Cord Shiflet, 2022 ABoR President, said: "Homes sold slightly below list price for the first time since December 2020, proving that buyers are gaining negotiating power in the market."

Let's look more closely at the year over year highlights for the Austin-Round Rock MSA and Williamson County where the area's inventory continues to struggle to meet demand while prices continue to rise. In the Austin-Round Rock MSA:

What increased? Active listings rose 167% to 8,709, the median sales price increased 8% to $515,000 and average days on market increased by 10 days to 22 days.
What decreased? Closed sales decreased 28% to 2,849 and pending sales decreased 25% to 2,774.
July housing inventory rose by 1.8 months but remained remarkably thin with just 2.7 months available which remains well below Texas A&M University’s Real Estate Center benchmark of 6 months to maintain a balanced housing market; continued evidence of a strong seller's market.

Heading north to Williamson County:

What increased? Active listings rose 187% to 2,868, the median sales price  rose 10% to $485,000 and average days on market increased by 9 days to 19 days. New listings were essentially flat at <1%.
What decreased? Closed sales decreased 32% to 961 and pending sales decreased 22% to 956.
Months of inventory rose by 1.8 months to 2.6 months of inventory. As with the greater Austin-Round Rock metro, this is well below the Real Estate Center at Texas A&M University’s benchmark of 6 months to maintain a balanced housing market.

What does this activity mean for those looking to make a real estate move in the Austin area?

If you're selling you're in a great position to make a timely move! Contact me and I can provide you with a complimentary, current competitive market analysis for your home which will help you best understand what your home is likely to sell for given our fast-paced market.
If you're looking to purchase a home or investment property, my expertise and large Keller Williams network is helping connect sellers and buyers even before homes hit the market. If you'd like to speak with my clients who have recently closed or who are under contract, I'm happy to provide you with their contact information.

Ready to make your next real estate move? Contact me and let's discuss your goals and the current market conditions and let's set a plan into action to leverage both to your advantage!