Austin-MSA Real Estate: A Two-Year Analysis - October 2023
Published | Posted by Dan Price
Over the last two years, Austin's real estate market, spanning the counties of Travis, Williamson, Bastrop, Hays, Caldwell, and Burnet, has presented an intricate tapestry of figures and percentages, revealing the nuanced dynamics of the sector.
Diving into the data, we see the monthly sales volume demonstrating notable fluctuations. For example, March 2022 heralded an increase in sales by 28.7%, translating to 3,319 properties sold. However, January 2022 painted a contrasting picture with a 36.6% decrease, resulting in 2,281 properties finding new owners. During the same period, the average sale price charted its own course, mostly on an upward trajectory. It peaked in February 2022 at $777,711 but saw its lowest in October 2021 at $561,664.
The median sale price, which indicates the mid-point in the list of all sales prices, added another layer to the analysis. In April 2022, this figure rose to $550,000, but by January 2023, it had retreated to $445,990. Yet, this wasn’t a sheer decline. The numbers experienced crests and troughs, epitomizing the market's dynamic nature. A consistent trend was observed in the ratio between the sold to list price ratio. This figure, for the most part, hovered above the 95% mark. Specifically, in May 2022, the sold to list ratio stood at a commendable 105.0%, implying that homes were sold for higher than listed.
In wrapping up, Austin's real estate scenario over the examined period emerges as a blend of vigor and variability. The data, interspersed with highs and lows, underscores the region's evolving real estate fabric. For those vested in the property market, whether as stakeholders or observers, these insights serve as a crucial compass in navigating Austin's real estate terrain.
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