In the Austin-Round Rock MSA, July’s real estate trends showcased stability and strength. The Austin Board of REALTORS® data indicates a modest 0.6% year-over-year boost in closed listings, reaching 2,815 sales. Paired with a 14.5% surge in pending sales, 2023 is set for a robust conclusion.
While the market shows promising stability, there have been notable shifts: sales dollar volume decreased by 7.2%, and the median home price receded by 10.3%. Homes also lingered on the market, with an average listing duration of 59 days, which is markedly longer than the previous year.
This month’s insights also spotlight the looming affordability concern. With the median family income in the Austin-Round Rock MSA at $122,300, most homes sold in July surpassed the typical budget for many Austin families.
Consequently, while the market stands resilient, addressing housing affordability remains paramount. Recent moves by the Austin City Council are just the beginning. Austin’s housing journey calls for transformative measures to ensure affordable homes for all.
View the full report along with specific county details below:
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