Well, March and Q1 have come and gone, and we’ve got the market snapshot ready.
Unfortunately, those who were hoping for a better outcome in March were sorely disappointed. The market continued to trend as it had in the first 2 months of the quarter. Overall, Austin – RoundRock MSA averages saw dips in Median Sales, Closed Sales, and Total Sales Volume, with upticks in Average Days on Market and Months of Inventory. To summarize – properties are sitting on the market longer, selling slower, and selling less in volume and price.
The only 2 outliers in March came from Bastrop County, showing a less than 1% increase in Closed Sales at 129, and Hays County, reporting a 2.8% increase in Closed Sales at 400.
All other counties fell in line with the trend of median sales, closed sales, and total sales volumes declining, while average days on market and months of inventory continue to rise.
Median Sales drops range from just 8% in Caldwell County to 17% in Bastrop.
Closed Sales drops range from a mere 4% in Caldwell County to a 24% in Austin.
Average Days on Market rose from between 27 days in Caldwell to over 70 days in Hays.
Total Sales Volume drops range from 16% in Hays County to over 30% in Austin, at $534 Million.
Months of Inventory ranges rose from between 1.8 months in Hays County to 3.1 months in Bastrop.
For more in-depth analysis and market metrics to a particular MLS area, visit Patten Title’s Dynamic Market Statistics Dashboard.
