AUSTIN, Texas — According to the Austin Board of REALTORS®October 2022 Central Texas Housing Market Report, median home prices across the MSA continued their recent trend of more stable and sustainable appreciation even while hitting $474,900—a record for the month of October. The data indicates the continued return to normal activity, with inventory also rising to 3.2 months of inventory, half the amount of housing inventory needed for a market to be considered balanced.
Last month, sales dollar volume fell by 24.6% to $1,346,229,031 as new listings declined 13.1% to 3,255 listings across the MSA. The median price increased by only 4.9% to $474,990—setting a median price record for the month of October. Pending listings dropped by 40.0% to 2,141 listings and available inventory increased by 2.2 months to 3.2 months of inventory.
In October, homes spent an average of 47 days on market, up 26 days