AUSTIN, TX — In September, the Austin–Round Rock MSA housing market continued to return to normal activity with more available supply and a softer appreciation of home price growth according to the latest Central Texas Housing Market Report released by the Austin Board of REALTORS®. Home sales declined 18.5% to 2,992 closed listings as active listings were up 162.4% to 9,671 listings—the highest number of active listings in the MSA since July 2011.
Last month, sales dollar volume fell by 12.7% to $1,777,575,531 as new listings declined 3.8% to 3,967 listings across the MSA. The median price increased by only 5.6% to $470,000—setting a median price record for the month of September. Pending listings fell by 29.7% to 2,365 listings and available inventory increased by 2.1 months to 3.1 months of inventory, a little more than half the amount of inventory for a market to be considered balanced.
In September, homes spent an average of 40 days on market, up 23 days from September 2021.
City of Austin
In September, home sales decreased 31.6% to 783 sales, while sales dollar volume decreased 21.5% to $549,428,516. At the same time, median price rose 5.8% setting a record for the month of September of $555,000 for the City of Austin. Last month, new listings slightly dropped 7.9% to 1,270 listings, active listings skyrocketed 113.7% to 2,616 listings as pending sales declined by 38.1% to 644 pending sales. Monthly housing inventory increased 1.6 months year over year to 2.7 months of inventory.
Travis County
In Travis County, home sales decreased 30.5% to 1,242 sales, while sales dollar volume decreased 24% to $880,094,633. Last month, median price in Travis County rose 9.7% year over year to $550,000 as new listings decreased 4.1% to 2,017 listings and active listings ballooned 131.5% to 4,495 listings year over year. Pending sales declined 34% to 1,065 as monthly housing inventory increased 1.9 months year over year to 3 months of inventory.
Williamson County
September home sales decreased 19% to 1,006 sales in Williamson County. Sales dollar volume declined 13% year over year to $515,336,737. The median price increased 5.8% to $455,000 as new listings dropped 8.5% to 1,196 listings. During the same period, active listings soared 230.1% to 3,245 listings while pending sales dropped 35.7% to 786 pending sales. Housing inventory rose 2.3 months to 3.1 months of inventory.
Hays County
In Hays County, September home sales increased 12.6% to 544 sales, while sales dollar volume also slightly increased 32.8% to $298,326,277. The median price for homes rose 15.5% to $410,000. During the same period, new listings declined 8.7% to 471 listings, while active listings skyrocketed by 137.6% to 1,297 listings. Pending sales decreased 7.7% to 347 pending sales as housing inventory jumped by 1.9 months to 3.2 months of inventory.
Bastrop County
Last month, Bastrop County home sales increased 25.4% year over year to 158 sales, while sales dollar volume also rose by 41.6% to $68,357,432. Median price increased 13.3% to $379,495 as new listings rose 45% to 232 listings. Active listings soared 193.2% to 519 listings as pending sales also increased 21.1% to 138 pending sales. Housing inventory increased 2.7 months to 4 months of inventory, the highest level of inventory across the MSA in September.
Caldwell County
In Caldwell County in September, home sales increased 23.5% to 42 home sales, and sales dollar volume dropped 2.9% to $13,677,753. The median home price rose 29.5% year over year to $336,760. At the same time, new listings increased by 41.7% to 51 listings as active listings skyrocketed 202.6% to 115 listings. Pending sales dropped 21.6% to 29 pending sales, and housing inventory increased 1.5 months to 2.7 months of inventory.
For more information or to download the September 2022 Central Texas Housing Market Report, visit ABoR.com/MarketStatistics.