Austin Market Report - November 2021

[David Ivy]

Happy Holidays! The November 2021 Austin market numbers are out from the Austin Board of Realtors. The Austin market continues to stabilize and return to its typical seasonal pattern. The November numbers show a very robust seller’s market, with inventory below 1 month and median sales prices roughly 25% higher than this time last year. While closed sales were down about 4%, they are still significantly higher than 2019. We’re on track for another record-breaking year in Austin real estate!

Here are the November 2021 numbers for the City of Austin and the 5-County Metro:

Of course, this is either good news or bad news, depending on which side of the market you’re on. All signs point to another incredibly competitive spring and summer for buyers in the Austin area. Sellers--especially those in the “more affordable” price ranges--will likely see a more muted return of the 2021 frenzy, when lines down driveways and 20+ offer situations were the norm. Last weekend, I saw a 60+ offer situation on a home in Hutto that could be a glimpse of what the market still has in store for us.

It will be interesting to see how rising inflation and interest rates affects the market in the spring. Those are factors we didn’t face in the earlier months of 2021