April 2022 Housing Market Update for Austin, TX MSA

[Bryan Noth]

April 2022 Housing Market Update for Austin, TX MSA

April 2022 statistics have been released for the Central Texas Housing market. There was an increase in median sales price from the preceding month and a 19% increase from the preceding year for the entire Austin Metropolitan Statistical Area.

The City of Austin saw a change in median home price from $624,000 to $640,000, a month to month increase of $16,000 and a 16% increase from the previous year. The Austin-Round Rock MSA saw a change in median home price from $521,100 to $550,000 for a month to month increase of $28,900 and a 19% increase from the previous year.

The following infographics and data is courtesy of the Austin Board of Realtors:

Housing inventory remains at low levels, 0.8 months for the entire MSA which is 0.3 months increase over the preceding year. The City of Austin also remained at low levels, 0.7 months, a slight increase from the preceding year which was 0.6 months. That equates to just over 3 weeks of housing inventory for the area.

Closed sales for the MSA are down 6% from the preceding year as well as slightly down from the preceding month. Interesting to note that the City of Austin saw days on market decrease to 14 days, down 5 days from just a year ago.

I mentioned in the housing market report for March of 2022 that there were emerging data points indicating some shifting in market sentiment. Albeit slight, those data trends continued this past month. Closed sales are down for the MSA, new listings are down, and pending sales are down all while active listings are up. This explains the increase in inventory. It is worth noting that sales price continues to climb but with more options available to buyers and the daunting weight of increasing interest rates, buyers have the ability to be more discerning with home purchases in the MSA.  

Disclaimer: The information provided here is for educational purposes only, past performance is never a guarantee of future performance.