December 2022 Housing Market Update for Austin, TX MSA

[Bryan Noth]

December 2022 Housing Market Update for Austin, TX MSA

December 2022 statistics have been released for the Central Texas Housing market. There was a slight decrease in median sales price from the preceding month and a slight decrease from the preceding year for the entire Austin Metropolitan Statistical Area.

The City of Austin saw a change in month to month median sale price from $530,000 to $525,250 a month to month decrease of $4,750 and a 4% decrease from the previous year. The Austin-Round Rock MSA saw a change in median sale price from $467,955 to $457,426 a month to month decrease of $10,529 and a 3% decrease from the previous year.

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

Housing inventory for the MSA saw a decrease in month to month inventory from 3.1 months in November to 2.7 months for December, and a 2.1 months increase over the preceding year. The City of Austin saw a slight decrease month to month inventory from 2.6 months in November to 2.1 months for December, and a 1.6 months increase over the preceding year.

Inventory saw a sizable decrease for the month of December. Withdrawn and expired listings continue to remain high at 1,485 listings were withdrawn or expired for December. New listings were down 24% from the preceding month and 15% when compared to the previous year. Closed sales were down 20% from the preceding month and 36% when compared to the previous year. And active listings are up a staggering 275% from the previous year.

Lower volume of homes coming to market and high withdrawn and expired listings are keeping inventory from vaulting towards a buyer’s market. Many sellers are choosing not to sell right now and the vast majority have favorable mortgage rates that allow them to hold onto the property.

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