April 2023 Housing Market Update for Austin, TX MSA

[Bryan Noth]

April 2023 Housing Market Update for Austin, TX MSA

April 2023 statistics have been released for the Central Texas Housing market. There was an increase in median sales price from the preceding month and a decrease from the preceding year for the entire Austin Metropolitan Statistical Area.

The City of Austin saw a modest increase in month to month median sale price from $529,495 to $565,000 a month to month increase of $35,505 and an 11% decrease from the previous year. The Austin-Round Rock MSA saw a change in median sale price from $450,000 to $466,705 a month to month increase of $16,705 and a 15% decrease from the previous year.

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

Housing inventory for the MSA saw continues to creep upwards with available inventory from 3.0 months in March to 3.2 months in April, and a 2.4 months increase over the preceding year. The City of Austin saw an increase as well in month to month inventory from 2.8 months in March to 3.2 months in April, and a 2.5 months increase over the preceding year.

There was a slight increase in the Withdrawn and Expired listings for the month of April with 1,077 in total.  Factoring in the 2,611 total closed sales for the same time period the percentage of withdrawn/expired to sold sales climbs back up slightly to 41%.  

The Days on Market has decreased notably from 80 to 71 days on average for the MSA and from 66 to 48 days for the City of Austin. The number of active listings changed marginally at 3% from the preceding month and continues to be much higher than the year prior which had a 206% increase in year over year active listings. However, the number of new listings was down from the preceding year and the preceding month which resulted in the month to month delta decrease of 161% for active lsitings.

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