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      ryan@teamprice.com
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    • Team Price Real Estate
      7320 N Mo-Pac
      Austin, TX 78731
      (512) 213-0213
      dan@teamprice.com

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      Central Texas Multiple Listing Service

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      © 2023 North Texas Real Estate Information Systems, Inc. All rights reserved. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Ryan Kelly shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The database information herein is provided from and copyrighted by the North Texas Real Estate Information Systems, Inc. NTREIS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. The advertisements herein are merely indications to bid and are not offers to sell which may be accepted. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright

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      Navigating Austin's Evolving Housing Landscape Volume 19, Number 14

      Published 04/05/2023 | Posted by Dan Price

      Navigating Austin's Evolving Housing Landscape : Volume 19, Number 14


      AUSTIN, TX —  The Austin housing market has experienced a remarkable transformation in the past year. As inventory levels continue to rise and pricing trends evolve, gaining insight into the forces shaping this ever-changing market is vital for both buyers and sellers.


      Increase in Inventory and Its Impact


      The total number of active listings in the Austin-Area MLS has jumped from 4,846 to 9,932 in just one year. This dramatic increase in inventory, a 3.23x rise, has affected the market in several ways. Months of inventory has grown from 1.43 to 4.61, indicating a more balanced market compared to last year's tight supply.


      Pricing Trends in the Market


      While the average list price for active homes in the Austin-Area MLS has risen by 7.43% year over year, the average and median sold prices have decreased. The average sold price this month is down 7.58% year over year, and the median sold price has dipped by 9.44%. In the City of Austin, the median sold price has dropped 5.0% year over year, from $660,000 to $627,000.


      City and Zip Code Analysis


      Out of 30 cities in Central Texas, 16 (53%) have seen a month-over-month price increase, while 14 (47%) experienced a decrease. Only 5 (17%) cities have had a year-over-year price increase, with 25 (83%) facing a decrease. Year to date, 10 cities have seen median price growth, while 20 have experienced a decline.


      Analyzing 75 zip codes in Central Texas, 41 (55%) have seen a month-over-month price increase, while 32 (43%) have experienced a decrease. Only 12 (16%) zip codes have had a year-over-year price increase, with 62 (83%) facing a decrease. Year to date, 38 zip codes have seen median price growth, while 36 have experienced a decline.


      Properties Selling at, Over, and Under List Price


      As of this month, 59.02% of all sold properties went for under the list price, compared to 66.40% last month. 20.49% sold at the list price, a slight increase from 19.06% last month. Interestingly, 20.49% of sold properties went for over the list price, a significant jump from 14.54% last month and 9.78% in January 2023.


      Conclusion


      The Austin housing market has experienced notable changes over the past year, with inventory levels rising and fluctuating pricing trends. As the market shifts, it's crucial for buyers and sellers to stay informed and adapt to these changes.

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