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    • Ryan Kelly(325) 518-1294
      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

      Central Texas MLS | Four Rivers Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Ryan Kelly may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2022 All rights reserved.

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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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      The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Based on information from the Austin Board of REALTORS®. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided "AS IS" and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

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      Austin Real Estate Market Update - September 28, 2023

      Latest Trends and Insights

      Volume 19; Number 39

      Austin Real Estate Market Update: A Deep Dive into 2023's Market Trends

      Welcome back to our weekly journey through Austin's ever-evolving real estate landscape. As we delve further into 2023, it's crucial to analyze the latest market trends in a clear and professional manner. Let's examine the recent developments in Austin's real estate and see how this week's numbers compare to the previous.


      Inventory and Supply : Let's begin with the number of available homes. Contrasting with the previous year, we've witnessed a reduction from 12,942 active listings to 12,599 in the Austin-Area MLS. Now, factoring in the rate at which homes are being sold (sold properties), we calculate the "Months of Inventory." Currently, it stands at 4.47 months, up from 3.96 months last year, marking a 1.1 times increase. Within the City of Austin, this increase in housing options mirrors the overall trend at 1.1 times.

      ​

      Price Changes : Turning our attention to the financial aspects, the average list price for homes in the Austin-Area MLS is $677,133, reflecting a noteworthy 0.98% year-over-year increase. This month, the average sold price stands at $584,054, a mere 0.60% deviation from the previous year. However, the median sold price has experienced a slight decline, down 3.24% to $445,000 year over year. Within the City of Austin itself, the median sold price remains remarkably steady, showcasing a marginal 0.0% year-over-year change.

      ​

      City and Regional Trends : Expanding our scope to encompass the 30 cities in Central Texas, we observe that 47% of them have reported price increases this month, while 53% have witnessed decreases. On a year-over-year basis, 20% of these cities have experienced price hikes, with a significant 80% seeing decreases. Year to date, 17 cities have enjoyed higher median prices, while 13 have witnessed declines. Interestingly, none of these cities have surpassed their previous 12-month price peak, with 30 cities experiencing decreases. 

      ​

      Zip Code Analysis : Zooming in further, let's examine zip codes. Among the 75 zip codes in Central Texas, 45% have reported price increases this month, while 52% have seen reductions. Year over year, 28% of these zip codes have seen prices rise, while 69% have witnessed declines. Year to date, 41 zip codes have witnessed median price increases, while 34 have faced declines. Notably, none of these zip codes have reached prices higher than their previous 12-month peak, with 71 zip codes experiencing declines. 

      ​

      Sales vs. List Prices : Lastly, when it comes to the actual prices homes are fetching compared to their listings, approximately 64.55% of all sold properties have sold for less than the list price this month. This is in line with last month's figure of 64.54%. Approximately 22.16% have sold for the exact list price, and 13.29% have sold for more than the list price. Compared to January 2023 when 9.71% of properties sold for more than the list price, we are seeing a more stabilized market.

      ​

      Conclusion : The Austin real estate landscape is a dynamic one, offering opportunities and challenges for buyers, sellers, and investors. To make informed decisions, staying updated on these trends is essential. Our comprehensive report provides over 500 pages of in-depth information about the Austin real estate market, including insights on Market Cycle, Affordability, Interest Rates, and more.

      Stay tuned for next week's update as we continue navigating the ever-changing waters of Austin's real estate market in a professional and clear-cut manner.

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