A recent housing market report by the Austin Board of Realtors shows the real estate market in Central Texas has “calmed” compared to earlier in the year.
Cord Shiflet, incoming president of the ABoR says compared to August 2020, home sales have decreased 4.6 percent.
“While we were seeing 30-40 offers on homes we’re now seeing 5 maybe 10 offers on homes,” says Shiflet.
Despite a slower market, prices are at an all-time high.
According to the Central Texas Housing Market Reporter, the median sales price for residential homes is $470,000, almost 35 percent more than the month of August last year.
According to the brokerage Redfin, the percentage of offers that faced bidding wars in Austin Texas down to 52.5% in August 2021 compared to 62.2% in August 2020.
Prices didn’t change from May to June in the Austin-Round Rock TX Metropolitan Statistical Area, according to the latest data from the S&P CoreLogic Case-Shiller Index, one of the leading trackers of the housing market. However, prices were up 34 percent in June 2021 over June 2020.
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Home sales decreased 5.1% compared to September 2020 as the median sales price of $450,000 set a record for the month of September across the area.
