February 2022 Market Stats
The February 2022 Austin Board of Realtors Stats are out and inventory remains very scarce. The median sales price was up 27% year over year to $499,000 in February. New listings actually increased 10% to just over 2,800. Pending listings are also up. The biggest drop was active listings which decreased 4% to 1,200. Homes spent an average of 28 days on the market which is down compared to this time last year indicating that as new homes are listed, they are quickly going under contract.
“February was a very active month for our housing market as sales price records continue to be broken,” Cord Shiflet, 2022 ABoR president, said. “We’re hearing from economists that last month’s numbers are a potential harbinger of a big year ahead even as our market continues to deal with insufficient supply compared to demand resulting in the steady cycle of home price increases.”
As always, if you are thinking of selling or just wondering what your home might be worth, reach out to the team member on the back and schedule a time to get some honest answers about your neighborhood market.
For more the full market report, please click here.