January 2022 Market Stats
The January 2022 Austin Board of Realtors Stats are out and inventory, or lack there of, continues to be the name of the game. The median sales price was up 30% year over year to $476,000 in January while closed sales decreased by 5% to just about 2,300. The biggest drop were in new listings which decreased 10% to 2,950. Active listings are also slightly down. 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.
Coming off two consecutive record years for the MSA’s housing market, ABoR President Cord Shiflet added that morale among REALTORS® continues to trend upwards, with many feeling enthusiastic about the future.
“REALTORS® are optimistic about what this year could bring and looking forward to what will hopefully be a year filled with opportunity for homebuyers, sellers and developers alike. Working with a REALTOR® that understands the complexities of the market is the best decision those interested in getting into the market can make.”
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.