July 2022 ABoR Stats are out!
The July 2022 Austin Board of Realtors Stats are here! The median sales price went up 8% year over year $515,000 in the month of July. Active listings increased to a whopping 167%, causing housing inventory to jump to 2.7 months of inventory - the highest level of inventory since November 2018.
“In every aspect of our market REALTORS® are seeing positive signs that Austin’s housing market continues to normalize,” Cord Shiflet, 2022 ABoR president, said. “On top of rising housing inventory, home price growth is much closer to the 4-5% annual growth that is typical for a healthy market. In addition, homes sold slightly below list price for the first time since December 2020, proving that buyers are gaining negotiating power in the market.”
If you are looking to buy, NOW is the time!
As always, if you are thinking of selling or just wondering what your home might be worth, reach out to the team member and schedule a time to get some honest answers about your neighborhood market.
For the full market report, please click here