June 2022 Market Stats
The June 2022 Austin Board of Realtors Stats are here! The median sales price was up nearly 13% year over year to $537,475 in the month of June. Active listings increased to a record-breaking 217.8%, causing housing inventory to jump to 2.1 months of inventory, up 1.5% from last June.
George Ratiu, senior economist and manager of economic research at Realtor.com, weighed in on the recent increase in inventory.
“When we look at the data across the Austin housing market, it reinforces what we see on a national scale—a combination of cooling demand from the tremendous surge in mortgage rates and rising prices with a noticeable increase in supply. The shift signals welcome news for more buyers who may be ready to embrace a post-pandemic reality and take advantage of more inventory. This increase in supply combined with cooling demand indicates the beginning of a more sustainable housing 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 on the back and schedule a time to get some honest answers about your neighborhood market.
For the full market report, please click here