Wow, what a difference a rain makes! We’re getting green at the ranch, but we need a lot more for the creeks and tank. Hopefully we can begin to receive some serious rain in Texas to break this drought and fill the aquifer.

If you prefer the quick version of this update, here it is. Read on for details from your market area.  

“We are seeing a slight increase in closed sales across the Austin-Round Rock MSA housing market and inventory increases as well. The Fed’s fight against inflation is killing mortgage rates, and prices are dropping in general. Some sellers want to tap out now before pricing drops more, while buyers try to decide whether to wait for better rates and risk another market of bidding wars, or buy now and refi later. We have seen several of these cycles in our long career, and know each potential client needs good individual advice right now. Talk to us to help make the right decision on timing this market”.     

In the Austin-Round Rock MSA, closed sales rose by 1.4% to 2,939 sales, the first increase in closed sales year over-year since February 2022, according to Austin Board of REALTORS^{® August 2023 Central Texas Housing Market Report. Through the Austin-Round Rock MSA, the region also experienced an 8.8% month-over-month increase in closed sales, a healthy indication of buyer confidence in the market. Housing inventory also continues to show gradual progress with a year-over-year increase of 1.0 month to 3.8 months of inventory.}

^

In August, sales dollar volume fell 6.0% to $1,713,589,878, while homes spent an average of 60 days on the market, up 28 days from August 2022 across the Austin-Round Rock MSA. The median price slightly dropped 7.6% to $460,000 while new listings ticked up 0.3% to 4,084 listings, active listings jumped 12.2% to 9,955 listings and pending listings rose slightly 2.0% to 2,686 listings.

City of Austin

858 – Residential homes sold, 1.3% less than August 2022.

$541,000 – Median price for residential homes, 0.7% less than August 2022.

1,191 – New home listings on the market, 1.9% more than August 2022.

2,879 – Active home listings on the market, 22.8% more than August 2022.

759 – Pending sales, 5.8% less than August 2022.

3.9 – Months of inventory, 1.5 months more than August 2022.

$594,479,723 – Total dollar volume of homes sold, 3.4% less than August 2022.

Travis County

1,355 – Residential homes sold, 1.6% less than August 2022.

$534,500 – Median price for residential homes, 4.8% less than August 2022.

1,921 – New home listings on the market, 2.4% more than August 2022.

4,772 – Active home listings on the market, 17.7% more than August 2022.

1,205 – Pending sales, 4.1% less than August 2022.

4.1 – Months of inventory, 1.4 months more than August 2022.

$941,065,528 – Total dollar volume of homes sold, 7.5% less than August 2022.

Williamson County

971 – Residential homes sold, 1.7% more than August 2022.

$435,516 – Median price for residential homes, 8.7% less than August 2022.

1,241 – New home listings on the market, 14.7% less than August 2022.

2,867 – Active home listings on the market, 7.9% less than August 2022.

906 – Pending sales, 5.7% more than August 2022.

3.2 – Months of inventory, 0.3 months more than August 2022.

$494,684,214 – Total dollar volume of homes sold, 4.6% less than August 2022.

Hays County

417 – Residential homes sold, 5.3% more than August 2022.

$394,990 – Median price for residential homes, 10.1% less than August 2022.

586 – New home listings on the market, 22.3% more than August 2022.

1,550 – Active home listings on the market, 33.9% more than August 2022.

384 – Pending sales, 8.2% more than August 2022.

4.2 – Months of inventory, 1.1 months more than August 2022.

$204,932,717 – Total dollar volume of homes sold, 6.0% less than August 2022.

Bastrop County

154 – Residential homes sold, 29.4% more than August 2022.

$339,990 – Median price for residential homes, 15.0% less than August 2022.

244 – New home listings on the market, 18.5% more than August 2022.

586 – Active home listings on the market, 28.0% more than August 2022.

146 – Pending sales, 19.7% more than August 2022.

4.8 – Months of inventory, 1.2 months more than August 2022 and the highest inventory in the MSA.

$58,611,157 – Total dollar volume of homes sold, 15.4% more than August 2022.

Caldwell County

42 – Residential homes sold, 17.7% less than August 2022.

$299,990 – Median price for residential homes, 6.9% less than August 2022.

92 – New home listings on the market, 61.4% more than August 2022.

180 – Active home listings on the market, 95.7% more than August 2022.

45 – Pending sales, 4.7% more than August 2022.

4.4 – Months of inventory, 2.2 months more than August 2022.

$13,170,575 – Total dollar volume of homes sold, 31.2% less than August 2022.

Burnet County

70 – Residential homes sold, 31.4% less than August 2022

$427,000 – Median price for residential homes, 12.8% more than August 2022.

135 – New home listings on the market, 13.5% more than August 2022.

481 – Active home listings on the market, 53.2% more than August 2022.

72 – Pending sales, 27.3% less than August 2022.

7.5 – Months of inventory, 106.6% more than August 2022.

Please do keep in mind that these reports are extremely broad in nature, each neighborhood, city and individual home can tell a completely different story. Let us know if you are considering buying or selling. The time could be now, or it may be best to wait out the storm.



Jon & C. J.

Our Business is delivering Exceptional Realty Service

far exceeding expectations,

grateful to give our best.