CJ and I are really enjoying this Texas Fall weather! Can you believe just a short time ago most of us were intent on moving to Colorado. We really enjoy getting out on the bike, especially me, but 106 degrees is brutal with al of our protective gear on. Get out and play hard.

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

Sales history provides insight into a market opportunity. Last month, the Austin-Round Rock MSA housing market inventory hit its highest level in over eight years, closed sales were down 18.2% and prices dropped 4.3% year over year. This is due to affordability constraints for buyers created by high mortgage rates.

Lower pricing and more inventory creates opportunity for Buyers not dependent on low rates, and sellers that are purchasing another home. 

Although sales volume is down, we have successfully sold our inventory and found good deals for our buyers this year.

“The Fed’s fight against inflation is raising 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”.    

City of Austin

• 682 – Residential homes sold, 13.3% less than September 2022.
• $536,028 – Median price for residential homes, 2.5% less than September 2022.
• 1,116 – New home listings on the market, 11.2% less than September 2022.
• 2,968 – Active home listings on the market, 14.2% more than September 2022.
• 628 – Pending sales, 2.6% more than September 2022.
• 4.1 – Months of inventory, 1.4 months more than September 2022.
• $463,473,176 – Total dollar volume of homes sold, 15.4% less than September 2022.

Travis County

• 1,085 – Residential homes sold, 12.7% less than September 2022.
• $525,000 – Median price for residential homes, 4.2% less than September 2022.
• 1,737 – New home listings on the market, 12.9% less than September 2022.
• 4,875 – Active home listings on the market, 9.4% more than September 2022.
• 994 – Pending sales, 0.5% more than September 2022.
• 4.2 – Months of inventory, 1.2 months more than September 2022.
• $768,624,857 – Total dollar volume of homes sold, 12.0% less than September 2022.

Williamson County

• 791 – Residential homes sold, 20.4% less than September 2022.
• $426,752 – Median price for residential homes, 6.1% less than September 2022.
• 1,070 – New home listings on the market, 10.5% less than September 2022.
• 2,873 – Active home listings on the market, 10.6% less than September 2022.
• 807 – Pending sales, 9.7% more than September 2022.
• 3.3 – Months of inventory, 0.2 months more than September 2022.
• $388,535,209 – Total dollar volume of homes sold, 23.4% less than September 2022.

Hays County

• 341– Residential homes sold, 30.3% less than September 2022.
• $400,000 – Median price for residential homes, 4.3% less than September 2022.
• 557 – New home listings on the market, 19.0% more than September 2022.
• 1,685 – Active home listings on the market, 37.9% more than September 2022.
• 356 – Pending sales, 24.5% more than September 2022.
• 4.7 – Months of inventory, 1.5 months more than September 2022.
• $169,681,296 – Total dollar volume of homes sold, 38.1% less than September 2022.

Bastrop County

• 133 – Residential homes sold, 11.9% less than September 2022.
• $340,000 – Median price for residential homes, 10.7% less than September 2022.
• 199 – New home listings on the market, 6.1% less than September 2022.
• 610 – Active home listings on the market, 23.5% more than September 2022.
• 112 – Pending sales, 5.9% less than September 2022.
• 5.0 – Months of inventory, 1.2 months more than September 2022 and the highest inventory in the MSA.
• $50,253,715 – Total dollar volume of homes sold, 22.9% less than September 2022.

     Caldwell County

• 37– Residential homes sold, 9.8% less than September 2022.
• $289,330 – Median price for residential homes, 13.9% less than September 2022.
• 81 – New home listings on the market, 68.8% more than September 2022.
• 192 – Active home listings on the market, 77.8% more than September 2022.
• 51 – Pending sales, 112.5% more than September 2022.
• 4.7 – Months of inventory, 2.1 months more than September 2022.
• $11,872,930 – Total dollar volume of homes sold, 11.0% less than September 2022.

Burnet County

•   66 - Closed sales, -24.1% YOY

•   $383,303 – Median price for residential homes, 6.2% YOY

•   467 – Active home listings on the market, 35.4% more than September 2022

•   7.5 – Months of inventory, 3.4 months more than September 2022

•   65 – Days on market, 28 days more than September 2022

•   38 – Days to close, 45 days less than September 2022

•   $300,000-$399,000 Price distribution (29%) of total sales

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.

If anyone you know might need help with buying or selling or just want to get monthly information for real estate, our link to our newsletter is below. Send it to friends and family. We won't bother anyone but we will give them monthly updates on the market for their own knowledge.

Pfau & Company News Letter Sign Up

https://lp.constantcontactpages.com/su/msvRu2w

Our Business is delivering Exceptional Realty Service -

far exceeding expectations,

grateful to give our best.

Jon: 512-635-0232

C.J.: 512-415-0583

Email: Pfaucorealtors@aol.com