Round Rock, Pflugerville and Hutto had a combined total of 349 closed home sales in October, according to data from the Austin Board of Realtors. (Carson Ganong/Community Impact)

Community Impact writes, "the latest data from the Austin Board of Realtors shows a continuing trend of stabilizing home prices and supply in Round Rock, Pflugerville and Hutto.

According to the ABoR's monthly report for October, the median price of a home sold across the three cities in October was $457,876. While a slight increase over September's median price of $450,000, that price is still lower than the prior two months—$475,000 in August and $476,458 in July.

Additionally, $457,876 is a 5.4% year-over-year increase from October 2021's median price of $434,495.

By comparison, the broader Central Texas market saw a median sale price of $421,149 in October, while the city of Austin saw a $555,000 median sale price.

ABoR President Cord Shiflet said one factor contributing to the cooling prices is likely that late fall and winter months tend to be slower periods for the housing market.

Round Rock, Pflugerville and Hutto saw a total sale volume of $174.8 million across 349 closed sales in October, down from $226.8 million across 459 sales in September.

On the housing supply side, the three cities have a combined 1,323 active listings in October—more than double the 479 active listings they had last October.

Jim Gaines, an economist at the Texas Real Estate Research Center, said the lower prices and higher supply are a sign of a housing market in the process of returning to normal.

“The 2021 housing market numbers we saw were an anomaly compared to previous years, so anything different from those numbers can appear significant," Gaines said. "Homes that are coming on the market are not staying active for long, but they are also not flying off the shelves or going into a bidding war like they used to.""

Source: Community Impact

Written by: Carson Ganong

Published: November 16, 2022

Posted by Grossman & Jones Group on


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