A recent housing market report by the Austin Board of Realtors shows the real estate market in Central Texas has “calmed” compared to earlier in the year.

Cord Shiflet, incoming president of the ABoR says compared to August 2020, home sales have decreased 4.6 percent.

“While we were seeing 30-40 offers on homes we’re now seeing 5 maybe 10 offers on homes,” says Shiflet.

Rob Gordon, Sales Manager at JB Goodwin Realtors tells us the slight slowdown could be attributed to the typical seasonality of the market, as well as buyer exhaustion from a busy spring.

“There’s a lot of buyers who put in many offers on homes and they never won a home and so they eventually left the market,” says Gordon.

Despite a slower market, prices are at an all-time high.

According to the Central Texas Housing Market Reporter, the median sales price for residential homes is $470,000, almost 35 percent more than the month of August last year.

“This is just a new normal, I don’t see the prices coming down. Austin is still an excellent real estate market,” says Gordon.

Both Gordon and Shiflet say although it’s hard to predict the future—they don’t see any major slowdowns anytime soon.

They’re encouraging buyers to buy and sellers to sell.

Source: CBS Austin

Posted by Grossman & Jones Group on


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