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"Austin metro's home price is flat for the first time since 2019, report says"

Culturemap Austin writes, "The Austin housing market is normalizing, and for the first time since before the pandemic, metro home prices are not on the rise.

According to the Austin Board of Realtors' latest monthly report, November 2022 marked the first time since February 2019 that the median home price for the Austin-Round Rock metro area was flat. The metro's median registered at $467,955 last month, the same as November 2021, meaning 0 percent year-over-year growth.

At the same time, housing inventory nearly quadrupled from last year, to 3.1 months at the metro level, and the average time spent on the market grew to a whopping 58 days, leading to further market stabilization.

At the city level, Austin actually saw a drop in its median…

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"Report shows Southwest Austin home prices up, number of sales down for October"

The latest Austin Board of Realtors report shows prices in the Southwest Austin housing market continue to increase while the number of sales continues to decrease.

Although the Austin housing market continues to show signs of stabilization, with fewer sales and more available inventory in the markets, prices continue to be higher compared to last year, according to the October ABoR report.

“Austin’s housing market is still growing, just at a different pace,” ABoR President Cord Shiflet said in a press release. “We’re entering the time of year that is historically a quieter time for home sales. With more available inventory than our area has seen in a decade and price growth stabilizing, buyers have more options today than ever before. Now is the time for…

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"Austin housing market continues to stabilize, fueled by skyrocketing inventory and 'normal' price growth"

According to CultureMap Austin, "For the third month in a row, the Austin Board of Realtors reports that the local housing market is returning to normal. Following the unprecedented price growth experienced in early 2022, the market is shifting back to a normal pace, fueled by skyrocketing inventory and normalized home price appreciation.

The latest monthly report shows that in August 2022, the metro's median home price jumped 5.5 percent year over year, to $496,038. While a record high for the month of August, ABOR says the growth "[indicates] a normalization of home price appreciation that economists say is consistent with historical norms."

In the city of Austin, the median price grew 3.6 percent year over year to $555,000; Travis County's…

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The Austin Real Estate Market: Stats & Trends for 2023

The Austin real estate market is in the middle of a shift.  While the housing market in Austin is still a seller's market, the trend is changing. More would-be buyers are now renting, thanks to a cooling down market. Next year, the market will shift from a seller's to a buyer's market.

Austin's Housing Market Pushed More Would-be Buyers Into Renting During Covid-19 Pandemic

Before the COVID-19 pandemic, Austin's housing market was tight, with rents rising by about 5% annually. In Austin alone, there are nearly 125 people moving every day. In addition, builders haven't kept up with demand, and city zoning laws limit the building of new multifamily housing. As a result, home prices have reached new peaks. In May alone, the median sale price in Austin…

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What could $350M affordable housing bond mean for Austin's economy?

With the fate of a $350 million affordable housing bond now in the hands of Austin's voters, the referendum carries the potential to inject a substantial sum of money into the hands of developers and contractors — while also addressing a mounting housing crisis.

But the idea has its opponents.

The $350 million bond, the largest of its type proposed in city history, if approved would increase property taxes by more than $45 a year for a "typical" Austin home, valued at $448,000 with a taxable value of $358,400, assuming there's a homestead exemption.

Such a gain could cause pain during this time of drastically rising prices. Yet proponents argue that is why now is the time to invest in much-needed housing for essential workers.

…

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Austin market hits all-time high as home price surges to $624,000

Another record-breaking month is in the books for the red-hot Austin housing market.

The latest monthly report from Austin Board of Realtors reveals all-time highs for home prices at both the city and metro levels, with median home prices surging past the $500,000 and $600,000 marks, respectively, for the very first time.

In March 2022, the median home price in the city of Austin skyrocketed to a record-setting $624,000. That figure is up more than 22 percent from March 2021, when the city's median home price hit a then record of $515,000. In February 2022, the city's median home price sat at $565,000, signaling a jump of $99,000 in just one month.

Meanwhile, the median price for the Austin metro hit $521,100 in March 2022, also up more than…

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Travis County leads Texas in most expensive median home listing prices

An analysis from realtor.com released last week reported Travis County tops Texas as the county with the highest median home price. The report, based on February 2022 real estate figures, reported a median home value listing at $637,000 — up more than $200,000 compared to February 2018 figures.

The five-year real estate analysis weighed out the median listings for Texas’ 10 most populated counties: Harris, Dallas, Tarrant, Bexar, Travis, Collin, Denton, Hidalgo, El Paso and Fort Bend. Despite not leading as the most populated county, Travis County’s increasingly expensive real estate landscape is a continuous trend as conversations surface on affordability concerns.

While Travis County topped the list for median home listings, Collin County…

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Real estate experts: Prices not expected to fall any time soon

When Lakeway resident Katie Bigus and her husband started looking for a home near his job on Bee Caves Road, she said they were financially prepared and could be aggressive in their bidding process.

Still, Bigus said, they lost out on their first choice after bidding about $98,000 over asking price with no contingencies and a leaseback to the sellers in the contract.

This has become the status quo, said April Womack, a Realtor with Moreland Properties, who works out of its Lake Travis location.

“It’s a really strange market,” Womack said. “I compare it to gridlock on the highway. Everyone is trying to get somewhere, but traffic just won’t move.”She said while sellers love the equity rising home values have added to their homes, they would pay more to…

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