Please keep in mind this is for the entire *metropolitan statistical area. If you want zip code specific stats, I am happy to get them to you!
Hey Austin area buyers and sellers! Ashley Billins, your trusted REALTOR® here with an exciting market update for September 2023! Let’s dive into the latest trends and numbers that will help you make informed decisions.
Did you know that currently, there’s a 4.0 Months Supply of Inventory in the Austin metropolitan area? That means we are approaching a more healthy balance between supply and demand. Similarly, over the last 12 months, the Months Supply of Inventory has seen a significant increase.
Looking to sell or buy a home? Sellers, you’ll be glad to know that the List to Sold Price percentage is still at a strong 93.3% in our area. This indicates that sellers are getting near full asking price for their properties but that buyers still have some negotiating power. This may indicate a move towards a more balanced market.
On average, homes in the metropolitan area are spending about 65 days on the market before going under contract and just 36 days from contract to sold. This indicates there is still demand for homes and a relatively quick turnaround time, giving you the opportunity to make a move faster.
The median sold price for homes the metropolitan area currently stands at $452,080 (if you would like specific stats for your city, please reach out). While this is a slight decrease from this time last year, it is still a great indicator of the market’s stability and potential for a solid return on investment.
Whether you’re looking to buy or sell, understanding these market trends is crucial for your success. Reach out to me, Ashley Billins, your local REALTOR®, to discuss how these numbers can impact your real estate goals. Let’s navigate the Austin market together and find the perfect opportunity for you!
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