The school year is upon us and as folks have shifted attention to one last vacation before it starts, the Austin real estate market has taken a small breather. It is hard to tell, of course, because with limited inventory it still feels very competitive and active. But July transactions were down compared to last year and came in pretty much flat with July 2019.
While the 2021 trend line for overall transactions follows 2019 pretty consistently, the mix has really shifted. Homes priced under 750K are far below where they were in the past.
At the same time, sales of higher priced homes have jumped significantly from prior years.
Price points over 1M have steadily grown, making a significant jump from 2019 to 2021, with homes priced over 1M rising from 7% of total transactions in 2019 to 18% in 2021 (year-to-date)!