Austin Market Update – July 2021

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Austin Market Update – July 2021

You might have heard comments recently that the Austin market slowed a little.  It is hard to say since inventory is so low that many properties are still getting multiple offers, but perhaps instead of 10 offers it is “only” 3.  Still a very hot market, but feels a little different than it did a couple of months ago.

June did end up being basically flat with last year in terms of transactions, though listings in June were up vs. both 2020 as well as 2019.  That is the first time this year that the monthly new listings exceeded the same month in 2019.

A few highlights:

For the first time in 2021, the new listings for the month (June) exceeded the new listings for the same month in 2019.

New listings year to date (through June 30) now exceed 2020 (+0.9%) but lag 2019 (-11.9%) and 2018 (-15.3%)

New listings in the luxury price points (750K+) are up on average over 70% vs. 2020, 2019 and 2018, reflecting the dramatic appreciation in values in Austin.

And while new listings in the sub-750K price range are far behind prior years, they have gradually crept up month by month in 2021.

In terms of transactions, April and May saw small increases in the sub-750K price range, but those months saw massive increases in sales of 750K+ homes in Austin.

Overall transactions year to date (through the July 4th weekend) are up over 8% vs. the same time in 2020, and down roughly -6.6% vs. that time period in 2019, and 2021 is generally following the same trend as 2019, though we did not see the big spikes in closings in a couple of weeks that occurred that year.

If you are thinking about selling, or need help navigating the process of selling or buying a home in Central Texas, please don’t hesitate to contact me and I can help!

 

Note:  All data comes from the Austin Board of Realtors’ MLS report, reflecting activity through July 3, 2021.

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