The Austin real estate market is still hot, hot, hot. You can see that 2022 is following the trends of 2019 and 2021 (excluding the freeze in February 2021), though the numbers are lower, primarily driven by limited inventory. Year-to-date transactions are lagging 2021 at this point, down roughly -4.5%.
Lower priced homes are lagging the most, with homes priced under 750K significantly lower than 2021 (-14.8%), which was itself also down even more vs. 2020 (-15.8%).
Homes priced over 750K continue to outperform, up almost 19% vs 2021. But the pace of growth has slowed… consider that at this point in 2021, transactions for homes priced 750K+ were up over 125% vs. the same time in 2020!
Transactions are fairly indicative of available inventory, so a similar story applies to the new listings coming available each month in the Austin market…
New listings overall are down roughly -5.6%, but for homes priced under 750K they are down almost -19%, while homes priced above 750K are up almost 18%.
Under 750K…
Over 750K…
Overall…
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