An ongoing theme in the Austin real estate market has been a lack of supply to meet the significant increase in demand. Overall listings in 2021 YTD are down -4% compared to 2020, and down -16% vs. 2019. May should be a month of significant new listing activity, but it didn’t work out that way… slightly behind May 2020, and over -22% below May 2019!
Below, you can see that the biggest shortfall is in the lower price points, where new listings in 2021 YTD are -20% lower than 2020, and -33% lower than the same period in 2019. May 2021 was -13% lower than May 2020 and -37% lower than May 2019!
While the sub-750K price points at least followed the general trend of increasing numbers of homes coming to market as we approach summer, May showed a significant drop from the prior month, down -26%, though still significantly higher than Mays of previous years.
If you’d like to learn more, or are curious what the market value of your home may be, please let me know and I would be happy to provide an assessment of your home and its potential market value.
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