Using MLS data, looking at single-family-residential (SFR) homes in the City of Austin, in November the median sale price declined year on year (November ’22 vs. November ’21). That is the first time that has happened in a very long time!
A short update on market inventory in Austin overall, as well as Central Austin, broken out by price range to show inventory levels in different price ranges.
The market slowdown continues across Austin and while pricing appears to remain strong in the luxury space, it is coming down after peaking in Q1 this year. Looking at quarterly data, you can see that in Tarrytown both median sold price and median sold price / sq ft peaked in Q1 and have retreated some […]
As the market slows in the second half of 2022 Highland Park West Balcones Area (HPWBA) is also seeing a slowdown in activity. Pricing is still showing significant gains over 2021, and YTD numbers indicate much higher list, sold and $ / sq ft prices, though they probably peaked in the first half of the […]
The steady slowdown continues, with monthly transactions again declining and well below prior years, with October down -40% vs. October ’21. Looking at market activity on the listing front, you can see the huge spike in new listings that occurred back in June. At the same time the market was slowing, and could not absorb […]
Last month I observed that the number of new pending sales the week prior to Labor Day was the highest since May. That would suggest that closed sales 3-4 weeks later should see a spike as well, which happened (the week of 9/25 was up over 30% vs. the other weeks of September). But September […]
This article is an updated version of what was submitted for the September edition of the HPWBA neighborhood newsletter published by Peel. With summer now over and heading into fall, I wanted to provide some context for how the market is performing so far this year. There is no question that things slowed in the […]
What impact do the Fed’s interest rate hikes have on market activity? It is more difficult to determine using sold data since there is generally a 30-day lag from the time a contract is executed to actual closing. But pending data provides a useful metric for market activity at a specific point in time. The […]
My lead graphic in my newsletter highlights the summer-time trend of a significant increase in the number of homes coming to market, along with a big decline in pending transactions and sales. In fact, the number of new listings in June this year is higher than any month in the last 10 years. New listings […]
Everyone is wondering what the market is doing and where things are headed. I did some work to summarize that and boil it down to one graph. Below you will see new listings, new pendings, and transactions by month going back to January 2019 (the last “normal” year). Pendings are a leading indicator of transactions, […]