Published May 18, 2022
Austin, Texas Market Update | May 2022
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The most staggering number we see when looking at the stats for last month was home sale prices jumping another 20% from this time last year. Average days on the market dropped slightly to 13 days throughout the city; while this isn't a crazy number, it's essential to know since most people think homes are still selling within hours when they're spending an average of just under two weeks on the market. Of course, every neighborhood is different, but throughout the Austin Metro, these are the stats we see overall. If you're curious about your specific area, we're happy to dive down deeper for you.
Another thing to note is the volume of homes sold has dropped by a significant amount, and I see a few reasons for this. The increase in prices and steadily rising interest rates are working together to reduce the buyer pool as we progress through the year. And the inventory still isn't congruent with the number of buyers we have in the market.
If you're interested in learning more about what you should be doing in this market to prepare for selling your home now or in the future, we are hosting a seminar on selling, prepping, and staging early next month. You can see more details HERE.
