Скачать или смотреть The Market Minute - Greater Austin August 2023 Market Stats

Greetings from Austin! David Schneider of Rebel Property Group here with your August 2023 Market Minute.

Austin's real estate landscape is ever-evolving. We're seeing a mild dip in prices due to seasonal factors. Excitingly, after a year-long lull, Austin's total sales have risen. The months of inventory remain fairly stable both in greater Austin and the city itself. Total sales saw a 4.7% year-over-year increase. Average sold prices in the greater Austin region hit $584,000, reflecting a 7.5% drop, with the median price at $465,500.

The market isn't alarming. We're observing the normalization of prices after the dramatic surge between 2020 and mid-2022. Properties now average about 55 days on the market, up from 26 days. Indeed's job data indicates stabilization in the job market, especially tech, hinting at a resurgence.

Austin's real estate rhythm is consistent: peak prices in summer, slight dip towards the school year and holidays. Based on 2019's pattern pre-pandemic, 2023 may see a softening market as we approach year-end, with a revival expected by Spring 2024.

The tech sector is crucial. With tech giants potentially ramping up hiring, real estate demand could spike. For buyers, now might be an opportune time, with Spring 2024 potentially seeing a competitive market. Sellers, it's time to strategize. Whether selling now or waiting for spring, let's plan for the best returns.

David Schneider, your Austin real estate guide. Need insights or assistance? Contact me at 512-638-6585.