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Inventory is still low, but we are seeing a slight increase...
As of mid April, we have 2,318 homes for sale with an average list price of $1,026,804 (median price $639k). 591 of the 2800 homes are listed over $1 Million and 6 are listed over $10 Million. Last year at this time we had 1,857 homes for sale. With continued buyer demand, the 24% increase in homes for sale is much needed.
How do these number compare historically? Well... we are used to averaging about 6,500 homes for sale this time of year:
End of March
2021 = 1,190
2020 = 5,585
2019 = 6,690
2018 = 6,383
What does that mean for you?
With over 3,000 homes selling per month, it is still an ultra strong sellers market. We need and estimated 15,000 homes to come on the market at once to bring us back to a "balanced market" of 6 months inventory compared to the 1/2 months worth of inventory we currently have.... in other words... it is still a great time to buy and a great time to be a seller!
Here's a quick look at the monthly activity trends:
And, of course, everyone's favorite - Check out the March 2022 >>> MEDIAN SALES PRICE APPRECIATION BY ZIP CODE
If you are curious about what is happening in your neighborhood or have been thinking about buying or selling real estate in the Austin area, call me! I'd love the opportunity to help you!
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