Austin Real Estate Update May 2021

Is the Austin Real Estate Market slowing down??  Leading report indicators tell us it's starting to look that way!

While multiple offers are still common, homes are receiving fewer offers than we've seen over the past few months.  Additionally, we are seeing the number of new listings outpace the number of homes going under contract and surprisingly, mortgage applications are the lowest we've seen since February 2020.  Lastly, according to a recent survey of local real estate agents, nearly 62% feel that the market is normalizing or cooling down.  

What does that mean for you? 

Despite the "slow" down, what we are seeing is shift from an "Ultra Strong" Sellers Market to a "Strong" Sellers Market.  Home prices are still going up and buyer demand is still strong, but we are seeing a stabilizing of the market.  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 May 2021 >>> 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!

                                                                                                            Happy Summer!