AUSTIN (KXAN) — Median home prices within the Austin-Round Rock MSA have remained flat for the first time in nearly four years, according to a new report from the Austin Board of Realtors Thursday.
The November Central Texas Housing Market Report reflected a 0% year-over-year increase in median home values.
This marks the first time since spring 2020 there haven’t been any records broken for either home sales or median home prices in both the MSA and the city of Austin, the report added.
Home sales decreased nearly 37% last month, with 2,026 closed listings. For context, that marks the largest percent decline in home sales since May 2020, when COVID-19-related economic concerns corresponded to a 29.2% decline.
New listings decreased last month to slightly more than 2,400 listings across the MSA, while pending lists dropped more than 38% to 1,987 listings.
Available inventory increased by 2.3 months, up to 3.1 months’ worth of inventory. Homes spent, on average, 58 days on the market, an increase from 36 days in November 2021.
November 2022 data: City of Austin
Home sales declined by 49.4% in November, down to 529 sales. It marked the greatest percentage closing decrease since May 2020. New listings dropped nearly 22% in November down to 685 listings, while active listings skyrocketed nearly 183% in 2,300 listings.
Monthly housing inventory jumped from 1.9 months year over year to 2.6 months’ worth of inventory in November.
November 2022 data: Travis County
Travis County’s home sales decreased more than 45% down to 882 sales, per the release. The median price of a Travis County home creeped up 0.8% year over year last month, while new listings decreased 20.1% to 1,083 listings. Active listings surged nearly 205% to 3,943 listings year over year.
November 2022 data: Williamson County
November’s home sales declined nearly 39% in Williamson County, down to 730 sales. The release added the median home price dipped slightly, down 1.1% as new listings dropped 17.9% to 825 listings.
Active listings surged slightly more than 303%, to 2,972 listings. Housing inventory climbed from 2.4 months’ worth to 3.0 months.
November 2022 data: Hays County
Hays County’s November home sales declined 13.6% to 273 sales, while the median home price increased 5.2% to $414,500. New listings dropped 22.7% to 313 listings, while active listings soared by nearly 189% to 1,281 listings.
Housing inventory levels jumped up to 3.5 months this November, compared to last November’s 2.4 months’ worth of inventory.
November 2022 data: Bastrop County
Bastrop County home sales declined by 17.6% in November, down to 103 sales, with the median home price rising 5.1%. New listings increased 28.3% to 145 listings, while active listings surged 185.3% to 505 listings.
Housing supply levels increased to 4.0 months last November, up from 2.6 months’ worth in November 2021.
November 2022 data: Caldwell County
November’s Caldwell County home sales stayed steady at 38 sales, while the median home price increased 24.1% year over year to more than $330,000. New listings declined by 20% in November down to 40 listings, with active listings soaring 109.1% to 115 listings.
Housing inventory increased from 0.9 months last November to 2.7 months this November.