AUSTIN (KXAN) — April home sales in the Austin area decreased for the second month in a row, according to a new report from the Austin Board of Realtors.
The April 2022 showed across a five-county area, home sales declined 6.2% year over year to 3,280 closed sales as the median price rose 19.6% to a new record of $550,000.
Active listings jumped 52.5% year over year to 2,763, causing housing inventory to increase by 0.3 months for a total of 0.8 months of inventory, marking the biggest gain in housing inventory year over year since the summer of 2017.
“We are far from a healthy number of homes for sale in our market, so any increase in housing stock, no matter how small, is a welcome sign for people looking to buy. Our area continues to really be influenced by companies targeting the Austin area for job creation and expansion, and that relocating workforce needs a place to live,” said Cord Shiflet, 2022 ABoR president, in a press release.
Homes spent an average of 18 days on the market, which is the same as April 2021, according to the board.
The five counties measured for this data are Travis, Williamson, Hays, Bastrop and Caldwell counties. Here’s a breakdown of the April 2022 median home prices for each jurisdiction:
- City of Austin: $640,000
- Travis County: $625,000
- Williamson County: $510,000
- Hays County: $477,000
- Bastrop County: $402,000
- Caldwell County: $365,000