This April, home prices in the City of Austin continued on their trajectory to the sky with a 16% jump from 2021 to a whopping $640,000 – an all-time record.
According to the latest market update from Austin Board of Realtors, the Austin-Round Rock Metro jumped nearly 20% to $550,000, also a record, while Travis County’s median home price rose 16% to $620,000. Active listings grew by 52.5%, bringing months of inventory to 0.8 from last year’s 0.3 – the largest gain in inventory since summer 2017.
“Whether looking to buy or rent, the home search process in Central Texas is a much longer and more complex process than it used to be,” Cord Shiflet, 2022 ABoR president, said. “One of the biggest mistakes realtors see prospective homebuyers make is not having a game plan before beginning the search process. Are you pre-approved with a lender? Do you have a clear understanding of the home features you need, and where you’re willing to make trade-offs? A realtor has the connections, contract knowledge, and market intelligence to best position you for success.” We couldn’t have said it better ourselves.
Shiflet added that “the ups and downs we are seeing in our market are normal, and somewhat expected considering the fast pace at which our market has moved over the past two years,” which makes now, while inventory is up, the perfect time to secure your spot.
Whether you’re looking to buy, sell or invest, we’re here to guide you through what can otherwise be an overwhelming and intimidating process until we help you find your slice of the pie.