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Latest Austin Housing Report
Are we in a bubble?
The question everyone is asking. But first, what is a housing bubble?
"A housing bubble, or real estate bubble, is a run-up in housing prices fueled by demand, speculation, and exuberant spending to the point of collapse. Housing bubbles usually start with an increase in demand, in the face of limited supply, which takes a relatively extended period to replenish and increase. Speculators pour money into the market, further driving up demand. At some point, demand decreases or stagnates at the same time supply increases, resulting in a sharp drop in prices—and the bubble bursts."
According to the latest Central Texas Housing report, "That type of speculation is not what is driving housing demand or price increases in the Austin-Round Rock MSA." says Cord Shiflet, Austin Board of Directors President.
In a market like Austin that is constantly changing, is why you HAVE to have a REALTOR® in your corner advocating, negotiating, and counseling you throughout the entire process.
Active Listings skyrocketed 146.2%
“The Austin housing market has experienced a multitude of factors that have influenced its current state, one of those being the high influx of companies and individuals migrating to the area both from within Texas and out-of-state, which has contributed to a strong and diverse economy attractive to people seeking opportunity. These migrations of individuals and companies will continue to happen, especially as Austin is relatively affordable compared to some out-of-state markets when it comes to owning a home and operating a business. Given this growth and continued increases in prices, the sales decline appears to be more likely a supply issue than a demand one and does not indicate a bubble bursting.” - Dr. Adam Perdue, Research Economist at Texas A&M University
$683,195
Average Sales Price
1.2
Months of Supply
15
Average Days on Market
$331
Average Price per Square Foot
Homes Sold
105%
Sale-to-List Price
5,231
New Listings
3,643
Under Contract
4,173
Active Listings
3,633
Closed Sales
Home Sales declined 6.7%
Despite a calming trend, the Austin housing market is still on track for a record-breaking year as per the latest market data released by the Austin Board of REALTORS®.
Given this growth and continued increases in prices, the sales decline appears to be more likely a supply issue than a demand one and does not indicate a bubble bursting.
Surrounding Counties Median Home Price
400,900
Bastrop
345,000
Caldwell
470,000
Hays
509,000
Williamson
