Real estate
BY BRITTANY ANDERSON
Home sales rise across Austin metro in October, despite high interest rates
What the experts say
The drop in year-over-year median sales prices “pales in comparison” to the housing equity gained over time, ABoR housing economist Claire Losey said. “The region would benefit from reforms and policies that make homes more attainable and buying more accessible for people across different income levels,” Losey said.
After a summer and early fall of higher interest rates, home sales in the Austin-Round Rock Metropolitan Statistical Area housing market still rose by 4.1% in October, according to the Austin Board of Realtors’ most recent metro data. According to ABoR officials in a news release, there were 2,337 total sales across the MSA in October, indicating that buyers are still “finding value in the market.” Active home listings and pending listings were also up across the metro, increasing by 5.2% and 12% respectively. Median home prices also dipped by 7.5% to $435,000. “Buyers continue to enter the market and are finding more bargaining power throughout the transaction,” said Ashley Jackson, 2023 ABoR president.
In Travis County, year over year:
Sales were down 7.7% with 957 homes sold.
The median home price was down 1.2% to $524,500 .
"While we have seen noteworthy progress from local leaders, there is still so much to be done." ASHLEY JACKSON, 2023 ABOR PRESIDENT
Active home listings were up 9.6% with 4,798 listings.
FOR SALE
Pending sales were down 0.3% with 909 pending.
SOURCE: AUSTIN BOARD OF REALTORS/COMMUNITY IMPACT
Powered by FlippingBook