REAL ESTATE NEWS REPORT
Local home inventory grows as median sales prices continue rising A new monthly report from the Austin Board of Realtors shows home sales and median prices in Round Rock, P ugerville and Hutto are up in May from a decline the previous month. BY CARSON GANONG COMPARING COST In Round Rock, P ugerville and Hutto, median sales prices for homes in May were similar to costs for all of Central Texas. The median price in Austin was higher than in the other four markets.
The report lists a median home price of $521,250 across the three cities in May. The price marks a 3.83% increase over April’s median price of $502,000 and a 15.83% increase over May 2021’s median price of $450,000. Of the three cities, Round Rock’s individual median price was highest in May at $544,955, followed by P ugerville at $497,790 and Hutto at $433,000. By comparison, the median price in the entire Austin-Round Rock metropolitan market was $487,000 in May, while the median price in the city of Austin was $667,000. The report also indicates a growing inventory of homes in the area, with Round Rock, P uger- ville and Hutto having a combined 498 active listings in May. The gure marks an increase both month over month and year over year with the cities having 346 active listings in April and 242 in May 2021. Adam Perdue, a research economist at the Real Estate Center at Texas A&M University, said in the
$800K
$667,000
$700K
$600K
$544,955
$497,790
$487,000
$500K
$433,000
$400K 0 //
Round Rock
P ugerville
Hutto
Greater Austin Metro
Austin
SOURCE: AUSTIN BOARD OF REALTORS COMMUNITY IMPACT NEWSPAPER
Perdue said. “While year-over-year price increases will continue to remain high, we project them to fall slightly lower than the long-term trend we’ve monitored over the past two years.”
report that a growing supply of homes is a good sign for the market. “This slight increase in inventory and active list- ings point to the market beginning to normalize,”
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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM
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