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Austin home prices still setting records, but pace of price growth may be slowing

Location
Austin
Publish Date
2021/09/23

Though cooling a bit, the Central Texas housing market remains on a hot streak, as median home-sales prices hit August records. In August, 3,849 sales closed in the 5-county Austin region, ↓ 4.6% YoY, according to ABoR. The median price of those sales ↑ 34.7% YoY to $470K, however, prices are no longer ↑ MoM at a significant rate. Inside Austin's city limits, 1,244 homes changed hands, ↑ 0.2% YoY in sales volume, while the median price ↑ 27.1% YoY to $540K. The Central Texas market has been struggling for some time with a demand-supply imbalance that has been driving prices higher for years. While inventory is still low and homes are still selling as soon as they hit the market, August’s activity is close to a typical fall.

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