Inventory in Austin Increases as Mortgage Rates Increase to 8%

This graph goes all the way back to 2004, as far back as Austin Board of Realtors has the data.  As of September 2023, the active residential properties are at 13,027.  The average days on market of these active properties are 68.  In March 2021, we saw low inventory at 2,497 properties active with an average of 30 days on market.  The last time we had over 13,000 active listings was back in July 2016.  As the mortgage rates increase (currently at 8%), we will probably see more properties for sale.  Stay tuned for future blog posts.

 

September 2023 Austin Market Statistics

In Austin, TX, single family residential closed units in September 2023, were down 25% compared to last September.

In Lake Travis ISD, single family residential closed units in September 2023, were down 12% compared to last September.

As of today, 10/20/2023, there are 12,453 active single family properties in the market, 627 of these properties are in Lake Travis ISD.  As the interest rates increase (currently 8%), the number of homes for sale has increased.  

 

September Market Statistics

Reported by Austin Title:

Units Sold:

2,531 down 22.58% from Sept 2022

(This number is preliminary and may increase as sales are reported/updated in MLS)

Average Sales Price:

$571,970 down 1.95% from Sept 2022

Average Days on the Market:

41 days up 6.37 days from Sept 2022