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Friday, October 20, 2023

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.