Austin-Round Rock Metro Area Real Estate Market Report – July 2023
- Months of Inventory (MOI): The Months of Inventory remained stable, 3.7 MOI in June 2023 to 3.7 MOI in July 2023. This indicates a consistent and balanced inventory level.
- Year-Over-Year (YOY) Units Sold: YOY units sold experienced a relatively small decline of -6%, marking the smallest drop seen since the market slowdown began. This suggests a potential stabilization in market conditions.
- Month Over Month (MOM) Sold Prices: Average and median sold prices declined moderately on a month-over-month basis. This trend could be attributed to normal seasonal patterns and further indicates a stabilization of the market.
- YOY Pending Units: Pending units increased significantly for the second consecutive month, showing a +15.19% rise in the Metro and +14% in Austin. This rise in pending units reflects heightened buyer interest and potential future closed sales.
- Average Days on Market (DOM): The average days on market came in at 61.
If you are thinking about buying or selling, it is important to work with a qualified realtor who can help you navigate the current market conditions. Schedule a consultation here.
The Texas Real Estate Research Center is a valuable resource for real estate professionals, investors, and anyone interested in learning more about the Texas real estate market.
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