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.