The Austin-Round Rock metro area real estate market in May 2023 showed the following key data points:
- Median Price: The median price remained stable at $467,500.
- Closed Sales: There were 3,411 closed sales, indicating a significant increase in transactions.
- Active Listings: The number of active listings decreased slightly to 8,960.
- Months Inventory: The months inventory increased to 3.4 months.
- Days on Market: The average number of days on the market decreased to 65.
- Days to Close: The average number of days to close a sale remained steady at 38.
- Median Price/Sq Ft: The median price per square foot increased to $235.87.
- Median Home Size and Year Built: The median home size increased to 2,017 square feet, with a median year built of 2014.
- Close/Original List Price: The close/original list price ratio improved to 94.1%.
Overall, the Austin-Round Rock metro area real estate market in May 2023 remained stable, with a steady median price and increased closed sales. The decrease in active listings and slight increase in months inventory suggest a balanced market. The decrease in days on the market indicates strong buyer demand, and the steady days to close highlight an efficient transaction process. The increase in median price per square foot suggests a willingness among buyers to pay more for properties. The market also experienced a shift towards newer and larger homes. The close/original list price ratio improvement indicates favorable conditions for sellers.
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.
Learn More
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.
https://www.recenter.tamu.edu/
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