Market still correcting RP June Stats
The Austin Board of Realtors Reported statistics for June:
City of Austin:
FOR JUNE 2023
Home sales down 10.6% year over year to 939 sales.
Sales dollar volume decreased 11.3% to $709,176,366,
Median Price down 3.6% to $588,193
New listings fell 18.3% to 1,567 listings
Active listings on Market increased 49.2% to 2,872 active listings;
Pending sales up 11.9% to 923 sales
Housing inventory increased by 2.1 months inventory to 3.9 months of inventory
FOR JANUARY - JUNE 2023
Home Sales Down 22.4% year over year = 4,490 sales
Median Price down 10.7% to $545,000
Sales Dollar Volume down 27.1% to $3,180,556,219
New listings Down 2.7% to 7,571 listings
Total Active listings up 170.2% to 2,243 listings
Total pending sales down 14.8% to 4,918 pending sales.
Compare this to our local stats in River Place June 2023 (4 units sold)
Beds Baths SqFt List Price LP/SqFt Acres Close Price CP/SqFt CP/LP% CP/OLP% ADOM
Min 3 3 2,760 $715,000 $253.10 0.145 $687,000 $243.19 96.00% 81.00% 5
Max 5 4 3,082 $980,000 $343.50 0.324 $1,050,000 $340.69 111.00% 111.00% 64
Avg 4 3 2,880 $861,250 $298.68 0.272 $866,750 $299.82 100.25% 96.50% 29
Med 3 3 2,839 $875,000 $299.05 0.309 $865,000 $307.71 97.00% 97.00% 22
*Sorry this chart is not currently mobile friendly
SUMMARY
The number of new listings in June 2023 was 6; in June 2022 it was 7. Year over year from Jan to June it was 37 vs 42 in 2023 so the number of active listings is 13.5% higher.
DAYS ON MARKET IS ON AVERAGE 29 DAYS IN JUNE
The average close and median price in June of 2022 was $1,040,000 and there was only one sale that occurred. The price was (substantially higher than this year but there was only one sale.) It is more meaningful to use the total sales by this time
YEAR OVER YEAR
Home sales in River place for the first half = Jan-June 2023 = 29 units (up 21% from 24 units in 2022)
Average Price year over year down 22% [Jan-June 2023 $1,247,672 ( Jan-June 2022 $1,479,692]
Median Price year over year down 33.4% [Jan-June 2023 $965,000 (Jan-June 2022 Median Close price $1,450,000]
Year over year percent of list price is down by 11%. In Jan- June 2023 Homes sold 93.83% of original list price. In 2022 Homes sold for 105.17% of original list price.
Jan- June -the first half of 2023 Days on Market is up 42% on average at 57 days to contract compared to 11 days in 2022.
Market has slowed considerably, but some high end listings are selling in just over 30 days. Will your home sell quickly? IT DEPENDS!
DEPENDS ON WHAT
PRICE, LOCATION, CONDITION, AVAILABILITY OF SIMILAR PROPERTIES@TIME OF SALE, AND OF COURSE YOUR REALTOR!
Questions? Text Lisa Marie 512-784-5111
