The median home price across the Austin Round-Rock MSA dropped 8.4% to $424,450 last month, indicating Austin’s housing supply is becoming available at lower price points, but remains considerably elevated relative to pre-pandemic levels according to the Austin Board of REALTORS® November 2023 Central Texas Housing Market Report. While mortgage rates remain elevated, the Central Texas housing market experienced a slight increase in residential homes sold across the MSA, rising 0.2% to 2,065 total sales.
“Buyers in Central Texas now have a more abundant selection of homes to peruse than in previous years,” Ashley Jackson, 2023 ABoR president, said. “The drop in median home prices indicates buyers can be a little more selective in the search for a home that checks all their boxes. For buyers actively shopping for a home—and those who have been sitting on the fence waiting for their time to strike—now is the time to contact your REALTOR® and get serious about buying a home.”
Greater Austin Sales, September 2023
