Austin Market Report September 2022

Austin Market Report
Week of August 29th, 2022

No market can continue to go up on the trajectory we were on nationally. Not even the Austin Texas market!

Hi Austin Texas, it is time for your housing update for the week of August 29th, 2022.

market stats Highlights Include:

  • As of Monday morning there were 9575 homes for sale in Austin Texas. Let’s get in the numbers and the housing market conditions because the media around the globe is having a field day creating story and boosting their ad revenues.
  • There are 1079  new listings that came to the market up in the week prior.
  • There are 1927 home price decreases. (27 less houses had price decreases vs last week)
  • There are 178 home price increases down from 278  last week which tells me Sellers are starting to understand the effects of mortgage rates and economic forecast
  • There are  257 properties that fell out of contract now back to the market that is  / barely up from the previous week 
  • There are 535 properties that went Under Contract  
  • There are 571 Pending properties for Sale
  • When we add up the “Under Contract” and “Pending”  1106  homes are currently in the process of being purchased 
  • We saw 928 homes Sold which is up from the previous week (159 less).
  • 281 were withdrawn which means  they are no longer for sale.
  • 34 homes had listings that expired (flat from last week when 41 home listings expired). Expired means that the house was for sale for a specific period and that it did not sell. It is currently off the MLS. This tells us that Sellers and their Agents who are not following the market closely did not adjust for the market.
  • 143 Homes are now on hold. (a few more homes on hold vs last week).

Mortgage Rates  Were Flirting at 5.25 2 Weeks Ago%.

There’s inflationary pressure with Jerome Powell’s recent comments. With the reduction of money at play, mortgage rates have now increased from 5.25-5.50% range of 2 weeks ago.

Employment rates nationally VS Employment Rates Austin

Coming out on Friday… the impact of the yet-to-be announced rates require a crystal ball at this point.

What Does This Mean If You’re A Seller?

DOM or “Days on Market” have increased from 12 days (2021) to 22 days (2022) which means how you market your home For Sale matters now more than ever. How those Buyers are reached, how they’re spoken with matters. Every photo and every caption matters. Pre-promotion to Agents and Austin home Buyers matters. Download my Seller’s Guide.

What Does This Market Mean If You’re a Buyer?

If you are buying a home in Austin Texas, base on the current housing inventory levels,  we continue to be in a hot Sellers market. Buyer’s there are a lot of homes that were priced “aspirationally” and builders have brought house prices down. Prices are aligned to allow for higher lending rates and affordability. You may be adjusting your budget and/or expectations on how much house you’re willing to afford monthly payments for (unless you’re an “all cash” Buyer). Download my Buyer’s Guide.

Waiting on Housing Prices to Come Down?


Don’t. You’re better to be in the home you want to be in and can readily afford. Home prices may be declining slightly but our home values are higher than they were a year ago. And, we anticipate that home values continue to rise throughout this year. 


What is the efficiency of your money? 

Your REALTOR®  will negotiate great terms for YOU.  Whether  You’re a Buyer or Seller Your Most Valuable Asset is a great Real Estate Agent and Lender – the power of the two is a one-two punch you don’t want to miss.  

Let us end with this about the Austin Texas housing market. There are opportunities for buying and selling in every market.  

I’m here to serve and answer questions you may have.  You can wait.  We have pent up Buyer demand that is not going away. Next week we’ll have another Austin housing market update for you. 

Please comment below with any thoughts or questions you have about the Austin Texas housing market, the economy and what you’re experiencing as you consider where you are living, loving, working and playing in Austin Texas. 

I’m Jennifer S. Goodman  Living in Austin Texas.  And, whether you’re thinking about moving in 7 days, 7 weeks or 7 months, I’d love the opportunity to help you make your next best move.

Mark Karetskiy is a Mortgage Lender at Movement Mortgage. You can find him at Mark10k.com

Want to talk about real estate? Please feel free to call or text at 512.548.4568

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