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Hi Austin Texas, it is time for your housing market update for the week of November 14th, 2022.
Welcome to the Austin Weekly Market Update where we’re going to dive deep into the Housing market – Let’s dive into the numbers!
austin market report stats Highlights Include:
- As of Monday morning there were 10,079 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 798 new listings that came to the market up in the week prior.
- There are 1689 home price decreases (164 less houses had price decreases vs last week).
- There are 118 home price increases down from 219 last week which tells me Sellers are starting to understand the effects of mortgage rates and economic forecast.
- There are 179 properties that fell out of contract now back to the market that is slightly down from the previous week.
- There are 331 properties that went Under Contract.
- There are 400 Pending properties for Sale.
- When we add up the “Under Contract” and “Pending” 731 homes are currently in the process of being purchased.
- We saw 522 homes Sold which is down from the previous week (174 less).
- 297 were withdrawn which means they are no longer for sale.
- 55 homes had listings that expired (down from last week when 249 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.
- 98 Homes are now on hold. (down for homes on hold vs last week).
Austin continues to contract 100+ homes/day.
Austin continues to list 100+ homes/day.
What’s happening with our Austin homes For Sale and where are those price decreases really occurring?
Home that had price drops this past week:
<$500,000 929 houses
$500,000-$999,999 646 houses
$1,000,000-$1,999,999 107 houses
$2,000,000+ 37 houses
Mark drops thoughts on the economy and give us the scoop on a NEW 3-2-1 Mortgage opportunity that Buyers can take advantage of in today’s marketplace.
Tune in for more!
Have questions? We’d love to hear from you!
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.
Thanks so much for tuning in, we’ll catch you next time!