June 2023 Update: How is the Real Estate Market in Austin Metro? Come on, clickbait journalists!!! This is not a crashing market.
How is the Real Estate Market in Austin Metro? 1/2 of 2023 is behind us.
This is NOT A CRASHING MARKET. Come on, clickbait journalists!!! -Values are making a recovery on 2021 records with forecasted outpacing. 2023 listings are now closing above the values of 2021.
Highlights:
-2nd highest avg sold value
-2nd highest Pending Price
- 13,329 units
-YTD-11,213 units
SOLDs - 8th best year approaching 7th or 6th.
-Unit Volumes SLOW and LOWER.
- Months of Inventory 3 mo. ---STABLE and multiple offers are happening.
-Sales Volume is down this year but is stabilizing and strengthening.
-We gave up gains and money and now have stabilized.
-We've hit bottom and are now driving toward values
-AVG sold price $607,000 (2nd highest) RECOVERED
-Today's Market requires paying a premium compared to the historical. Tomorrow's housing market looks to track with Austin's appreciation.
-2023 is SURPRISING WITH SOLD VALUES, PENDING VALUES, and AVG LIST PRICE higher and highest this year to date.
-Builders have run through excess inventory and reduced incentives.
-Mortgage rates have priced in an increase -Float! What comes up must come down. Energized finance market; let's see...
-Investors Cash flow positivity is minimized in Austin without substantial down payments, and the West Coast investors continue with CA$H purchases.
Source: Housing Report ~ Austin
It's a great day to buy or sell a house in the Austin and Greater Metro TX Hill Country. Contact Us TODAY for a Market Snapshot on your property!
Interpretation by Cara A. Collier, REALTOR®, GRI
Kenney Grant Realty, Austin est. 2020 Independent Broker
512-537-3803
https://caracollier.kenneygrantrealty.com/
#realestateinvesting #2023 #letsmakeamove #KenneyGrantRealty #austinrealestate #marketupdate #budadrealestate #kylerealestate #listingagent #buyersagent
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