Homes in Round Rock, Pflugerville and Hutto are still showing year-over-year price decreases as the market continues to cool after the sharp valuation spikes of 2021 and early 2022.
The gist
The latest report from the Austin Board of Realtors shows the average price of homes in Round Rock in May sat at $547,953, which represents an 11.6% decrease from May 2022, when the average home price was $592,653.
The average home sales price in in Hutto fell 10.2% from last May, dropping from $436,295 to $394,963.
Pflugerville had the sharpest decline, as home prices there dropped 15% year over year. In May 2022 the average home sold for $512,364 compared with $434,765 this May.
More inventory
Additionally, the market in Round Rock has become more favorable for buyers than last year, at least in terms of the amount of inventory available. In May 2022 in Round Rock, there were only 0.9 months of inventory, or the amount of time it would take to sell all of the homes for sale in a given area.
This May, there were 2.4 months of inventory in Round Rock.
Similarly, Pflugerville had 0.6 months of inventory in May 2022 compared with 2.5 this May.
In Hutto, the contrast was less pronounced but still evident, as the months of inventory grew from 0.8 in May 2022 to 1.5 this May.
