The gist
According to ABoR officials in a news release, there were 2,337 total sales across the MSA in October, indicating that buyers are still “finding value in the market.”
Active home listings and pending listings were also up across the metro, increasing by 5.2% and 12% respectively. Along with more sales and listings, median home prices dipped by 7.5% to $435,000.
“An increase in sales and a jump in pending sales indicates buyers continue to enter the market and are finding more bargaining power throughout the transaction,” said Ashley Jackson, 2023 ABoR president.
However, homes still lingered on the market for an average of 68 days—three weeks longer than last October.
The breakdown
In Travis County, year over year:
- Sales were down 7.7% with 957 homes sold.
- The median home price was down 1.2% to $524,500.
- Active home listings were up 9.6% with 4,798 listings.
- Pending sales were down 0.3% with 909 pending.
- Sales were up 11.2% with 844 homes sold.
- The median home price was down 7.1% to $424,990.
- Active home listings were down 12.6% with 2,786 listings.
- Pending sales were up 14.1% with 794 pending.
- Sales were up 21.6% with 360 homes sold.
- The median home price was down 8.7% to $373,294.
- Active home listings were up 24.7% with 1,594 listings.
- Pending sales were up 44.5% with 370 pending.
- Sales were up 6.8% with 125 homes sold.
- The median home price was down 3.9% to $349,850.
- Active home listings were up 16.1% with 570 listings.
- Pending sales were up 5.9% with 125 pending.
ABoR housing economist Claire Losey noted in the release that the decrease in year-over-year median sale prices “pales in comparison” to the housing equity gained over time.
“The median price is still 44% higher than it was in September 2018,” Losey said. “Homeownership is still the best way to create generational wealth, and the region would benefit from reforms and policies that make homes more attainable and buying more accessible for people across different income levels.”
