While the volume of residential homes sold is slightly falling in the Austin-Round Rock metropolitan area, it is not a sign of slowing demand, according to the Austin Board of Realtors’ September Central Texas housing report.

Home sales in the Austin-Round Rock Metropolitan Statistical Area saw a 5.1% year over year decrease in the number of homes sold in September. For the month, 3,682 homes sold, which is less than the number sold in September 2020; however, prices continued to climb with the median price of a home across the five-county metro area now at a September record of $450,000, according to the ABoR.

“The Austin housing market remains strong and competitive,” ABoR President Susan Horton said. “However, more homes are beginning to hit the market, evidenced by the increase in new listings in September, which is creating a greater number of opportunities for buyers. While this is a positive step forward, there is a long way to go for this to be a balanced market.”

New listings across the market increased 16.9%, and Travis County saw listings increase 13.3%. The Lake Travis-Westlake area, which includes West Lake Hills, Rollingwood, Bee Cave and Lakeway, saw 302 new listings in the month of September, according to the ABoR.

The number of homes sold, 257, dropped 30.7% from September 2020 as the median price for the month climbed 22.6% to $800,000. The median price for the west Travis County area is 78% higher than the metro area overall. Lake Travis-Westlake homes for sale spent an average 24 days on the market—about a week longer than the metro area overall.