The specifics
Compared to the previous year, ZIP code 78750 experienced fewer home sales and more days on the market in October. ZIP code 78759 experienced the opposite, however, with more home sales and fewer days on the market.
Across the market, ZIP code 78759 was the only ZIP code to experience fewer average days on the market in October compared to the previous year, seeing a 12% decrease compared to the 62% increase for ZIP code 78729.
A closer look
Price-wise, ZIP code 78758 experienced the highest percent increase in home prices year over year, topping out at 24%. ZIP code 78750 also saw an increase of about 15%.
Most homes sold in North-Northwest Austin in October cost between $300,000-$699,000, but there were 10 homes costing over $900,000 sold as well.
Related highlights
On average, homes across the market took longer to sell, totaling 55 days in October compared to 43 last year. There were also fewer homes sold market-wide, with 84 in October and 93 the previous year.
Months of inventory is a term used to describe how long it would take for the amount of homes on the market to be sold, according to the National Association of Realtors.
Six months of inventory indicates properties may slowly become more valuable over time, while less than six months may mean home prices are rising more rapidly, per the NAR. North-Northwest Austin had 4 months of inventory in October, compared to 4.1 the previous year.
