Northwest Austin housing market continues to cool after early summer peak

New homes in North Austin
The median price of homes in Northwest Austin dropped by more than 7% from its summer peak in June. (Iain Oldman/Community Impact Newspaper)

The median price of homes in Northwest Austin dropped by more than 7% from its summer peak in June. (Iain Oldman/Community Impact Newspaper)

The median home price for properties in Northwest Austin has dipped for consecutive months for the first time this year, according to a new real estate report.

The Austin Board of Realtors on Sept. 16 released its Central Texas Housing Market Report, which shows a continued decline in housing prices across Northwest Austin compared to peaks seen earlier this summer.

The median price for all properties in Northwest Austin—including single-family homes, townhouses and condominiums—dropped to $548,750 in August, according to the newest ABoR data. That is a 7.77% decline in the median price from June 2021, when home prices peaked at $595,000.

August was also the second month in a row where home prices overall have declined across Northwest Austin, a first for this year. With the exception of a single-month dip in May, home prices had increased every month this year until July, when the median home price in Northwest Austin fell by more than 5% from the month prior.

“The region’s housing market is calming compared to the hectic pace experienced at the beginning of the year,” ABoR President Susan Horton said in a Sept. 16 news release. “While it wouldn’t be appropriate to say market conditions are normalizing—inventory is still at an all-time low and homes are still selling as soon as they hit the market—August’s housing activity is closer to what we would typically experience in the fall.

While home prices appear to be falling after the early summer peak, the Northwest Austin market is still pricey compared to this time last year. In August 2020, the median price for all homes was $430,000, which is 21.64% cheaper than the median price this August, according to ABoR data.

The Northwest Austin market was also more expensive than the real estate market citywide in August, the ABoR report shows. The median home price in the city of Austin was $540,000, or about $8,000 cheaper than the Northwest Austin median price. The median home price in the city of Austin rose 27.1% year over year.
By Iain Oldman
Iain Oldman joined Community Impact Newspaper in 2017 after spending two years in Pittsburgh, Pa., where he covered Pittsburgh City Council. His byline has appeared in PublicSource, WESA-FM and Scranton-Times Tribune. Iain worked as the reporter for Community Impact Newspaper's flagship Round Rock/Pflugerville/Hutto edition and is now working as the editor for the Northwest Austin edition.


Homeless Strategy Officer Dianna Grey briefed City Council on Austin's spending of more than $100 million in American Rescue Plan Act funding on homelessness Oct. 21. (Ben Thompson/Community Impact Newspaper)
Officials share outlook of 3-year plan to house 3,000 homeless people in Austin

Although the path to build more than 1,000 new spaces for those without shelter will take time, officials believe the goals are achievable.

Photo off APD sign
Austin police cadet academy review notes positive strides but says instructors lack buy-in to 'reimagined' concept

Reforms at the Austin Police Department academy are mixed so far, while the department and outside evaluators agree on several potential improvements going forward.

A $6.7 million budget amendment was approved by consent at the Round Rock ISD Board of Trustees meeting Oct. 21. (Brooke Sjoberg/Community Impact Newspaper)
Round Rock ISD Board of Trustees approve $6.7 million in budget amendments

A $6.7 million budget amendment was approved by consent at the Round Rock ISD Board of Trustees meeting Oct. 21. The budget amendment was requested to cover planned expenses for Career and Technical Education projects, instructional professional development, equipment, substitute teachers and the increase of insurance premium costs.

Some of these projects have been previously accounted for under the 2018 bond plan, while others were recommended by district staff. (Brooke Sjoberg/Community Impact Newspaper)
Round Rock ISD board approves campus infrastructural improvement contracts

At the Oct. 21 meeting of the Round Rock ISD board of trustees, several projects to renovate or improve infrastructure of campus facilities were approved.

Brandon Cardwell, the district's executive director of facilities and construction, addressed the PfISD board during an Oct. 21 meeting. (Brian Rash/Community Impact Newspaper)
Bohls Middle School within PfISD slated for late December completion

Brandon Cardwell, the district's executive director of facilities and construction, said during the district's Oct. 21 board meeting that much work is still needed on the campus, but he is encouraged by the pace at which crews are operating.

North Austin home under construction
Homes prices across Northwest Austin fall for third straight month

The median home price in Northwest Austin dropped to its lowest figure since March 2021.

Cumby Group is planning development for three adjacent multifamily projects on Manor Road in East Austin, including The Emma apartments. (Courtesy Cumby Group)
3 years in, Austin is falling behind on goals in affordable housing plan

From 2018-20, the city only reached 12% of its 10-year goal to build thousands of new homes and rental units.

Taco Palenque is now open as drive-thru only in Round Rock. (Brooke Sjoberg/Community Impact Newspaper)
CI NATION ROUNDUP: Taco Palenque opens in Round Rock; Plano ISD considering two draft calendars for 2022-23 school year and more top news

Take a look at the top five trending stories across all of Community Impact Newspaper’s coverage areas as of Oct. 21.

The Austin Transit Partnership is exploring above- and below-ground options for a transit center at the East Riverside Drive and South Pleasant Valley intersection. (Courtesy Austin Transit Partnership)
Project Connect plans to explore above-, below-ground options for East Riverside/Pleasant Valley Transit Center

After hosting a community design workshop, the group overseeing Project Connect designs is moving forward with options for both an underground and above-ground station at the intersection.

Medici Roasting
Local coffee chain Medici Roasting opens cafe in The Domain

Medici Roasting is now open in The Domain inside the Flatiron Domain building.

A calculator created by the Rocky Mountain Institute looks at the environmental impact of TxDOT's proposed designs for I-35 in Central Austin, one of the most congested roadways in the country. (Benton Graham/Community Impact Newspaper)
Nonprofit's tool says TxDOT I-35 expansion proposals would have profound environmental consequences

The tool says that the proposal would create between 255 and 382 million additional vehicle miles traveled per year.

Photo of the Travis County administration building and sign
Travis County hears update on process to reassess master plan for aging correctional facilities

The process comes after county commissioners opted to pause all activities of the master plan over the summer.