The details
ZIP code 78758 in The Domain area experienced the largest decline in home sales year over year in April, going down 42.9%. The McNeil area in ZIP code 78727 also experienced a decline of 32%, while the Anderson Mill and Jester areas in ZIP code 78750 declined 27.6%.
Alongside fewer home sales, ZIP code 78750 experienced the largest increase in the average number of days a home spent on the market, rising 133.33%. The Jollyville area in ZIP code 78729 also experienced an increase of 92.3%.
Median home prices remained similar across the market in April compared to the previous year, with the largest increase in ZIP code 78729 at 11.63%, and the largest decrease in ZIP code 78727 at 11.82%.
What else?
Most of the homes sold across the market cost between $300,000-$699,999, but there were also 16 homes over $900,000 sold in April.
Marketwide, there were fewer homes sold in April compared to the previous year, alongside fewer homes under contract. On the other hand, there were more new listings this year compared to last year, and around 90 more active listings.
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. Northwest Austin had 4.5 months of inventory in April compared to 2.8 the previous year.
Click here to see the real estate data for Northwest Austin in March.
