The details
- There was a 10.53% decrease in the number of homes sold in ZIP code 78727 and an 18.92% increase in the average number of days homes spent on the market.
- The median home sales price for ZIP code 78729 decreased 8.53% for July, while the number of homes sold decreased by 10.53%.
- The number of homes sold in ZIP code 78750 increased by 13.64% in July, while the average number of days homes spent on the market increased by 19.44%.
- ZIP code 78758 experienced a 37.5% increase in homes sold in July and a 133% increase in the average days homes spent on the market. The area also had a 13.28% increase in the median price of homes sold, rising from $375,175 to $425,000.
- ZIP code 78759 had the second-largest increase in home sales for the Northwest Austin area, with 17.24%. There was also a 9.23% decrease in the median home sales price and a 33.33% decrease in the average number of days homes spent on the market.
- Market-wide, there were 10 more closed sales in July compared to the previous year, and over 100 more active listings. The price per square foot also declined from $295 to $278.
- Months of inventory across Northwest Austin remained steady year over year at 5 months, a measure 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.
