The gist

The residential real estate markets in Round Rock, Pflugerville and Hutto are still dropping in median price and increasing in inventory.

The local trend for June is similar to pricing and inventory data shown in the entire Austin-Round Rock metropolitan statistical area, according to a July 13 report from the Austin Board of Realtors.

By the numbers

In Round Rock, the median price of a home is $460,000, which represents a 16.4% decrease from last June.

Prices in Pflugerville and Hutto are slightly more stable at a median price of $389,403, which is a 7.8% drop year over year.

Throughout the Austin metro area, the median home price dropped 9.6% year over year to $483,000 as the number of homes available jumped 38.4% to 9,631 active listings over the same time period, according to the report.

The context

The report from ABoR states the first six months of 2023 showed an Austin metro real estate market that continues to stabilize from the rapid price increases of 2021 and early 2022.

Despite that stabilization, the ABoR report states there is still more need to address affordability issues throughout the region.

Quotes of note

“We are seeing the market normalize after years of record-setting pace, but it is our job to help the region’s housing market fundamentally improve so that anyone that wants to buy a home here can find one within their budget,” ABoR President Ashley Jackson said in the report.

“The median sales price in the MSA appreciated by nearly 50% from June 2019 to June 2023. The ability to buy a home remains the best way to create generational wealth, and that needs to be more accessible to everyone,” ABoR Housing Economist Clare Losey said in the report.