Austin's Real Estate Market in 2023: A Deep Dive into the Numbers : Welcome back to our weekly analysis of Austin's real estate market. As we navigate the intricate landscape of 2023, let's delve into the technical details and data-driven observations that underpin the market dynamics.

Supply and Demand Metrics: A year ago, Austin's MLS had 12,787 active listings, which have now reduced to 12,530. Beyond these numbers, the 'Months of Inventory' metric provides valuable insights. It has increased from 4.16 months to 4.99 months year-over-year, representing a 1.2 times uptick. This indicates that the market is becoming slightly more favorable for buyers, as the increase in inventory provides more options.

Price Analysis: In terms of pricing, the average list price for active homes in Austin's MLS currently stands at $670,007, reflecting a 1.79% year-over-year increase. However, a closer look reveals nuances. The average sold price for this month, at $576,651, shows a marginal 0.12% dip compared to the same period last year. Meanwhile, the median sold price of $437,072 signifies a more substantial 4.78% year-over-year decrease. These figures suggest that while listing prices are climbing, actual sale prices are experiencing some downward pressure.

City and Regional Dynamics: Zooming out to Central Texas' 30 cities, we find a mix of month-over-month and year-over-year trends. 43% of these cities have witnessed month-over-month price increases, while 53% have seen declines. On an annual basis, 37% of these cities have reported price rises, with 63% witnessing decreases. These trends highlight the localized nature of the real estate market, where each city can have its unique trajectory.

Zip Codes Analysis: In the granular analysis of the 75 Central Texas zip codes, we observe similar trends. 45% have recorded month-over-month price gains, while 48% have seen decreases. Year-over-year, only 35% of zip codes have noted price increases, while a substantial 65% have reported declines. This data emphasizes the diversity of the real estate landscape, with some areas experiencing growth while others face price contractions.

Sales vs. List Prices: The data shows that approximately 71.10% of properties sold this month went for less than the list price. This is a notable increase from the previous month's 65.78%. Around 17.34% sold at the list price, maintaining stability compared to the prior month. Notably, properties sold above the list price accounted for 11.56%, reflecting a modest decrease from the preceding month's 12.07%. This data underscores the competitiveness of the market, where the majority of buyers are negotiating favorable deals below the listed prices.

Conclusion: In this data-driven analysis, we've uncovered the intricate details of Austin's real estate market. Whether you're a buyer, seller, or investor, understanding these technical aspects is key to making informed decisions. Continue to explore our comprehensive 550-page report for deeper insights into Market Cycles, Affordability, Interest Rates, and more.

Stay tuned for next week's updates on Austin's housing scene, and feel free to reach out if you have any questions.​