June 2023 Market Update for Austin, Texas
The Austin real estate market is sizzling, and here are the latest market trends you need to know:
1️⃣ Inventory Update: Currently, there are only 4.47 months supply of inventory in Austin. This means there is high demand and limited supply.
2️⃣ Inventory Growth: Over the last 12 months, the Months Supply of Inventory has surged by an impressive +92.67%. This indicates a rapidly evolving market.
3️⃣ List to Sold Price: The List to Sold Price percentage stands strong at 97.7%. This shows that sellers are receiving close to their asking price, giving them confidence in the market.
4️⃣ Quick Sales: Homes in Austin are selling fast! The median days on market is just 21 days. This means you’ll need to act swiftly to secure your dream home or maximize your selling potential.
5️⃣ Median Sold Price: The median sold price in Austin is currently at an impressive $652,080. This demonstrates the value and growth potential of real estate investments in our vibrant city.
Whether you’re looking to buy or sell, these market trends give you insight into the current dynamics. As a REALTOR® with Crossings Real Estate, I am dedicated to helping you navigate this competitive market and achieve your real estate goals.
Contact me today to discuss how these trends can impact your buying or selling strategy. Let’s make your real estate dreams a reality here in Austin, Texas!
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