September Housing Price Data in Austin Revealed! Surprise Leader Emerges!
September CPI Data Report
Last week, the U.S. Department of Labor released its latest report, revealing that the Consumer Price Index (CPI) for September remained steady at 3.7%, slightly higher than the expected 3.6%. Encouragingly, the core CPI decreased to 4.1%, aligning with expectations. At the current pace, it may not reach the Federal Reserve’s 2% target until late 2024.
September Housing Price Data Report
According to the market report published by the Austin Board of REALTORS®, the median housing price in the Greater Austin metropolitan area (Austin-Round Rock) for September was $452,080. New listings decreased by 7%, while active listings increased by 7%, and pending sales rose by 7%. The average time on the market was 65 days, and the inventory stood at 4 months.
City of Austin
In September, the median housing price in the city of Austin dropped by only 2% compared to the previous year, settling at $536,028. Even in the face of rising interest rates, Austin’s city center continues to maintain its advantage in the real estate core. New listings in September remained tight, with a decrease of 11%, totaling just 1,116 units. Active listings decreased by 14% to 2,968 units. There were 628 pending sales, a 2% decrease compared to the previous year. The average time on the market was 54 days, and the inventory level was 4.1 months.
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Travis County
In Travis County, the median housing price for September decreased by 4% compared to the previous year, reaching $525,000. New listings decreased by 12% to 1,737 units. Pending sales remained stable at 994. The inventory level stood at 4.2 months, with an average time on the market of 57 days.
Williamson County
Encompassing the most satellite cities, Williamson County witnessed a 6% drop in the median housing price for September, settling at $426,752. There were 791 completed transfers, a 20% decrease compared to the previous year, and a 10% drop in new listings. Pending sales increased by 10% to 807 units. The inventory level was 3.3 months, and the average time on the market was 68 days.
Hays County
Hays County could be considered a dark horse! In September, the median housing price surged to $400,000, despite a slight 4% decrease compared to the previous year. It resisted high interest rates and demonstrated significant potential, highlighting the influence of the Texas Innovation Corridor. In September, there were 356 properties entering pending sales, marking a substantial 24% increase!
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Of course, as a well-established company with 20 years of experience in Austin real estate, Real International is always at the forefront of market intel. In Hays County, we offer group purchase discounts of up to 12% below market prices. It’s conveniently located near the largest outlet shopping center in Texas, only 10 minutes from Texas State University, and 15 minutes from Tesla’s new warehousing and logistics center.
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Email: info@realinternational.com
Phone #: (512) 808 – 0677
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Bastrop County
In Bastrop County, the median housing price for September saw a 10% decrease compared to the previous year, amounting to $340,000. Apart from an impressive 23% increase in active listings, other data points indicated declines. The average time on the market was 83 days, with an inventory level of 5 months.
Caldwell County
Caldwell County reported a median housing price of $289,330 in September, reflecting a 13% year-over-year decline. The number of transactions decreased by 9%, totaling 37 units. There were 81 new listings, marking a significant 68% increase. 51 units entered pending sales, demonstrating a remarkable 112% surge. Caldwell County is also part of the Texas Innovation Corridor, with recent population growth being a strong driver in the local real estate market. Data indicates that the lower the price, the greater the transaction volume, and even in suburban areas, there is no sign of oversupply.
