Jan 2023 Austin Market Statistics
AUSTIN, TX — In January, median home prices dropped 6.3% to $450,000, the largest price drop since
July 2011, according to the Austin Board of REALTORS® latest Central Texas Housing Report. Despite
the price decrease, monthly housing inventory stayed flat at 2.7 months of inventory from December
2022, demonstrating that this market is still in need of more housing as the industry standard is that six
months of available inventory is considered a balanced market between buyers and sellers.
In January, residential home sales declined 27.3% year-over-year to 1,634 closed sales and sales dollar
volume declined 29.1% to $917,954,115. New listings dropped 16% year-over-year to 2,988 listings while
pending listings dropped 16.7% to 2,581 transactions. Monthly housing inventory increased 2.3 months
to 2.7 months of inventory, and homes spent an average of 76 days on the market, up 47 days from
January 2022, but only up three days from December 2022.