March 2023 Market Statistics
Austin-Round Rock MSA housing inventory topped 3.0 months in March, while an increase in new and active listings indicates favorable market conditions for buyers and sellers, according to the Austin Board of REALTORS® latest Central Texas Housing Report.
In March, 4,385 residential properties hit the market, an increase of 6.6% in listings from the year prior. Active listings soared 377.7% to 8,059 listings, pushing the region’s housing inventory up from 0.5 months to 3.0 months of inventory across the five-county area. Pending sales declined 7.4% to 3,046 transactions, while homes spent an average of 80 days on the market, up 58 days from March 2022. At the same time, residential home sales declined 14.0% year-over-year to 2,804 closed sales, the median price declined 13.5% to $450,000, and sales dollar volume dropped 24.9% to $1,580,024,101.