Market Normalization?

Tuesday, December 13, 2022   /   by Sarah Thompson

Market Normalization?

Are you thinking of buying a home? Are you trying to figure out how to juggle your needs, current mortgage rates, home prices, and more to decide if now is the right time to purchase?

There are more homes on the market this year than this time last year. Last year we had less than a month of inventory in the Austin area with a hyper spike in pricing. This year we have approximately 3.2 months of inventory in October, according to the Central Texas Housing Market Report, with a normalization in the market. This increase in inventory is making it easier for buyers to find a home which may help you feel more comfortable in searching for the home of your dreams. Median sales price in the Austin-Round Rock metropolitan area has increased by approximately $24k from last year despite the drop in pricing in recent months.

Inventory increases have been caused by homes staying on the market longer than in the previous year. What has caused this increase? Well, it appears the higher interest rates and home prices have helped to normalize the home buying frenzy of 2021 in the Austin area. When the pace of sales slows down, the number of active listings increases.

What does this mean for your search? You have more options to choose from in your home search. and, potentially more time to consider them before placing an offer on one. While we do still see some multiple offers on homes, there is also the potential to have more time to consider homes prior to putting an offer on one.


If you are ready to jump into the Austin housing market, please reach out and let us know how we can assist you in your search! We are here to help.

1210 Cottonwood Creek Trail, Ste 530
Cedar Park, TX 78613

Based on information from the Austin Board of REALTORS (alternatively, from ACTRIS) for the period through 2024.® IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data last updated: June 13, 2024
Based on information from the Austin Board of REALTORS (alternatively, from ACTRIS) for the period through 2024.® IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data last updated: June 13, 2024
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