Highlights-

• Closed sales (MLS) in May fell 8.8% from last year to 811, but this gap is closing as new contracts rise annually and monthly.
• COMPASS ATX Rollingwood Pros Total Closed Dollar Volume YTD: Up +6.3%
• New contracts in May grew 18.4% from last year and 9% from last month, totaling 1,262, indicating increased buyer demand.
• Available inventory increased 17% from last year, with 4,055 active listings. Although new listings slowed from last month, they were still 6.7% higher than last year.
• The average market time remains stable at 41 days, with homes closing at 95.12% of the original list price.

Homes On Deck

In May, Austin had 4,055 active single-family listings, up 17% from last year but down 9.5% from the previous month.

Months Supply Of Inventory

The City of Austin currently has approximately 4.8 months of inventory, suggesting a balanced supply and demand.

Sales Pulse

The average number of days on the market remains fairly consistent with the previous month, holding steady at 41 days. This represents a modest reduction of 3 days from the same period last year.

Price Tag Trends

Median Sales Price: $647,000

New Contracts Written: 1,262

Median List Price U/C = $659,000

Average List Price U/C = $855,797

Median List Price = $675,000

Average List Price = $913,067

COMPASS ATX Rollingwood Pros:  Average Sold Price: $894,455—buyers are still stepping up for the right listings.

Buyer and Seller Clues

Homes were sold in an average of 41 days, which is 3 days slower than the same period last year. Properties are closing at approximately 95.12% of the original list price, with 54% of the inventory seeing an average price drop of 7%.

View the Full May Austin Market Report  - HERE