02/08/2022
.47 months of inventory....In a balanced market, we need 6 MONTHS of inventory! Prices are up over 37%! Needless to say, I NEED more inventory, and it's a GREAT time to sell! Call me if you or anyone you know needs to sell!
Preliminary December Sold Data
2021 Numbers as of 2/7/2022 (5:01pm)
Units Sold:
2,355 down 9.21% from January 2021
(The number of sold homes may increase as sales are reported/updated in MLS)
Average Sales Price:
$566,886 up 25% from January 2021
Average Days on the Market:
27.61 days down 8.1 days from Jan 2021
Median Sales Price:
$473,000 up 31.39% from 1 year ago
Highlights for the Month:
January numbers are in albeit, still preliminary. Overall the numbers are looking good compared to 2021 and I expect that the 9% decrease will be decreased as the month continues.
Average Sales prices are clearly over those from 2021 with the current median ($473,000) for January. The average to average increase seems to show about a 25% increase from January 2021 to January of 2022. I still expect to see that number come down a bit as more sales are recorded for January. Expect to see 22-23% increase for January which is similar to the median increase we saw in December.
In terms of average sales prices and days on the market from January 2021 to January 2022, the median sales price has increased 31.39% while sales are taking 8.10 less days to sell. All good news as we kick off another interesting year in real estate for Austin.
The Week in Review
Changes in Units for Sale for the Week of January 30 - February 5, 2022
New listings:
Down to 37.37% compared 1/31- 2/6/2021
Pending listings:
Up 73.75% compared to last year
Sold listings:
Down 1.73% compared to same week last year
Current Months of Inventory:
Down to 0.47 months (last week it was 0.52)
(We've updated our Inventory Stats to ONLY include Actives and no Actives Under Contract!)
Median Sales Price:
Is down to $451k (2/1/2021 - 1/31/2022)
Highlights for the Week:
Its another week in of more pending sales this past week compared to the same week in January of 2021. This is a good sign for sellers as sales continue but maybe not so great news for buyers. Sales are showing no signs of slowing down even one month into the new year. We are continue to see fewer sales from week to week, however monthly sales are still very close to those in 2021.
Key factors to continue watching this week/month is the continued decline of months of inventory. Inventory is down again to 0.47 weeks after seeing 0.52 last week. Hopefully this week has some new listings in stock for the month and more as we move forward into Spring!
Changes in Price Ranges
Prices for the Week of January 30 - February 5, 2022
Sold average sales prices increased 19.23% to $569,808 ($489,106 median) this past week compared to the same week in 2021 when we had an average of $477,921.
