Austin realtors optimistic as prices hit two-year low in Central Texas

However, Austin's median home sales price has dipped to $439,419, the lowest it has been in almost two years, according to new data from the Austin Board of Realtors.

MySA spoke to realtors, including ABoR president Ashley Jackson, in February about the cooling of the Austin market. The prevailing opinion was that the extreme sellers' market that was causing low inventory and nonstop bidding wars was an abnormality, and that this resetting of the market was positive, especially for first-time home-buyers. 

"In some ways," realtor Kristen Kreisel said last month, "I think there's been some relief on all sides."

With the latest data, Jackson is reiterating a similar message: that sustainability is more important than prices consistently reaching eye-popping numbers.

"Austin’s housing market is trending in the right direction," she said, in a release. "Buyers have more options and negotiating power with each passing month, and sellers have more time to make their next move."

Across the city proper, home sales decreased just a tick under 30%, with sales dollar volume down 31.9% ($389,252,605) and median prices sliding 6%. During that same time period, inventory increased to 2.2 months from 1.9 months year over year.

Meanwhile, Hays and Bastrop counties both saw year-over-year increases in sales while seeing decreases in median price.

In Hays County, which encompasses towns like Buda, Kyle, Wimberley, and Dripping Springs, and which contains portions of the cities of Austin and San Marcos, home sales increased 3.8%, with the median price falling 13.1% to $380,000. Active listings jumped a staggering 448.8% to 1,136 listings, no doubt in large part to a massive increase in development in the area.

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