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Despite downturn, Austin’s housing market is still on track for a record-breaking year

Austin's housing market continues to slow down even as the metro is set for a record-breaking year. ( Pavel Danilyuk/Pexels)

Austin's hot housing market is cooling down with the weather, but it's still on track for a record-breaking year according to the Austin Board of Realtors October 2021 Central Texas Housing Report, which has shown that home sales across the metropolitan statistical area have dropped by 12.1% since this time last year.


Last month was a slow one for the real estate market across the Austin-Round Rock metro area, with 3,250 closed sales compared to 3,780 in October 2020. On the flip side, the metro's median home sales price grew by 24.7% year-over-year to $455,000, setting a record for the month.

(ABoR)


Of course, if you want to live close to the city center, it's going to cost you more: in just the Austin city proper, the median home price is up by 21.1% year-over-year from $441,250 to a whopping $536,000.

ABoR 2021 president Susan Horton said with more new listings continuing to pop up, prospective buyers have more options to pursue.

"We are beginning to see a glimpse into what buyers and sellers can expect in our housing market moving forward," Horton said. "With the market remaining stable — but still on track for a record year — it is an exciting time for realtors who continue to be the best advisers to both buyers and sellers when it comes to navigating one of the most desirable housing markets in the country."

Although the median home price is up from this time last year, the Austin metro area hit its pricing peak in July 2021 at $478,000. According to a study done by the Texas A&M Texas Real Estate Research Center, the pandemic accelerated home sales in an already depleted market, causing prices to jump. However, the study indicates that Texas' "housing frenzy" could be over as both price growth and sales have already peaked.

New listings are up by 0.9%, from 3,747 to 3,777 new listings to browse, however, active listings are 0.5% down year-over-year to 3,475 from 3,501 in 2020, which was already down by 50%.

Inventory remains stable with about a month available, only dipping by .1 months since last year. You have less time to shop around though, as homes spent about 20 days on the market in 2021, down from 35 days in October 2020.

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Comedy, live music, McConaughey Q&A: Events in Austin this weekend


💈 Finley’s Pop-up Barbershop

Experience luxury grooming the old-fashioned way at a revival of the Driskill Hotel’s early 1900s barbershop put on by Austin-based Finley’s. The pop-up will offer men’s haircuts, beard trims, hot towels, neck massages and straight razor shaves. Click here to book an appointment.

9 a.m.-6 p.m. Friday-Sunday | The Driskill Hotel, 604 Brazos St.

😂 Moontower Comedy Presents Hannah Gadsby

Catch veteran Australian comedian Hannah Gadsby touring with her newest show, “Body of Work,” written while she pondered the effects of the pandemic. Tickets are still available in the orchestra section, starting at $60.

Doors at 6 p.m. Friday | The Paramount Theatre, 713 Congress Ave.

🎤 Rex Orange County Who Cares? Tour

Alexander James O'Connor, AKA Rex Orange County, is returning to Austin to perform his newest album, “Who Cares?” Tickets are still available starting at $49 each.

Doors at 7:30 p.m. Friday | Germania Insurance Amphitheater, 9201 Circuit of The Americas Blvd.

⚾️ Round Rock Express vs. El Paso Chihuahuas

Catch our local Minor League team play against the El Paso Chihuahuas at home this week. Tickets start at $22.

Starting 7:05 p.m. Friday | Dell Diamond, 3400 E Palm Valley Blvd.

🎶 Bleachers—The 2022 Tour

Enjoy a night of indie-pop from Grammy-winning producer Jack Antonoff, whose stage name is Bleachers, from the intimacy of Stubb’s. Tickets are still available starting at $33.

Starting 7:05 p.m. Saturday | Stubb's Waller Creek Amphitheater, 801 Red River St.

🎸 The Peterson Brothers with Latasha Lee

Catch the groovy, Bastrop-born brothers are taking their rightful place on stage with soulstress Latasha Lee at Antone’s. Arrive early, seating fills up quickly! The show is 21+ and tickets start at $15.

Doors at 7 p.m. Saturday | Antone's Nightclub, 305 E 5th St.

🤠 Emmanuel Acho and Matthew McConaughey Q&A

Famous former Longhorns Emmanuel Acho and Matthew McConaughey are joining forces for a Q&A about catching greenlights and living a limitless life. Each ticket will get the holder a copy of Acho’s new book, “Illogical: Saying Yes to a Life Without Limits.” Tickets are $39 per person.

1:15 p.m. Sunday | LBJ Auditorium, 2313 Red River St.

⚽️ Austin FC vs. Orlando City

Austin FC is facing off against Orlando City at the biggest party in Austin, Q2 Stadium. Tickets are still available starting at $65 but ticketless Verde fans can still support at one of the many Pub Clubs.

7 p.m. Sunday | Q2 Stadium, 10414 Mc Kalla Pl.


Austin FC wins big! Team makes history, takes No. 1 spot in 2-1 LAFC win

Over a year after its first loss, Austin FC was all smiles as it beat LAFC to take home the top MLS West spot Wednesday. (Austin FC/Twitter)

Over a year after they took the stage for the first time in Los Angeles, Austin FC returned to Banc of America Stadium to snatch the No. 1 spot from LAFC in a 2-1 statement win late Wednesday night.

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