Sign up for the Austonia daily newsletter

become a member

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.


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.

Enjoying Austonia? Signup for our newsletter to get daily Austin news, straight to your morning inbox!



It's official, jack-of-all-trades Matthew McConaughey is staying out of politics and not running for Texas governor.

Keep Reading Show less

(Texas Monthly)

There is a fearless declaration of the obvious in “Being Texan: Essays, Recipes, and Advice for the Lone Star Way of Life,” a book that invites its readers to recall the power and panache of the late Texas Gov. Anne Richards, before getting schooled on no less than twenty types of taco.

Keep Reading Show less

Stories from the Road delivers an interactive performance while aiming to paying musicians farily. (Laura Figi/Austonia)

In a city where live music is heralded above all else, Pete Monfre was surprised to find local musicians working for free that he quit the industry for 10 years in 2006.

Keep Reading Show less