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Is the Austin real estate market slowing down? Here are the May 2023 Statistics.

Categories:Austin Texas Information,news
Austin Texas March 2023 Market Stats
Austin Texas March 2023 Market Stats

The Austin Texas real estate market is showing signs of slowing down in May 2023. The median home price is still rising, but at a slower pace than in previous months. Inventory is also increasing, which is giving buyers more options.

Median Home Price:

The median home price in Austin Texas in May 2023 was $585,200. This is an increase of 2.0% from the same month in 2022.

Inventory:

The inventory of homes for sale in Austin Texas in May 2023 was 2,903. This is an increase of 10.0% from the same month in 2022.

Days on Market:

The average days on market for homes in Austin Texas in May 2023 was 25. This is an increase of 5.0% from the same month in 2022.

Where the Market is Headed:

The Austin Texas real estate market is expected to continue to slow down in the coming months. The median home price is expected to increase by 1.0% in 2023, and inventory is expected to continue to increase.

Conclusion:

The Austin Texas real estate market is still a seller’s market, but it is starting to show signs of slowing down. Buyers are now getting more options, and they are starting to have more negotiating power. If you are thinking about buying a home in Austin, now is a good time to start your search.

Additional Information:

  • The Austin Board of Realtors (ABoR) provides monthly housing market reports for the Austin-Round Rock Metropolitan Statistical Area (MSA). These reports include data on median home prices, inventory, and days on market.
  • The Texas Real Estate Research Center (TxREC) provides quarterly housing market reports for the state of Texas. These reports include data on median home prices, inventory, and affordability.
  • The National Association of Realtors (NAR) provides monthly housing market reports for the United States. These reports include data on median home prices, inventory, and affordability.
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How to fight your property taxes in Texas successfully

Categories:Important Area Information
  1. File a written protest with the appraisal district. You must file your protest by May 15, or 30 days from the date the appraisal district notice is delivered — whichever date is later. You can file your protest online, by mail, or in person.
  2. Include the following information in your protest:
    • Your name and address
    • The property address
    • The appraised value
    • The value you believe is correct
    • The reasons why you believe the appraised value is incorrect
    • Any supporting documentation, such as comparable sales or appraisals
  3. If you are a real estate agent, you must disclose this in your protest. You can do this by including a statement at the beginning of your protest that says, “I am a real estate agent and I am protesting the appraised value of my property.”
  4. The appraisal district will review your protest and issue a decision. The decision will be mailed to you. If the appraisal district does not agree with your protest, you can appeal the decision to the Appraisal Review Board (ARB).
  5. The ARB will hold a hearing to review your appeal. You will have the opportunity to present your case to the ARB. The ARB will issue a decision after the hearing.

Property Tax fight Texas

If you are successful in your protest, the appraisal district will reduce the appraised value of your property. This will result in lower property taxes.

Here are some additional tips for fighting your property tax value in Texas:

  • Start early. The earlier you file your protest, the more time you will have to gather evidence and prepare your case.
  • Do your research. Before you file your protest, research the market value of similar properties in your area. This will help you to support your claim that the appraised value of your property is too high.
  • Be prepared to negotiate. The appraisal district may not agree to reduce the appraised value of your property by the full amount that you are requesting. Be prepared to negotiate a compromise.
  • Hire a professional. If you are not comfortable fighting your property tax value on your own, you can hire a professional to help you. A real estate appraiser or a property tax attorney can help you to gather evidence and prepare your case.

Disclaimer: I am a real estate agent and not a tax professional. Please consult with a tax professional to get specific advice on how to fight your property tax value in Texas.

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April 2018 Market Report

Categories:news

Inventory remains critically low for most price classes

AUSTIN, TX–The Austin-area housing market’s declining inventory and robust sales trends are creating an increasingly competitive housing market across all price classes, according to the latest Central Texas Housing Market Report from the Austin Board of REALTORS® (ABoR).

“In the Austin-Round Rock MSA, price classes across the board are seeing an increase in demand with a decrease in inventory,” Steve Crorey, 2018 president of the Austin Board of REALTORS®, said. “While new listings are up year-over-year, homes are selling faster than they can be listed on the market. This has led to a smaller number of active listings and an increasingly competitive market for homebuyers.”

Within the Austin-Round Rock MSA, new listings increased 5.6 percent to 4,139 listings; active listings decreased 2.8 percent to 6,154 listings; and pending sales rose 14.3 percent to 3,320 pending sales. The median price of single-family homes in the Austin-Round Rock MSA increased 3.8 percent year-over-year to $316,000 in April 2018. Housing inventory decreased 0.2 months year-over-year to 2.4 months of inventory during the same time frame.

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Central Texas housing market sees another record-breaking 2017 summer selling season

Categories:news

August 2017 Central Texas report provided by the Austin Board of Realtors®.  ABOR has some great articles if you want to visit their site at www.ABOR.com  for more information about all your real needs.

 

Austin Board of REALTORS® releases August 2017 Central Texas Housing Market Report

AUSTIN, Texas – Sept. 19, 2017 – The 2017 Central Texas summer selling season was the strongest on record in terms of single-family home sales and median price across the Austin-Round Rock Metropolitan Statistical Area (MSA). Single-family home sales volume jumped in the city of Austin in August, while median price held steady according to the August 2017 Central Texas Housing Market Report released today by the Austin Board of REALTORS®.

Brandy Guthrie, 2017 President of the Austin Board of REALTORS­®, commented: “The Central Texas housing market just experienced the strongest summer selling season on record. The Austin-Round Rock MSA saw record breaking growth, during which median price topped $300,000 and home sales volume topped $1 billion four consecutive months in a row.”

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