According to the Austin Board of Realtors October 2021 Central Texas Housing Report , the Austin-Round Rock MSA housing market remains on track for a record-breaking year, even as the market continues its calming trend. Home sales across the MSA decreased 12.1% to 3,250 closings compared to October 2020 as the median sales price grew 24.7% year over year to $455,000 setting a record for the month of October.
A number of indicators show the Texas housing market frenzy subsiding, but the demand is still strong.
A research economist for the Texas Real Estate Research Center stated that factors such as depressed mortgage rates, more people preferring to buy homes, lessening pandemic effects on homebuyers, federal government transfer payments and the continued suspension of student loan debt payments are keeping demand strong.
The chart above shows the Home Price Index for the major metropolitan areas in Texas. Austin shown in blue) leads the pack ahead of Dallas, Houston and San Antonio in terms of price change averages on single family homes in 2021.
Each county’s appraisal district determines the value of all taxable property within the county.
To save time and money, the appraisal district uses mass appraisal to appraise large numbers of properties. In a mass appraisal, the district first collects detailed descriptions of each taxable property in the district. It then classifies properties according to a variety of factors, such as size, use and construction type. Using data from recent property sales, the district appraises the value of typical properties in each class.
The 2021 ABJ List of residential developments in the Austin area tracks neighborhoods with the most housing starts. The information encompasses the five county Austin area including Travis, Williamson, Hays, Bastrop, and Caldwell counties. The data above tracks one year of new construction activity during 2020.
The graph above shows the median price trend over the past 5 years in all the MLS areas in the Austin Board of Realtors MLS. The MLS encompasses Austin’s five county area including Travis, Williamson, Bastrop, Hays, and Caldwell counties.
Winter is coming; is your house ready? We prepare ourselves for the winter by purchasing warmer clothes or installing snow tires on our vehicles, but many of us don’t think about preparing our homes as well.
