AUSTIN – Nearly 4,400 homes hit the local market in March, a 6.6 percent increase from last year, according to the latest housing report from the Austin Board of Realtors (ABoR).
Pending and completed home sales decreased by about 19 and 25 percent, respectively, but both new and active listings spiked.
Home prices continue to drop in all five Central Texas counties. Median home prices fell the most in Bastrop County, by 17.5 percent, to $329,990. Active listings skyrocketed in all counties, with completed sales increasing slightly in Hays and Bastrop Counties. Home sales decreased in Travis, Williamson, and Caldwell Counties.
“Austin’s housing market is still demand driven, contributing over $1.5 billion to our region’s economy last month even as the pace of home sales and price growth adjusts from the extreme anomaly of the last two years,” said ABoR Housing Economist Dr. Clare Losey in a press release. “The increase of new listings in March, specifically month over month, indicates rising seller confidence, and the recent decline in mortgage rates provided momentum for homebuyers.”