Austin housing market experiences record high inventory levels, according to ABoR
The Austin housing market has reached its highest level of inventory in over eight years, with four months of inventory available, according to the Austin Board of Realtors (ABoR). However, closed sales have dropped by 18.2% year over year, attributed to higher mortgage rates impacting prices. While the increased supply is positive, it is not necessarily affordable for first-time homebuyers or those seeking more affordable homes. Average prices vary across counties, with Travis County commanding the highest at $525,000 and Caldwell County being the most affordable at under $300,000. ABoR advises buyers and sellers to strategize with their realtors and make intentional preparations for a better housing market experience.