February 2023 Austin Metro Housing Market Update

While the median sales price has come down from this time last year, we are experiencing a very healthy market with lots of options for buyers and strong value for sellers who have owned for at least 2 years.

Well priced homes in excellent condition are often receiving multiple offers or 1 full priced offer the first weekend they’re on the market. Pricing is key. I cannot emphasize this enough!

If you’re a buyer – congratulations, you can actually shop for a home instead of competing for a home! Phew, this is a much friendlier market for buyers than we’ve seen in the past 2.5 years. Yes, interest rates are higher, but they’re on the decline AND we have several programs that can bring your rate down 1-2 points.

Our season of appreciation is January through mid-May every year. Expect more homes to come to market after Spring Break and more buyers to enter the market as well. If you’re a buyer looking for a deal – well, I recommend you wait until June through August. While other buyers have gone on vacation and taken a home-shopping hiatus, you can come in and snag a home for a great deal!