Stats show that the market was steady in July, which surprisingly can be a sluggish month. Most areas saw a slight decline in the number of sales (year over year), however, median home prices have continued to rise showing a 5% increase since July of last year making the median sales price in the Austin Metro in July $326,000. Both pending contracts and overall volume (1.4 Billion) were up significantly in July. Home inventory levels were down slightly to 2.9 months of inventory, which could be the reason for fewer homes selling. Low inventory levels were likely the reason for lower the lower number of units sales.
Pending sales are up! That's really what tells the tale of the tape. Our agents are ready to help you market your home for sale in this competitive market, and can help you hunt down that perfect property as well.