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What a year! 2021 was a record-setting year in Austin Real Estate and for the Oldham Group. Thank you for your trust and referrals. Here’s the forecast for Austin in 2002.
Austin’s housing market is booming. The market reflects what is happening in other major cities across the country. While activity appears to have slowed slightly in recent months, Austin’s residential real estate market remains extremely hot, with prices increasing significantly over the last year. Austin real estate remains a seller’s market, owing to low interest rates, strong in-migration, a rapidly recovering local economy. In November, the Austin housing market continued its record-breaking pace.
Despite a calming trend, it is still on track for a record-breaking year. While home sales in the Austin-Round Rock metro area fell 4 percent, the median sales price increased 29 percent year over year to $470,000, setting a new November record. A lack of supply is lagging strong demand, causing home prices to rise. While inventory remains low, we can attribute this to the Austin market’s high demand and the churn of new homes listed and sold in less than three weeks (22 days) in the majority of cases. MORE
If you want to dive deep into the numbers, I’ve included this incredible 2022 Economic Forecast Presentation from our friends at Key Title. The analysis covers unemployment rates, interest rates, housing starts, wages, population, and other key performance drivers and how they impact the Austin real estate market.
Off Market | Westlake
4BD | 4 BA | 3530 Sq Ft | Pool
Circle C Ranch | 11501 Walpole Ln
3028 SF | 4 BD I 2.5 BA | $850,000
Cherry Creek | 9364 Bernoulli
1627 SF | 3 BD | 2 BA | $450,000
Hill Country Lot | Sunset Canyon
2.2 AC | Multiple Offers
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The information contained herein does not purport to be complete nor, necessarily, accurate and should be independently verified; nor does it represent or constitute a legal analysis or financial advice. All of the financial projections and/or conclusions are provided for illustration purposes only. Compass and its agents disclaim any and all liability for representations and warranties, express or implied, contained in, or for omissions from, the information contained herein or any other written or oral communication transmitted or made available to the recipient. This represents an estimated sale price for this property. It is not the same as an opinion of value in an appraisal developed by a licensed appraiser under the Uniform Standards of Professional Appraisal Practice.