February 2024 Austin Real Estate Market Update
Summary
In this market update, David Shapiro and Lee Abraham discuss the current state of the real estate market in Austin. They highlight the decrease in active listings and the low inventory of quality homes available. The pending sales indicate a high demand and a low housing inventory, leading to a competitive market for buyers. The number of sales and average sale price have seen fluctuations, but overall, the market is improving. The suburbs also show positive trends with an increase in new listings and a consistent sales price list price ratio. The hosts anticipate further improvement in the market and encourage buyers and sellers to take advantage of the current conditions.
Takeaways
The Austin real estate market is experiencing a decrease in active listings and a low inventory of quality homes.
Pending sales indicate high demand and a competitive market for buyers.
The number of sales and average sale price have seen fluctuations, but overall, the market is improving.
The suburbs show positive trends with an increase in new listings and a consistent sales price list price ratio.
Chapters
00:00
Introduction and Market Overview
00:29
Number of Active Listings
00:53
Pending Sales and Housing Inventory
02:07
Buyer Activity and Quality Listings
03:08
Number of Sales and Average Sale Price
05:11
Days to Sell and New Listings
06:07
Sale Price List Price Ratio
07:20
Inventory Barometer and Mortgage Rates
09:22
Suburban Market Overview
10:06
Number of Sales and Average Sale Price in Suburbs
11:31
Days on Market and New Listings in Suburbs
12:27
Summary and Future Outlook
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David Shapiro, Austin Realtor | Lee Abraham, Austin Realtor | eXp Realty
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