For the past 24 months, home sellers across the nation have benefited from a red-hot seller's market and large inflation of housing prices. Now, various regions of the country are beginning to see a little regression to the norm, with the Austin area housing market following that trend as well. However, experts still say that the area is a seller's market, even if home sales did slow down for the month of September. 

In September, home sales in the Austin area decreased 5.1% compared to September 2020. Even so, the median sales price of homes in the area reached $450,000, setting a record for September. 

As home prices continue to soar, increasing access and affordability is a priority for the Austin Board of Realtors, who have much to gain from Austin becoming a more affordable, attractive location for homebuyers. 

Susan Horton, 2021 ABoR President, said: “The Austin housing market remains strong and competitive. However, more homes are beginning to hit the market evidenced by the increase in new listings in September, which is creating a greater number of opportunities for buyers. While this is a positive step forward, there is a long way to go for this to be a balanced market. Realtors continue to ensure their clients’ needs are being met despite inventory remaining low.”

Median home price in Austin has risen 28% compared to a year ago in September. Other counties across Texas are experiencing similar as Texas remains a popular destination for those relocating for work.