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City of Austin home prices hit record $640,000

Home prices in the Austin area continued to climb in April 2022, according to the latest monthly report from the Austin Board of Realtors.

In April 2022, home prices increased by double digits in the City of Austin, Travis County and all counties in the Austin-Round Rock metropolitan area.

The median home price in the metro area jumped to $550,000 last month, up 19.6% year-over-year. In the city of Austin, the median home price hit $640,000, up 16.3% from last April, while the median home price in Travis County soared to $620,000, up 16.8% from a year ago.

These numbers represent new all-time highs for the housing market. Currently, only Caldwell County, at $365,000, has a median price below $400,000.

Sales of residential homes in Metro Austin fell slightly last month, down 6.2%, but as prices rose, Metro’s dollar sales volume still rose 11.6% year over year to reach $2,231,215,686.

The report notes that active listings increased by more than 50% that month, resulting in the largest increase in housing inventory market since the summer of 2017. Still, the local housing market counts less than a month of inventory (up to 0.8 months vs. 0.3 months). ).

“We are far from having a good number of homes for sale in our market, so any increase in the housing stock, no matter how small, is a welcome sign for people looking to buy,” the president said. ‘ABOR, Cord Shiflet, in a statement. “Our area continues to be really impacted by companies targeting the Austin area for job creation and expansion, and this workforce relocation needs a place to live. Austin continues to be a demand-driven market.”