Austin Market Not Slowing Down

fmarquez | July 16, 2022, 7:34 p.m.

We hear much about real estate crashing due to the rising interest rates and the possible recesion. While still early, the Austin real estate market is still looking strong. By looking at the average days homes are staying in the market, I am able to see houses are still 'flying'. The neighborhoods that stood up to me are Central, Downtown and East Austin. Homes in these neighborhoods continue to sell fast with no sign of a slowdown. On the other hand we have North Austin. This area seems to be slowing down. The correlation between date and days in market is 0.3. This correlation number is much stronger than the other neighborhoods, and although not a reason to panic, it should require a closer examination of the area to identify why.

Is asking price changing?

Although it might be early, there is still no clear trend indicating decreasing asking prices. North Austin homes are getting more expensive, which may be a factor for why those properties are not selling as fast. This is all for now, stay tuned for more analysis