AUSTIN, TX — According to the Austin Board of REALTORS®May 2022 Central Texas Housing Market Report, active listings experienced triple-digit percentage growth year over year and inventory rose to over one month of inventory for the first time in seven months. The data indicates the market is calming as typical seasonality is returning in terms of the number of closings, even as sales dollar volume sustained a positive lift.
Last month across the MSA, residential home sales declined 6.7% year over year to 3,633 closed sales as the median price rose 19.6%, maintaining the all-time record of $550,000 set in April 2022. Sales dollar volume grew 9.0% to $2,482,046,786 while new listings also increased 18.8% to 5,231 listings, and homes spent an average of 15 days on the market, a day less than May 2021. Active listings skyrocketed 146.2% to 4,173 listings, causing housing inventory to