August Austin Housing Market Report

Posted by Realty Austin on August 19th, 2021

Home prices in the Austin-area are no longer increasing as significantly as they were at the beginning of the year. Yet, the month of August set a record with a median home sale price of $470,000.

Home sales decreased 4% in August compared to this time last year indicating the market is calming despite continued gains in sales price. Sales dollar volume increased 18% year over year, and the monthly housing inventory dipped 0.3 months to 1.0 months of inventory compared to August 2020—the highest level of inventory since October 2020.

“August’s housing activity is closer to what we would typically experience in the fall,” says 2021 ABoR President Susan Horton. “Homebuyers, sellers, and renters should work with a REALTOR® who can be a trusted advisor and help them navigate what is still a very complex process.”



Homes are still selling quickly with an average of 14 days on the market. Analysts believe we will continue to have a low inventory of homes that result in rising home prices for the foreseeable future. In this seller’s market, now is the time to list your home if you’re ready for change.

“When there is this much demand, it is difficult for an entire market to be considered overvalued,” says Economist Mark Sprague. “The bottom line is that Austin’s market can be challenging, there are still many opportunities to find the right home and build equity.”

If you’re waiting to buy until the right time, this is probably as cool as Austin is going to get. It’s important to work with an agent who knows this industry and how to negotiate a good deal.