Austin TX Single Family homes Activity July2 compared to October 23:
Active 7504/6565 (-939); Under Contract 3896/3078 (-818); Closed (8 weeks) 4128/3373 (-775)
You can see clearly how the market is trending. Some of this is due to normal seasonal trends. The important item to watch is the declining available homes and the ratio of available to closed. We are currently at 3.9 month supply of inventory while in July we were at 3.6 months supply. Markets are considered "balanced" between buyers & sellers at +-5 months supply.
As always I must remind you that every neighborhood has it's own dynamic. For an analysis of your neighborhood contact me directly.
Bill
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