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In northwest Austin, the average price of all properties – including single-family homes, townhouses, and condos – fell to $ 525,000 in September. This is the lowest Northwest Austin home price recorded since March. (Iain Oldman / Community Impact Newspaper)
The average price for all homes in Northwest Austin continued a trend in the real estate market that emerged from blistering summer prices and fell for the third straight month.
The Austin area is experiencing an overall calm in property prices across the subway, according to a property report released October 18 by the Austin Board of Realtors.
“More and more homes are starting to hit the market, as evidenced by the surge in new listings in September, which opens up more options for buyers. While this is a positive step forward, there is still a long way to go before this becomes a balanced market, ”said ABoR President Susan Horton in a press release on October 18th.
In northwest Austin, the average price of all properties – including single-family homes, townhouses, and condos – fell to $ 535,000. This is the lowest Northwest Austin home price recorded since March.
September marked the third straight month that house prices fell across the board in northwest Austin.
With the exception of a month-long slump in May, house prices had risen every month through July that year.
Overall, the median price of all Northwest Austin real estate fell 2.5% from August to September.
The average September average for all single-family homes in Northwest Austin – including new and existing homes – fell to $ 575,000. According to ABoR data, this is a decrease of 3.3% compared to August.
Although home prices continue to fall in the northwest Austin market, home prices remain historically high. ABoR numbers show that the median home price of $ 535,000 in September is 26.2% higher than the median price at the same time last year.
Northwest Austin’s real estate market remains more expensive than the citywide real estate market, the new real estate report shows. According to ABoR, the median price of all real estate in the city of Austin was $ 525,000 in September, which is $ 10,000 cheaper than the brand in northwest Austin.
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https://communityimpact.com/austin/northwest-austin/data-reference/2021/10/21/homes-prices-across-northwest-austin-fall-for-third-straight-month/
