First Look Market Statistics: December Finishes Strong!

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Hello and we hope you’re doing well! We ran first look statistics for the month of December which are available to view in full here. The year finished incredibly strong with total sales down very moderately (and up +8.83% over 2019) and appreciation numbers in the 20-30% range.

Highlights Include:

  • Total Sales are down -8% in the Metro and -13.94% in the City
  • Avg Sold Price in the Metro was the highest of 2021 at $603,999
  • Avg Sold Price in the City was the 3rd highest of the year at $748,241
  • Time to sell was 8 days in the Metro and 10 days in the City
5-County Metro Area 12-2020 12-2021 % Change
Total Sales 3670 3376 -8.01%
Avg Sold Price $485,433 $603,999 24.42%
Median Sold Price $367,000 $475,981 29.70%
Avg Sold $/SF $227.57 $294.37 29.35%
Median Sold Price/SF $185.57 $249.38 34.39%
Median Days on Market 8 8 0.00%
City of Austin 12-2020 12-2021 % Change
Total Sales 1478 1272 -13.94%
Avg Sold Price $632,885 $748,241 18.23%
Median Sold Price $477,251 $570,000 19.43%
Avg Sold $/SF $311.12 $384.90 23.71%
Median Sold Price/SF $269.88 $335.55 24.33%
Median Days on Market 8 10 25.00%
12-2019 12-2021 % Change
5-County Sales 3102 3376 8.83%
Austin Sales 1265 1272 0.55%
What does this mean?

Our biggest professional concern is to determine whether 2022 will be a repeat of 2021, which could only be described as “insane/frantic” or if there will be a return to normal. Right now, it doesn’t look like it will be either. Sold volume is down vs Dec 2020 (the start of the “insanity”) but up vs 2019 (the “normal.”) Our opinion will evolve as we get more data, but we believe that 2022 will be somewhere in between the “normal market” and the “insane/frantic market.”

If You’re a Buyer

The chart above shows that the increase in prices happened almost entirely between January and March last year. This is when buyers enter the market and demand increases. It’s important to remember this when making offers early in the season; we have to predict how much prices will increase and get in front of pricing. A historical look at Austin’s seasonality can be viewed here.

If You’re a Seller

Note the same price trends and incorporate this into your pricing strategy. Selling is tricky because there are repercussions to pricing too high. However, with the right pre-market and multiple offer strategy, you can be very confident that you won’t leave money on the table.

Always bear in mind that real estate is hyperlocal and hyper-situational so please reach out to us if you have questions over your specific market or situation. We’d absolutely love to help!

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Christopher Penaloza

Christopher Penaloza

JC was very helpful during the process of buying my first home. He directed me to lenders that truly had my best interest at heart. I almost made a few bad decisions that JC was there to wave off for me. I truly appreciate JC's responsiveness to ALL of my many questions and his willingness to be a sounding board for my frustrations in the process. I still hear from JC from time to time ensuring that I am happy with my home and letting me know of up and coming business in my area that might affect my property value. I will absolutely be using JC to purchase my next home.
LanceLunsford

LanceLunsford

JC does a great job with attention to detail and ensuring he has answers to your questions as you navigate the process of a home purchase. JC understands the process of the transaction in a home purchase and makes sure the details are covered.
Christopher Dunn

Christopher Dunn

Ruth helped us to view many houses and (over months) to make multiple offers in a really, really tough market for buyers. Our low bids were our own fault! Ruth's guesses are always spot on. We finally had a bid accepted last month, and Ruth helped us re-negotiate after significant problems were discovered. Ruth has gone above and beyond for us, giving us far more time during this long search than we could reasonably have expected. She even helped us look for a rental when we'd basically given up. Her advice has always been immensely valuable and brutally honest. She is the most knowledgeable agent I've met on the Central Austin market. She also handled our stress well, and believe me, buying in Austin right now is stressful!
Jerry Nash

Jerry Nash

Excellent service and follow through. Very professional!