# Austin Housing Market Report: April 2022, The Month Austin Peaked

> The Austin metro median sale price was $565,000 in April 2022, +18.9% year over year, with homes selling in 25 days and 1.8 months of supply. The Month Austin Peaked, what the numbers mean if you are buying or selling in Austin.

Mike Vilece · May 15, 2022
Canonical page: https://theaustinlocalgroup.com/blog/austin-housing-market-april-2022/

The median single-family home in the Austin metro sold for **$565,000** in April 2022, up 18.9% year over year. Active inventory stood at 5,102 listings, up 27.5% year over year. Closed volume was 2,822 homes, down 8.5% year over year. The 30-year fixed averaged 4.98% that month, the highest monthly average in this series so far. That made it a seller's market.

## Austin market statistics, April 2022

| Metric | April 2022 |
| --- | --- |
| Median sale price | $565,000 (+18.9% YoY) |
| Median price per sq ft | $281 (+23.9% YoY) |
| Homes sold | 2,822 (-8.5% YoY) |
| New listings | 4,079 |
| Active inventory | 5,102 (+27.5% YoY) |
| Months of supply | 1.8 |
| Median days on market | 25 |
| Sale-to-list ratio | 106.2% |
| Sold above asking | 68.0% |
| Listings with a price cut | 12.8% |
| 30-year fixed rate (avg) | 4.98% |

## The Month Austin Peaked

The metro median single-family sale hit $565,000 in April 2022. That is the highest monthly median this market has ever printed. Tesla held its Giga Texas opening on April 7. Mortgage rates crossed 5%. Inventory rose from 3,878 to 5,102 in a single month, which is the tell, supply moved before price did.

## What changed since March 2022

The median rose $34,311 from March 2022, a 6.5% move. Time on market held flat, to 25. Active inventory grew by 1,224 listings, to 5,102. The share of homes selling over asking gained 2.0 points, to 68.0%.

One month is noise. The reason to read it anyway is that direction shows up in inventory and days on market well before it shows up in price, so the months where those two disagree with the headline number are the interesting ones.

## Where this month sits in the cycle

| | April 2022 | March 2022 | April 2021 | Since Oct 2016 |
| --- | --- | --- | --- | --- |
| Median sale price | $565,000 | $530,689 | $475,000 | highest since Oct 2016 |
| Median days on market | 25 | 25 | 24 | range 16–58 |
| Active inventory | 5,102 | 3,878 | 4,002 | range 2,660–7,969 |
| Months of supply | 1.8 | 1.4 | 1.3 | range 0.9–3.8 |
| Sold above asking | 68% | 66% | 75% | range 14%–75% |
| 30-year fixed rate | 4.98% | 4.17% | 3.06% | highest since Oct 2016 |

The right-hand column is the range this series has covered since October 2016. No forecast in it, just where April 2022 falls against every month that came before it.

## If you are buying in Austin right now

1.8 months of supply is a seller's market, but not a chaotic one. Good homes priced correctly move in the first weekend; anything still sitting after three weeks has a reason, and finding out what it is before you offer is the whole job.

The average sale closed **above** asking, at 106.2% of list. Offering under list was, statistically, not a strategy that month.

**The payment math.** At $565,000 with 20% down at 4.98%, principal and interest runs about **$2,421 a month**. Add roughly $942 for property taxes and $377 for insurance and you are near **$3,739 a month** all in. Texas has no state income tax and this is where the state collects instead, budget the tax line from day one, not as an afterthought.

**If you are selling:** you have the leverage, and the mistake available to you is overpricing into it anyway. Homes were selling in 25 days. A listing that sits three weeks in this market has told every agent in town that something is wrong, and you will end up taking less than if you had priced it right on day one.

## Neighborhood in focus

**Crestview & Brentwood (78756 & 78757).** Little Deli, Brentwood Social House, Crestview Station. Known for old-Austin feel, hidden gems. It fits buyers who want a neighborhood that still feels like old Austin.

The metro numbers above are an average of a very unequal city, Crestview & Brentwood does not move in lockstep with Kyle or Leander, and the gap between ZIPs widens in exactly the months the metro looks calm. There is a longer, more honest write-up at [/neighborhoods/crestview-brentwood/](/neighborhoods/crestview-brentwood/), including what is wrong with it.

## On in Austin, April 2022

| When | What | Why it matters to a listing |
| --- | --- | --- |
| Late April | **Austin Food + Wine Festival**, Auditorium Shores | Auditorium Shores and the south shore of Lady Bird Lake close for the weekend. Downtown hotel demand rises but nothing like SXSW. |
| Late March into early April | **Texas Relays**, Mike A. Myers Stadium, UT campus | Campus-area traffic and hotels fill for the weekend. Localised to 78705 and the blocks around San Jacinto. |

## What is coming next

Larger Fed increases through the summer. If you are selling, the market you are pricing against is already behind you.

## Common questions

### Is it a good time to buy a house in Austin?

Depends entirely on your timeline. At 1.8 months of supply you are competing, paying up, and giving up contingencies. If you need to be in a house this year, you buy and you accept the terms. If you can wait, understand that you are paying a premium for urgency.

### How much are property taxes in Austin?

Combined city, county, school district and community college rates in the Austin area generally land between about 1.8% and 2.5% of assessed value, and higher inside a Municipal Utility District, where 3%+ is possible. There is no state income tax in Texas, and property tax is the trade. Two things every buyer should do: file a homestead exemption by April 30 of the year after you close, which caps annual taxable value increases at 10%, and check whether your target address sits in a MUD or PID before you finalize your budget.

### What should I know about flooding before buying in Austin?

Central Texas is Flash Flood Alley: thin soil over limestone, steep terrain, and storms that stall. Austin models its own floodplain, which is often stricter than FEMA's, so a house can sit outside the FEMA 100-year map and inside the city's. Standard homeowners insurance does not cover flood, NFIP policies take 30 days to take effect, and plenty of local flooding happens outside mapped floodplains. Pull both maps and get a flood quote during your option period.

### Are Austin home prices going up or down?

Up 18.9% year over year as of April 2022. Austin's price growth in this period is running well ahead of national averages, which is a function of job growth, not of anything unusual about the houses.

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*Part of a retrospective series on the Austin market, one post per month since 2016, compiled from the historical record. This edition covers April 2022; every figure is as reported for that month, and nothing in it looks past it.*

*Source: Redfin Data Center metro market tracker: single-family, Austin-Round Rock-San Marcos metro, not seasonally adjusted. Mortgage rates are the monthly average of the Freddie Mac Primary Mortgage Market Survey 30-year fixed rate. Payment, tax and insurance figures are estimates for illustration and are not a quote. Median sale price is not a guarantee of value for any specific property.*

*Written by Mike Vilece, a licensed Texas real estate agent with Compass in Austin. If you want the version of this that applies to your street and your budget, [ask me directly](/#contact).*

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