There were 8,878 homes on the market across the Austin metro in June 2022, more than any month in this series so far. The 30-year fixed averaged 5.52% that month, the highest monthly average in this series so far. The median sale was $545,000, up 11.2% year over year.
Austin market statistics, June 2022
| Metric | June 2022 |
|---|---|
| Median sale price | $545,000 (+11.2% YoY) |
| Median price per sq ft | $270 (+14.7% YoY) |
| Homes sold | 3,057 (-17.6% YoY) |
| New listings | 5,300 |
| Active inventory | 8,878 (+86.5% YoY) |
| Months of supply | 2.9 |
| Median days on market | 28 |
| Sale-to-list ratio | 102.6% |
| Sold above asking | 54.4% |
| Listings with a price cut | 36.4% |
| 30-year fixed rate (avg) | 5.52% |
Inventory Doubles Year Over Year
Inventory hit 8,878, up 129% from a year earlier, and the above-list share fell from 68% in April to 54%. Days on market was still only 28, which confused people. Both readings were honest: the good listings still moved fast, and there were suddenly a lot of listings that were not good.
What changed since May 2022
The median fell $15,000 from May 2022, a 2.7% move. Time on market lengthened by 2 days, to 28. Active inventory grew by 2,293 listings, to 8,878. The share of homes selling over asking gave up 11.2 points, to 54.4%.
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
| June 2022 | May 2022 | June 2021 | Since Oct 2016 | |
|---|---|---|---|---|
| Median sale price | $545,000 | $560,000 | $490,000 | range $255,626–$565,000 |
| Median days on market | 28 | 26 | 27 | range 16–58 |
| Active inventory | 8,878 | 6,585 | 4,760 | highest since Oct 2016 |
| Months of supply | 2.9 | 2.1 | 1.3 | range 0.9–3.8 |
| Sold above asking | 54% | 66% | 74% | range 14%–75% |
| 30-year fixed rate | 5.52% | 5.23% | 2.98% | highest since Oct 2016 |
The right-hand column is the range this series has covered since October 2016. No forecast in it, just where June 2022 falls against every month that came before it.
If you are buying in Austin right now
At 2.9 months of supply, sellers still have the edge on the best listings and buyers have real leverage on everything else. The spread between those two groups is where the negotiation lives.
The average sale closed above asking, at 102.6% of list. Offering under list was, statistically, not a strategy that month.
The payment math. At $545,000 with 20% down at 5.52%, principal and interest runs about $2,481 a month. Add roughly $908 for property taxes and $363 for insurance and you are near $3,753 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: 28 median days on market means your first two weeks decide the outcome. Price to the last ninety days of closed comps, not to what your neighbor listed at and did not sell. Condition and photography are doing more work now than they were two years ago.
Neighborhood in focus
UT Area & Bryker Woods (78703 & 78705). West Campus, Bryker Woods, Old West Austin. Known for uT-adjacent investment potential. It fits investors and buyers who want to be in the center of everything.
The metro numbers above are an average of a very unequal city, UT Area & Bryker Woods 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/ut-area-bryker-woods/, including what is wrong with it.
On in Austin, June 2022
| When | What | Why it matters to a listing |
|---|---|---|
| Mid-June | Republic of Texas Biker Rally, Travis County Expo Center, east | Four days. Congress Avenue and the east side carry the traffic and the noise; the effect on showings is loud rather than obstructive. |
| Jun 19 | Juneteenth, East Austin | Parade and celebrations through east Austin, where the holiday has been marked since 1867. Street closures in 78702 and around Rosewood. |
What is coming next
Continued rate increases. The fall market, which is going to look very different from this spring.
Common questions
Is Austin a buyer's market or a seller's market?
In June 2022, a market tilted to sellers, 2.9 months of supply, with 54% of homes selling above asking. The rough convention: under about 3 months favors sellers, 4 to 6 is balanced, and above 6 favors buyers. Since October 2016 this metro has ranged from 0.9 months in December 2020 to 3.8 in January 2019.
What is a MUD district and why does it matter?
A Municipal Utility District is a taxing entity that finances water, sewer and drainage infrastructure in developments outside city utility service: common in Leander, Kyle, Buda, Manor and parts of Pflugerville and Dripping Springs. It levies its own rate on top of city, county and school, and can add a full percentage point or more to your effective tax rate. MUD rates typically decline as the district's debt is paid down, but that takes decades. It is the most common surprise in a suburban Central Texas closing, and it is disclosed, read the MUD notice.
How long are homes taking to sell in Austin?
A median of 28 days in June 2022. That is the number to watch if you only watch one, days on market turns before price does, in both directions. For reference, since October 2016 this measure has ranged from 16 days in May 2016 to 58 in January 2019.
What are the best neighborhoods in Austin for families?
It depends on what you are optimizing for, and anyone who answers without asking is selling you something. Broadly: Circle C, Steiner Ranch and Avery Ranch for space and schools; Mueller, Crestview and Brentwood for walkability with a yard; Westlake and West Lake Hills for Eanes ISD if the budget reaches; Hyde Park and Bryker Woods for older homes near central. There are honest write-ups of nine of these at theaustinlocalgroup.com/neighborhoods, including the parts that are not flattering.
Part of a retrospective series on the Austin market, one post per month since 2016, compiled from the historical record. This edition covers June 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.