February 2023 Central Texas Housing Market Report

March 16, 2023



AUSTIN, Texas — In February, home buyers continued to gain leverage across the Austin-Round Rock MSA as housing inventory increased to 2.6 months according to the Austin Board of REALTORS® latest Central Texas Housing Report. This increase in supply fuels growing confidence in the market from REALTORS® and home builders across Central Texas.

“Austin’s housing market is trending in the right direction. Buyers have more options and negotiating power with each passing month, and sellers have more time to make their next move,” Ashley Jackson, 2023 ABoR president, said. “Remember, a healthy housing market isn’t defined by breaking records every month, but by market activity that’s steady-paced and sustainable.”

Last month, monthly housing inventory increased 2.3 months to 2.6 months of inventory, and homes spent an average of 84 days on the market, up 55 days from February 2022 across the MSA. The median home price fell 12.2% to $436,419 while residential home sales also declined 17.2% year-over-year to 2,106 closed sales and sales dollar volume declined 26.5% to $1,129,639,482. New listings dipped 0.9% year-over-year to 2,764 listings while pending sales dropped 9.5% to 2,465 transactions.

Coming off two unprecedented years for the Austin-Round Rock housing market, Jackson added that month-to-month data is important to help contextualize current figures against an overall trend of market stabilization.

“Looking at the month-to-month data, we see that pending sales are consistent or rising in neighborhoods that are typically more affordable in areas outside Austin city limits. Along with rising inventory, that’s a good sign for housing market activity this spring.”

Taylor Jackson, chief executive officer of the Home Builders Association of Greater Austin, explains that builder confidence is growing and encourages a broader perspective when looking at Austin’s housing market and home building industry.

“With each passing month, homebuilders are gaining more confidence in the stability of our housing market. This is evidenced by fewer cancellations and minimized supply shortages. Additionally, first quarter sales incentives have remained strong and for the first time in a long time, builders have a renewed sense of optimism in the direction the market is heading.”

“Incentives, down payment assistance programs — anything that increases housing accessibility— are very important right now,” added Jackson. “Many buyers remain priced out of the market, especially in Austin proper. There is still plenty of work to do to address systemic issues in affordability, accessibility, and missing middle construction, and those should remain our community’s number one concern.”

Ashley Jackson also placed importance on working with a REALTOR® whether buying, selling or renting a home.

“Work with a REALTOR® who’s experienced in your local area. Equipped with powerful MLS data and boots-on-the-ground expertise, your REALTOR® can give a detailed analysis of market trends in your neighborhood and walk through all available options so that you can buy, sell, or rent with confidence. If you’ve been intimidated by the housing market, now is the time to jump in.”


City of Austin – February 2023

In February, home sales decreased 29.9% to 577 sales, while sales dollar volume decreased 31.9% to $389,252,605. At the same time, median price decreased 6.0% to $530,000 for the City of Austin. Last month, new listings slightly decreased ​​0.8% to 879 listings, active listings skyrocketed 384.5% to 1,778 listings as pending sales declined by 19.7% to 677 pending sales. Monthly housing inventory increased 1.9 months year over year to 2.2 months of inventory.


Travis County– February 2023

In Travis County, home sales decreased 26.5% to 938 sales, while sales dollar volume decreased 31.4% to $596,185,542. Last month, the median price in Travis County slightly dipped 7.0% year over year to $499,990, while new listings increased 5.7% to 1,411 listings and active listings ballooned 464.8% to 3,191 listings year over year. Pending sales declined 16.2% to 1,084 pending sales as monthly housing inventory increased 2.2 months year over year to 2.5 months of inventory.


Williamson County– February 2023

February home sales decreased 15.4% to 726 sales in Williamson County. Sales dollar volume declined 25.5% year over year to $336,341,463. The median price decreased 14.0% to $410,000 as new listings decreased 12.6% to 806 listings. During the same period, active listings soared 645.9% to 2,245 listings while pending sales slightly dropped 6.7% to 833 pending sales. Housing inventory rose 2.1 months to 2.4 months of inventory.


Hays County– February 2023

In Hays County, February home sales increased 3.8% to 301 sales and sales dollar volume dropped 12.9%% to $145,604,710. The median price for homes fell 13.1% to $380,000. During the same period, new listings increased 5.3% to 359 listings, while active listings skyrocketed by 448.8% to 1,136 listings. Pending sales decreased 10.3% to 375 pending sales as housing inventory jumped by 2.6 months to 3.1 months of inventory.


Bastrop County – February 2023

Last month, Bastrop County home sales increased 28.8% year over year to 103 sales, while sales dollar volume also increased by 10.4% to $39,285,549. Median price decreased 20.0% to $349,990 as new listings ticked up 3.6% to 145 listings. Active listings soared 395.8% to 476 listings as pending sales decreased 15.7% to 124 pending sales. Housing inventory increased by 3 months to 3.8 months of inventory, the highest level of inventory across the MSA in February.


Caldwell County– February 2023

In Caldwell County, home sales stayed flat year over year with 38 closed sales, and sales dollar volume slightly dropped 6.2% to $11,806,806. The median home price slightly fell 3.1% year over year to $299,990. At the same time, new listings decreased by 14.0% to 43 listings as active listings skyrocketed 340.7% to 119 listings. Pending sales slightly decreased 5.8% to 49 pending sales, and housing inventory increased 2 months to 2.8 months of inventory.

Austin Housing Market Data Portal


Select Zip code, Inventory Type, Property Type, and Date Range fields to explore Central Texas housing market trends.

(please be patient, there is a large volume of data being queried)


Home Buyer Readiness

You May Also Like…

Austin Adventures Await: Your Ultimate Guide to May 23, 2024!

Austin Adventures Await: Your Ultimate Guide to May 23, 2024!

Dive into the heart of Austin with today’s latest news, including the opening of the new Dell Children’s Hospital and Round Rock’s innovative public library, plus the forecast of our first 100-degree day of the year. Explore what’s happening around town, from Idles at the Moody Amphitheater to the Soul Food Festival, and learn how to claim a mosquito-free backyard with Biogents’ CO2 trap. For those navigating the real estate market, Smart Austin Realty offers invaluable guidance. Click through to ensure you’re in the loop with Austin’s vibrant community events and essential updates.

read more
Construction & Real Estate Update for May 23 2024

Construction & Real Estate Update for May 23 2024

Dive into the heart of Austin’s dynamic real estate and construction scene with our latest update, featuring insights on affordable housing initiatives, eco-friendly projects, and the expanding commercial landscape. Discover how Municipal Utility Districts are revolutionizing Austin’s outskirts and why Central Texas’ small towns are becoming the next big thing. Plus, get the scoop on innovative developments like the Gilleland Creek Greenway and Chewy Vet Care. For those battling backyard mosquitoes, the BG-Mosquitaire CO2 trap offers a scientifically-proven, eco-friendly solution. Click through to read more and explore how Smart Austin Realty can help you navigate this ever-evolving market.

read more
Austin’s Midweek Buzz: Weather, Real Estate, and the City’s Latest Highlights

Austin’s Midweek Buzz: Weather, Real Estate, and the City’s Latest Highlights

Discover why Austin is soaring back to the top of the ‘best places to live’ rankings and how local startup Expressable is revolutionizing speech therapy with a $26M boost. Plus, delve into the city’s vibrant startup ecosystem, celebrate the brilliance of North Austin’s young mathematicians, and learn about the transformative I-35 expansion project. Click to read more about today’s top stories and find out what makes Austin buzz with energy and innovation.

read more
Share This