We recently visited Northern Arizona and Southern Utah to include Monument Valley, Bryce Canyon National Park and the North and South Rims of the Grand Canyon. What a great whirlwind trip to rewind and get back for what is turning into a good summer selling season. Check out our Facebook profiles to learn more about our trips itinerary.

MSA housing inventory reaches highest level in 13 years

In May, the Austin-Round Rock-Georgetown MSA saw a 12.8% decline in closed listings with 4.9 months of available inventory, a level that hasn’t been seen in 13 years according to the latest Central Texas Housing Report released by Unlock MLS. Meanwhile, active listings ticked up 37.7% year-over-year. Because of this increase in available options, buyers have the power to be more selective when purchasing a home.

The biggest change we have seen over the past several weeks is that sellers are finally jumping into the market. Keep in mind, when mortgage rates do go down, coupled with todays more reasonable pricing and incredible pent up demand, we expect to get busy. Most of the sellers entering the market will become buyers as soon as they contract.

Recent economic data is pointing to the Fed lowering the bank rate in the near future due to declines in inflationary pressures. And, like we've been saying for too long now, healthy inflation and lower bank rates will create lower mortgage rates.

In all of our decades in real estate sales, we have never seen such complex buy / sell / or wait scenarios, but can assure you of a thorough analysis and honest answer when you contact us.

Austin Round-Rock-Georgetown MSA

• 2,968 – Residential homes sold, 12.8% less than May 2023.
• $459,450 – Median price for residential homes, 0.4% less than May 2023.
• 5,243 – New home listings on the market, 16.3% more than May 2023.
• 12,211 – Active home listings on the market, 37.7% more than May 2023.
• 2,966 – Pending sales, 2.5% less than May 2023.
• 4.9 – Months of inventory, 1.5 months more than May 2023.
• $1,766,711,612 – Total dollar volume of homes sold, 13.4% less than May 2023.
• 95.5% – Average close to list price, compared to 94.2% in May 2023.

City of Austin

• 1,038 – Residential homes sold, 2.4% more than May 2023.
• $608,438 – Median price for residential homes, 11.6% more than May 2023.
• 2,021 – New home listings on the market, 40.3% more than May 2023.
• 4,740 – Active home listings on the market, 85.3% more than May 2023.
• 973 – Pending sales, 6.3% more than May 2023.
• 6.2 – Months of inventory, 2.7 months more than May 2023.
• $818,966,999 – Total dollar volume of homes sold, 14.5% more than May 2023.
• 95.3% – Average close to list price, flat to May 2023.

Travis County

• 1,308 – Residential homes sold, 18.8% less than May 2023.
• $555,000 – Median price for residential homes, 4.7% more than May 2023.
• 2,611 – New home listings on the market, 16.3% more than May 2023.
• 6,276 – Active home listings on the market, 46.9% more than May 2023.
• 1,310 – Pending sales, 9.5% less than May 2023.
• 5.6 – Months of inventory, 2.0 months more than May 2023.
• $965,012,284 – Total dollar volume of homes sold, 17.6% less than May 2023.
• 95.1% – Average close to list price, compared to 94.5% in May 2023.

Williamson County

• 1,000 – Residential homes sold, 11.3% less than May 2023.
• $435,000 – Median price for residential homes, 0.5% less than May 2023.
• 1,622 – New home listings on the market, 17.7% more than May 2023.
• 3,375 – Active home listings on the market, 34.8% more than May 2023.
• 1,007 – Pending sales, 1.4% less than May 2023.
• 3.9 – Months of inventory, 1.2 months more than May 2023.
• $490,783,958 – Total dollar volume of homes sold, 12.9% less than May 2023.
• 96.3% – Average close to list price, compared to 93.9% in May 2023.

Hays County

• 466 – Residential homes sold, 2.4% more than May 2023.
• $389,850 – Median price for residential homes, 2.5% less than May 2023.
• 733 – New home listings on the market, 21.4% more than May 2023.
• 1,800 – Active home listings on the market, 27.2% more than May 2023.
• 464 – Pending sales, 17.8% more than May 2023.
• 4.9 – Months of inventory, 1.1 months more than May 2023.
• $239,753,087 – Total dollar volume of homes sold, 8.6% more than May 2023.
• 94.8% – Average close to list price, compared to 93.6% in May 2023.

Bastrop County

• 138 – Residential homes sold, 9.8% less than May 2023.
• $349,995 – Median price for residential homes, 5.4% less than May 2023.
• 216 – New home listings on the market, 1.4% less than May 2023.
• 633 – Active home listings on the market, 15.7% more than May 2023.
• 116 – Pending sales, 8.7% less than May 2023.
• 5.5 – Months of inventory, 1.0 more than May 2023.
• $53,914,874 – Total dollar volume of homes sold, 17.0% less than May 2023.
• 95.2% – Average close to list price, compared to 93.6% in May 2023.

Caldwell County

• 56 – Residential homes sold, flat to May 2023.
• $281,990 – Median price for residential homes, 4.9% less than May 2023.
• 61 – New home listings on the market, flat to May 2023.
• 128 – Active home listings on the market, 0.8% less than May 2023.
• 69 – Pending sales, 35.3% more than May 2023.
• 3.0 – Months of inventory, 0.1 months less than May 2023.
• $17,247,409 – Total dollar volume of homes sold, 8.9% less than May 2023.
• 97.0% – Average close to list price, compared to 96.0% in May 2023.

Burnet County

• Closed Sales - 80, down 8.1% from May 2023
• Median Sales Price - $391,720 - down 6.7% YOY
• Ratio to Original List Price - up 4.9% YOY
• Days on Market - 65 - down 15.6% YOY
• New Listings - 174 - up 38.1% from May 2023
• Under Contract - 96 - up 24.7% YOY
• Active Listings - 668 - way up by 61.4% YOY
• Months of Inventory - 10.5 - up 74.7% YOY

We have been in the real estate business for over 35 years each and still honored every time we receive a personal referral, or a testimonial like this one. Taylor and her family have become friends and Jon even goes to Taylor for his hair cuts. She is an Owner and Stylist at Hart St. Studio in Georgetown.

Taylor Harned

Google Reviews

2 months ago

Jon and CJ are amazing! I’ve lost count of how many houses they’ve helped my parents buy but they have helped me with both of mine and I can’t say enough good things. Especially when I bought my first home they were so patient and knowledgeable !

Response from the owner 2 months ago"

Taylor, we have also lost track of how many times we have been lucky enough to represent someone in your family through a home purchase or sale. I'll never forget the first time your Dad called me from an advertisement in the paper, (pre internet) we immediately connected, and CJ and I have been grateful for the relationships that developed with all of you ever sense

Update from the owner 1 month ago

Taylor just referred a friend who is moving back to the area too; and for the fun of it I searched our records to find we helped her family members buy or sell 11 times over the decades.

Our Listings!

Nicely Remodeled Home in Villages of Berry Creek

Hurry this one won't last long! The layout is spacious and the home is stunning inside and out. The covered back porch provides the perfect outdoor living space to include a hot tub that conveys. Extra backyard privacy is created by the retention pond behind the property, and the breeze and trees keep it cool. The level of landscaping is extraordinary and helps deliver that extra sizzle that really makes this home stand out. Some features include 3 sides rock exterior, privacy fence, recent shingles and foundation repair with lifetime warranty, new HVAC in January 2022 with REMI Halo air filter, convenient office area in master bedroom, stained concrete driveway, fresh interior paint, irrigation system, wood burning fireplace, and epoxy sealed garage floor. The community pool is literally a few houses down the street and the neighborhood is quiet, but close to all things great in Georgetown.

View the tour at www.7614BuckMeadow.Info. Listed at $385,000

Beautiful Home in Gabriel's Overlook with Backyard Oasis!

Welcome to a stunning home with a complete private backyard outdoor resort experience on a large corner lot in Gabriel's Overlook.

Exterior design elements utilizing stucco and stone accentuate the theme of the improvements. Enter the living area to view a dramatic stone fireplace, stained concrete flooring, and view of the back yard retreat. The highly functional gourmet kitchen acts as a central hub connection of the living spaces. Enjoy a formal dining room, the more casual breakfast nook or the bar seats at the center island for a variety of indoor dining experiences. The large owner's suite features an exquisite bath area with Bella tub and a walk through shower, and the secondary bedrooms are spacious.

Interior features also include customized California Closets in the kitchen pantry and owner's suite. Pet shower stall in laundry room, granite countertops, intricate tile and stone work. The 3 car side entry garage is perfect for your vehicles and a project.

The complete private backyard outdoor resort experience features a large heated in ground pool with hot tub, sun deck with fantastic waterfall and fire features. Several seating areas include the spacious covered pavilion with fireplace and grill, separate covered porch, open patio and quarter moon stone bench with dining area. Exterior features include complete privacy fencing, irrigation system, an underground propane tank and a storage building in the far back yard. Gabriel's Overlook is a gated community developed on classic rolling Texas Hill Country bordering the South San Gabriel River to include a HOA park with river access. The location between Leander, Liberty Hill and Georgetown provides easy access to main commuting, shopping, dining and entertainment.

View the tour at www.100OakPlaza.Info Listed at $787,000.

The Perfect Place to Build Your Lake House On Lake LBJ.

Property Information at: www.Lot3-940EuelMoore.Info

Recently Listed for Sale - Lot 3-940 Euel Moore, Kingsland, Texas 78639 -- This is a rare waterfront lot in Kingsland on gorgeous LBJ, a constant level lake. Kingsland has an HEB, many restaurants and is where the Llano and Colorado Rivers converge, providing spectacular natural scenery as well as big water all the way down to Horseshoe Bay and Wirtz Dam. Head up the Llano towards The Slab for sandy beaches and granite rock outcroppings, explore the Colorado and its' summer camp vibe or find a cove or join the party at a sand island. Dock for food and beverages at Wakepoint LBJ or Boat Town Burger Bar from your future lake house. Big features include 4 completed boat slips with 4 locking storage units and power, creating the perfect place, architectural designs and building plans for a 2400 sq. ft. home. HOA fees are for driveway and channel maintenance. The canal was recently dredged and the lot is approximately 100 yards to open water. Not Builder Restricted. - Listed at $399,000.

Please remember if you have any questions about purchasing or selling real estate either now or in the future, call us to discuss your plans and we can help you with your plan.

Jon & C. J. Pfau

If anyone you know might need help with buying or selling or just want to get monthly information for real estate, our link to our newsletter is below. Send it to friends and family. We won't bother anyone but we will give them monthly updates on the market for their own knowledge.

Pfau & Company News Letter Sign Up Here.

Our Business is delivering Exceptional Realty Service -

far exceeding expectations,

grateful to give our best.

Jon: 512-635-0232

C.J.: 512-415-0583

Email: Pfaucorealtors@aol.com