May 2023 Real Estate Stats, Insights & Hot Tips for Buyers & Sellers about offers!

👀 May 2023 Real Estate Stats, Insights & Hot Tips for Buyers & Sellers about offers!
Welcome to my channel! In this video, I'll be discussing the real estate market statistics for May 2023 in Austin, TX and the surrounding areas. As a Realtor with eXp Realty, I'll provide valuable insights and tips for both buyers and sellers. Stay tuned for bonus tips on making offers!Show more

Here are the key points covered in this video:

Year over year changes: We'll analyze the Austin-Round Rock MSA numbers, comparing May 2023 to May 2022.

👉 Median sales price in May 2023: $467,500 (15% lower than the previous year).
👉 Inventory: 3.4 months compared to 1 month in the previous year.
👉 Active listings: Up by 118%, providing more options for buyers.
👉 Pending listings: Despite market changes, the number remains strong and similar.
👉 Average days on the market: Listings stayed for an average of 65 days.
👉 Closed listings: Down by only 4%, with 3,411 closings.
👉 Market stability: The Austin market is not crashing as portrayed by some media outlets.

Month-to-month comparison: We'll compare the numbers between May 2023 and April 2023.

👀 Median sales price: Increased by $795, indicating stability.
👀Average days on the market: Reduced by 6 days, despite 675 additional listings.
👀Pending listings: Only 24 fewer pending sales in May.
👀Months of inventory: Similar to the previous month.
👀Closings: An additional 800 closings occurred in May 2023.
👀Seasonality: Increased activity in real estate is expected during the summer months.
👀Historical comparison: We'll compare the ABOR stats for May 2018, 2019, and 2023, highlighting potential equity growth for homeowners and the advantages of homeownership over renting.

♦️Tips for buyers and sellers: I'll provide useful tips for both buyers and sellers, emphasizing the importance of negotiation power, pricing, market conditions, and the need for professional guidance from a Realtor. ♦️

If you found value in this video, please like and follow my channel. Feel free to reach out with any questions or to schedule a complimentary consultation.

Thank you for watching, and I look forward to assisting you on your real estate journey!
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