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Inside Austin Housing - What You Need to Know
Paige DeChausse
Paige DeChausse is a dynamic force in both the music and real estate industries, bringing her expertise and passion to each endeavor...
Paige DeChausse is a dynamic force in both the music and real estate industries, bringing her expertise and passion to each endeavor...
If you're considering selling or purchasing a home, it's crucial to have a thorough understanding of the current trends and conditions in the Austin market.
In May 2024, the Austin-Round Rock-Georgetown MSA experienced a 12.8% decline in closed residential listings, totaling 2,968 sales, while active listings increased by 37.7% year-over-year. This significant rise in inventory, now at 4.9 months, provides buyers with more options and leverage in the market.
The Austin housing market reflects a balanced yet challenging environment with increased inventory and stable prices. This dynamic allows buyers more choices but requires careful consideration due to higher interest rates. Working with knowledgeable real estate professionals can help navigate these complexities, ensuring informed decisions and successful transactions.
$1.76 Billion total sales
Total Sales Dollar Volume up by 14.5%
5,243
New Listings
12,211
Active Listings
2,966
Pending
2,968
Closed Sales
““This data demonstrates that buyers can continue to be more selective when searching for a home in their price range. Although it may appear to be a buyer's market from the outside, it’s important to understand the context behind these statistics, including higher interest rates resulting in a reduction in purchasing power. This market does not offer a clear advantage to either buyers or sellers.”
- Dr. Clare Losey (ph. D housing economist)
$592,385
AVG Sales Price
53
Days on Market
$271
Price Per Sqft
4.6
Months of Supply
Homes Sold
95.5%
Sale-to-List Price
county by county breakdown
Travis County:
- Sales: 1,308 homes sold, an 18.8% decrease.
- Median Price: $555,000, a 4.7% increase.
- Active Listings: 6,276, up by 46.9%.
- Total Dollar Volume: $965.01 million, down by 17.6%.
Williamson County:
- Sales: 1,000 homes sold, an 11.3% decrease.
- Median Price: $435,000, a 0.5% decrease.
- Active Listings: 3,375, up by 34.8%.
- Total Dollar Volume: $490.78 million, down by 12.9%.
Hays County:
- Sales: 466 homes sold, a 2.4% increase.
- Median Price: $389,850, a 2.5% decrease.
- Active Listings: 1,800, up by 27.2%.
- Total Dollar Volume: $239.75 million, up by 8.6%.
Bastrop County:
- Sales: 138 homes sold, a 9.8% decrease.
- Median Price: $349,995, a 5.4% decrease.
- Active Listings: 633, up by 15.7%.
- Total Dollar Volume: $53.91 million, down by 17.0%.
Caldwell County:
- Sales: 56 homes sold, unchanged.
- Median Price: $281,990, a 4.9% decrease.
- Active Listings: 128, down by 0.8%.
- Total Dollar Volume: $17.25 million, down by 8.9%.