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October Austin Housing Report: Inventory Growth & Buyer Opportunities
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...
Market Shifts: Increased Listings and Balanced Inventory = Opportunity for Buyers and Sellers
In October, the Austin-Round Rock-San Marcos area saw a 9.3% increase in active listings, totaling 11,599 properties and boosting the region's inventory to 5.1 months, according to Unlock MLS’s Central Texas Housing Report. The close-to-list price ratio, steady at 92.7%, reflects a market offering more options for buyers facing high-interest rates, while sellers retain some room to negotiate.
Unlock MLS housing economist, Clare Losey, Ph.D., points to mortgage rates—averaging 6.4% in October—as a leading influence on home sales. With rates expected to hold in the low to mid-6% range into 2025, both buyers and sellers face a shifting dynamic: buyers need to seize opportunities within their budget, while sellers are urged to adopt competitive pricing strategies.
Kent Redding, 2024 president of Unlock MLS and ABoR, addressed the region’s gradual return to balanced market conditions, calling attention to the benefits of a healthier inventory. The Central Texas market, once a leader in rapid growth, is adjusting from pandemic-era extremes. Redding affirms that while Central Texas remains a prime destination for families and businesses, this correction is paving the way for sustainable growth and lasting investment opportunities.
$1.27 Billion total sales
Down 1%
3,333
New Listings
11,599
Active Listings
2,344
Pending
2,248
Closed Sales
$429,500
Median Price
72
Days on Market
$256
Price Per Sqft
4.4
Months of Inventory
"“News headlines that characterize the Central Texas housing market as ‘ground zero’ are an extreme over-exaggeration. It’s important to remember where we’ve come from. Austin led the state and nation in record-breaking home price growth and sales activity during the pandemic. For three years, near-zero housing inventory, numerous offers above list price and a rapid-paced market raised home prices and left little negotiating power for buyers. During this record-setting growth, ABoR and Unlock MLS consistently emphasized the unsustainability of the rapid growth, and now, our market is working to balance those extremes.”
-Kent Redding, Austin Board of Realtors® 2024 President
homes sold
92.6%
Sale-to-List Price
What's happening outside of austin?
In Williamson and Hays counties, active listings and months of inventory increased, providing buyers with more choices, while sales dipped slightly from last month. Bastrop County saw a modest rise in home sales and inventory, while Caldwell County experienced a significant drop in sales and prices, despite increased listings. Overall, these counties are adjusting to a more balanced market, with varying impacts on pricing and inventory levels.
For a more detailed breakdown of the market in each of these regions, take a look at the graphics below.