Analyzing the Austin Area Real Estate Market: Inventory Trends and Market Conditions Across 30 Cities The Austin area real estate market offers a wide range of opportunities for buyers, sellers, and investors. Looking at the current data <a href="https://teamprice.com/type-of-market-city">Austin Area Type of Market</a> for 30 cities reveals a clear picture of market conditions, broken down by months of inventory, median home prices, and active listings. Understanding these details is key to making smart decisions in a market that’s always changing. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220115520.png" alt="" width="" height="" style=""></figure></div> A city’s inventory level is a reliable indicator of market conditions. Less than 4.9 months of inventory means a seller's market. Between 5 and 6.9 months is a neutral market, where supply and demand are balanced. Anything over 7 months signals a buyer’s market. According to the latest data, 16 of the 30 cities in the Austin area are in a seller’s market, making up 53% of the total. Seven cities fall into the neutral market category, representing 23%, and another seven cities are buyer’s markets, also at 23%. Austin, the largest city in the region, currently has 3,188 active listings. The average home price is $984,208, with a median price of $599,000. With 4.24 months of inventory, Austin is in a seller’s market. Homes here typically stay on the market for a median of 84 days. Nearby Georgetown shows a similar trend. It has 860 active listings, an average price of $571,176, and a median price of $510,000. Georgetown’s inventory level is 3.24 months, which also puts it in the seller’s market category. Homes in Georgetown spend a median of 80 days on the market. Other cities like Buda and Hutto also reflect strong seller’s market conditions. Buda has 243 active listings, a median home price of $384,000, and 3.52 months of inventory. Hutto has 205 active listings, a median price of $398,941, and just 3.2 months of inventory. These numbers show healthy demand and limited supply, making it a competitive market for buyers. On the flip side, some cities favor buyers because of higher inventory levels. Burnet, for example, has 115 active listings and 10.45 months of inventory. The average home price in Burnet is $772,121, with a median of $529,500. Dale is another buyer’s market with 11 months of inventory, 45 active listings, and a median price of $385,000. In these cities, buyers have more choices and better leverage when negotiating. Neutral markets offer a balance between buyers and sellers. Lakeway, for instance, has 101 active listings, a median price of $799,972, and 5.41 months of inventory. San Marcos shows similar conditions with 372 active listings, a median price of $399,018, and 5 months of inventory. These cities provide opportunities for both buyers and sellers to strike fair deals. Cities like Cedar Park and Pflugerville highlight interesting price trends. Cedar Park has 129 active listings, an average price of $600,356, and a median price of $509,900. With just 2.14 months of inventory, Cedar Park is a strong seller’s market. Pflugerville’s market is also competitive, with 305 active listings, a median price of $431,019, and 2.91 months of inventory. The days on market data gives even more insight. In Jarrell, homes typically stay on the market for 58 days, with inventory at 3.17 months. In Kyle, homes stay on the market for 79 days, with 3.29 months of inventory. In contrast, homes in Driftwood stay on the market longer, with a median of 106 days and 6 months of inventory. Spicewood also sees longer wait times, with homes staying on the market for 121 days and inventory levels at 10.27 months. Price adjustments are happening in several cities. Marble Falls, for example, has seen average prices drop by 11.2%. Manchaca’s prices fell by 6.3%. On the other hand, Spicewood saw price increases of up to 15.7%. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220115541.png" alt="" width="" height="" style=""></figure></div> The Austin area real estate market is diverse, with different conditions offering opportunities for various types of buyers and sellers. Knowing the inventory levels, median prices, and market conditions can help you navigate this dynamic landscape. Staying informed about these trends is essential for making smart real estate decisions in the Austin area.&nbsp; <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220115601.png" alt="" width="" height="" style=""></figure></div>

Austin area real estate trends with detailed insights into inventory levels, median prices, and market conditions across 30 cities. Discover where buyers and sellers have the advantage in this comprehensive market analysis

Austin Area Real Estate Market Analysis: Top 30 Cities by Inventory and Prices

Analyzing Year-Over-Year Changes in Active Real Estate Listings for 2024 In 2024, the real estate market in the Austin area has shown significant fluctuations in the <a href="https://teamprice.com/active-residential-listings">number of active listings</a> compared to the previous year. This data-driven analysis provides a detailed look at the percentage changes in <a href="https://teamprice.com/active-residential-listings">active listings year over year</a> (YoY) for each day from March through December. These insights can help buyers, sellers, and agents understand market activity trends and make informed decisions. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220111626.png" alt="" width="" height="" style=""></figure></div> In early March 2024, active listings were up by approximately 13% compared to the same period in 2023. For instance, on March 4th, the year-over-year percentage increase stood at 13.07%. The trend gradually rose to 14.41% by March 6th, and by March 15th, it reached 16.31%. The end of March saw even higher increases, peaking at 18.76% on March 28th. This indicates a steady rise in available homes for sale during the first quarter. April continued the upward trend with notable growth. On April 5th, active listings increased by 21.01% YoY. By mid-April, the market saw jumps of over 25%, reaching 27.97% on April 19th. Toward the end of the month, on April 26th, active listings saw a substantial 31.44% increase compared to 2023. These figures suggest that more sellers were putting their homes on the market as the spring season progressed, a common pattern in real estate markets. May 2024 recorded some of the highest year-over-year changes. On May 3rd, active listings were up by 32.55%, and by May 10th, they surged to 33.90%. These numbers reflect increased seller confidence and possibly slower buyer demand, leading to higher inventory levels. By the end of May, the percentage change remained strong, with a 31.90% increase on May 31st. June showed a slight decline compared to May, but active listings remained well above 2023 levels. The highest YoY change in June was 30.69% on June 14th. By June 28th, the percentage change was 30.54%. These consistent increases suggest that the market was holding steady with more properties available compared to the previous year. July maintained a similar pattern, with year-over-year changes hovering between 28% and 32%. On July 4th, active listings increased by 32.37%. However, by the end of the month, the percentage change dipped slightly to 28.93% on July 29th. This indicates a possible seasonal slowdown in listings toward the end of summer. In August, the YoY increase in active listings began to decline. On August 2nd, the market saw a 27.10% increase, and by August 19th, it fell to 25.18%. The downward trend continued into September, with percentage changes dropping below 20% by the end of the month. For example, on September 30th, active listings were up only by 20.29% compared to the previous year. These declines may reflect seasonal trends or a shift in market dynamics, with fewer new listings coming on the market. October saw continued declines, with active listings showing a 17.06% YoY increase on October 7th. By October 31st, the increase was down to 15.84%. The trend of declining YoY percentage changes persisted through November and December. On December 2nd, active listings showed an 11.78% increase compared to 2023, reflecting a significant slowdown in new listings as the year closed. This detailed data on year-over-year changes in active listings highlights how the real estate market in 2024 has been more favorable for buyers, with higher inventory levels throughout much of the year. Understanding these trends helps buyers, sellers, and agents navigate the market and make informed decisions based on current conditions.&nbsp;

Discover how Austin's real estate market performed in 2024 with a detailed analysis of year-over-year percentage changes in active listings. Track daily trends from March to December and gain valuable insights for buyers, sellers, and agents

Austin Real Estate Trends 2024: Year-Over-Year Active Listings Analysis

Austin Real Estate Market Update: Shifting Back to a Seller's Market November 09, 2024 : The Austin real estate market is showing significant signs of change as the latest data reveals a dip in the <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory (MOI)</a> to 4.96. This shift marks a return to a seller's market, highlighting a balance tipped in favor of sellers after a period of higher inventory levels throughout much of 2023 and early 2024. The Months of Inventory is a crucial metric in real estate that measures how long it would take to sell all active listings at the current sales pace, and a figure below 5 months typically indicates strong demand, favoring sellers. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241109015305.png" alt="" width="" height="" style=""></figure></div> Over the past two decades, Austin's real estate market has experienced various cycles, from the stability of the mid-2000s to the turbulence of the financial crisis, and the booming seller's market during the pandemic years. Historically, the Austin area has seen MOI fluctuate based on broader economic trends, local housing demand, and changing interest rates. For context, during the financial crisis in 2009-2011, the MOI surged to levels as high as 8.6 months, reflecting a sharp drop in buyer demand and a significant increase in available listings. In stark contrast, the pandemic-driven market of 2020-2021 recorded some of the lowest inventory levels in history, with MOI dropping to as low as 0.7 months, driven by a surge in buyer demand and limited new listings.​The current MOI of 4.96 suggests a market dynamic where demand is rising again, possibly due to more stable interest rates and a rebound in buyer confidence. This figure signals a shift back from the neutral and buyer-leaning market conditions observed earlier this year, where MOI was often above 5 months. The recent decline below the 5-month threshold suggests a tightening market where sellers have more leverage, and properties are moving at a quicker pace.​In November 2024, the Austin area has 14,136 active residential listings, indicating a robust level of inventory compared to the peak crisis levels of 2010 but still below the highs of the past year. Despite the elevated inventory, the declining MOI points to increased absorption rates, which means that more buyers are entering the market, and properties are being sold at a faster rate. This change is significant because a higher absorption rate usually correlates with a decrease in the number of days properties spend on the market, often resulting in upward pressure on prices. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241109015449.png" alt="" width="" height="" style=""></figure></div>​The analysis of the market data from 2005 to 2024 reveals several key trends. From 2005 to 2008, the market was relatively stable, with MOI hovering around 4-5 months, which is consistent with a balanced market where supply and demand are nearly equal. However, the economic downturn in 2008 led to a sharp increase in inventory levels, peaking in mid-2010 at 8.6 months. This represented a strong buyer’s market, where the number of available homes far exceeded the demand, giving buyers considerable negotiating power.​Following the recovery period from 2012 onwards, the Austin market experienced a gradual tightening. From 2012 to 2019, the MOI consistently stayed below 5 months, marking a prolonged seller’s market as the local economy strengthened and demand outpaced supply. This trend was further exacerbated during the COVID-19 pandemic, when record-low interest rates and heightened demand led to an unprecedented reduction in inventory, with MOI figures consistently below 2 months.​In 2023 and early 2024, there was a noticeable shift, with inventory levels rising and the market moving toward a neutral stance. However, as of November 2024, the MOI’s drop to 4.96 indicates a resurgence of buyer activity. This suggests that buyers are adjusting to the current mortgage rates, and many are capitalizing on the relative affordability improvements compared to the price peaks seen during the height of the pandemic boom.​The market's current conditions align with trends seen in 2013-2014, where MOI hovered around 4-5 months, indicating a slightly seller-favored environment. Unlike that period, however, the macroeconomic landscape today includes higher interest rates, which have been a major factor affecting affordability and buyer sentiment. Despite these challenges, the sustained demand and strong absorption rates reflect a resilient housing market supported by ongoing in-migration, strong employment figures, and a robust local economy in Austin. Looking ahead, the months of November and December often see seasonal slowdowns, but if the current trend of declining MOI persists, it may point to stronger underlying demand heading into early 2025. The ongoing absorption of inventory, coupled with stable demand, could result in increased competition among buyers, especially if the Federal Reserve signals any potential adjustments to interest rates. The upcoming months will be critical to observe as these factors play out, shaping the market dynamics for the new year. Overall, the latest data shows that the Austin real estate market is making a notable shift back towards a seller’s market. The MOI at 4.96 indicates strong buyer activity and a tightening of supply, which could lead to stabilizing or even rising home prices in the near future. This change, while subtle, may signal the beginning of a new phase in the Austin housing market cycle.&nbsp;

The latest Austin real estate market update reveals a shift back to a seller’s market, with Months of Inventory (MOI) dropping to 4.96 in November 2024. Active residential listings remain steady at 14,136, while increased absorption rates highlight rising buyer demand. Discover how these trends may impact home prices and the Austin housing market moving into 2025.

Austin Real Estate Market Update: Seller’s Market Returns as Inventory Falls in November 2024

Understanding the Real Estate Market: New Listing to Pending Ratio and Active Listings July 13, 2024 : The real estate market is a dynamic and ever-changing environment that can be challenging to navigate. One way to gain insights into the market's health is by examining the <a href="https://teamprice.com/new-listing-to-pending-ratio">New Listing to Pending Ratio</a> and the number of active listings. This ratio, created by Team Price Real Estate, compares the number of new listings (including those that come back on the market) to the number of pending sales (active under contract and pending). It serves as a valuable tool for understanding whether the market is in equilibrium, favoring buyers, or favoring sellers. A ratio of 1.00 indicates a balanced market where the number of new listings equals the number of properties being sold. For example, if 1,000 new listings come onto the market and 1,000 are absorbed, the ratio is 1.00. If the ratio falls below 1.00, it means fewer homes are being sold than are listed, leading to an increase in inventory. Conversely, a ratio above 1.00 indicates a higher rate of sales compared to new listings, resulting in a decrease in active inventory. The data provided from 2005 to 2024 highlights various market conditions. In 2007, the <a href="https://teamprice.com/new-listing-to-pending-ratio">New Listing to Pending Ratio</a> reached its peak at 1.26 in April and May, showing a super-hot market where homes were selling faster than new ones were being listed. In contrast, 2001 experienced the lowest ratio at 0.45 in September, indicating a cold market with rapidly increasing inventory. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240713052603.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="new listing to pending ratio.png" data-file-size="393707" data-origin="," style=""></figure></div> Examining the number of active listings alongside the ratio offers additional insights. For instance, in 2008, the market faced significant challenges due to the financial crisis. Despite having a high number of active listings, with a peak of 13,384 in June, the New Listing to Pending Ratio dropped to 0.50 in October. This indicates that the market was struggling to absorb the available inventory, leading to a buildup of unsold homes. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240713052734.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="active listings.png" data-file-size="117731" data-origin="," style=""></figure></div> In recent years, the data reflects the impact of the COVID-19 pandemic on the real estate market. In 2021, the number of active listings in January was the lowest in the dataset at 2,842, and February was similar at 2,703. During this time, the New Listing to Pending Ratio remained above 1.00 for most of the year, reflecting a strong demand for homes driven by low-interest rates and changing housing preferences. By 2022, the market began to cool down, with the ratio dropping as low as 0.58 in June, indicating increasing inventory levels as market conditions stabilized. Seasonal trends are also evident in the data. Generally, the number of active listings tends to rise during the spring and summer months, peaking around June or July, and then decreases towards the end of the year. The New Listing to Pending Ratio often mirrors this seasonality, with higher values in the spring and summer when market activity is typically at its highest. Long-term trends indicate a gradual shift towards a seller's market. From 2011 to 2021, the ratios generally increased, while the number of active listings decreased. This trend is particularly noticeable in 2021, with the sharp drop in active listings and consistently high ratios, signifying strong market absorption and high demand. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240713052943.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="moi.png" data-file-size="222916" data-origin="," style=""></figure></div> July 2024: Recent Trends and Forecasts :&nbsp;As of July 2024, the real estate market is experiencing significant changes due to a recent increase in interest rates. The Federal Reserve's benchmark rate has been stable at 5.33% since the beginning of the year. <a href="https://teamprice.com/30-year-fixed-mortgage-rate">Mortgage rates</a> have also seen fluctuations, with the 30-year fixed mortgage rate averaging around 6.89% in early July 2024. These higher interest rates have impacted affordability, making it more challenging for potential buyers to enter the market. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240713052838.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="rates.png" data-file-size="103661" data-origin="," style=""></figure></div> Despite the increase in interest rates, more listings are entering the market. This influx is partly due to sellers trying to capitalize on the still relatively high property values before potential further rate hikes. The <a href="https://teamprice.com/active-residential-listings">number of active listings</a> in July 2024 is 15,682, a significant increase from the same month in previous years. The New Listing to Pending Ratio for July is 0.54, indicating that while more properties are coming onto the market, the absorption rate is slightly lagging, leading to a modest buildup in inventory. Forecasts :&nbsp;Looking ahead, the market is expected to remain somewhat volatile. The <a href="https://teamprice.com/30-year-fixed-mortgage-rate">higher interest rates</a> are likely to continue impacting affordability, potentially dampening buyer demand. However, if rates stabilize or decrease slightly towards the end of the year, as some forecasts suggest, we might see a rebound in buyer activity. The <a href="https://teamprice.com/new-listing-to-pending-ratio">New Listing to Pending Ratio</a> is expected to hover around the current levels, with minor fluctuations reflecting the seasonal trends and economic conditions. Overall, understanding the New Listing to Pending Ratio and active listings data can help real estate professionals, buyers, sellers, and investors make informed decisions. This ratio serves as a real-time indicator of market conditions, reflecting periods of equilibrium, overheated markets, and slowdowns. By analyzing these trends, stakeholders can anticipate market changes, strategically plan their actions, and navigate the complex real estate landscape more effectively.​

July 13, 2024 : Discover how the New Listing to Pending Ratio and active listings data reveal real estate market trends. Learn how this key metric can help you understand market conditions, anticipate changes, and make informed decisions in the real estate industry

Understanding the Real Estate Market with New Listing to Pending Ratio

Austin Real Estate Market Sees Record Highs in Active Listings and Inventory June 21, 2024 : The Austin real estate market has experienced significant changes, reaching record highs in active residential listings and months of inventory. As of June 21, 2024, active residential listings have reached an unprecedented 15,137, representing a 5.96% increase month-over-month and a substantial 28.7% rise year-over-year. This is the highest number of active listings ever recorded, surpassing the previous high of 15,035 on June 14, 2024, by 102 listings. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240622022318.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="active.png" data-file-size="88830" data-origin="," style=""></figure></div> A detailed comparison of the current year to the previous year reveals notable differences in the market dynamics. In 2023, the number of active listings was 11,760, which means the 2024 figure shows a remarkable increase of 28.7%. On the other hand, pending listings have seen a decline. In 2023, there were 5,245 pending listings, whereas in 2024, the number has decreased to 4,883, a drop of 6.9%. This shift indicates a cooling in the market’s absorption rate. The activity index, which measures the percentage of properties under contract out of the total available, provides further insight into market trends. The activity index has fallen from 31.6% in 2023 to 24.4% in 2024, showing a significant decrease of 22.7%. This metric is a leading indicator of market absorption, highlighting the percentage of properties going under contract out of the total available. A lower activity index suggests a slower pace of property sales relative to the number of active listings. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240622022357.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="activity.png" data-file-size="112031" data-origin="," style=""></figure></div> Another critical metric, months of inventory, has also reached a new high. In 2024, the months of inventory stand at 5.31, compared to 4.04 in 2023, marking a 31.6% increase. This indicates a slower turnover of homes, suggesting that properties are remaining on the market for longer periods before being sold. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240622022441.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="moi.png" data-file-size="69518" data-origin="," style=""></figure></div> The current market conditions also reveal significant price adjustments and occupancy trends. Out of all active listings, 52.1% have experienced price drops, and 44.2% of pending listings have had price reductions before going under contract. Additionally, 57.2% of all active listings are currently vacant, reflecting changes in property occupancy dynamics. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240622022530.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="price drop.png" data-file-size="194835" data-origin="," style=""></figure></div> When breaking down the types of listings, resale homes constitute the majority with 9,714 properties, accounting for 64.2% of the total active listings. New construction follows with 2,359 homes, making up 15.6% of the market. Other categories include updated or remodeled homes, which represent 5.9% of the market, and properties under construction, which account for 10.7%. Geographical distribution shows variations in market activity across different cities within the Austin area. For instance, Austin itself has 4,796 active listings, with 54.6% experiencing price drops. In contrast, Lakeway has 164 active listings, with a notable 68.9% having undergone price reductions. Other areas like Leander and Georgetown also show significant levels of price adjustments, with 58.6% and 56.1% of listings experiencing price drops, respectively. The overall increase in active listings and months of inventory, coupled with the decrease in pending listings and activity index, suggests a shifting market landscape. These changes highlight the importance of monitoring market trends and adapting strategies to navigate the evolving real estate environment in Austin.​ This article is based on data published on June 21, 2024. <a href="https://teamprice.com/insight-and-statistics">Austin Real estate statistics</a> are constantly evolving. For the most current data and analysis, please refer to the following resources, updated weekly: <a href="https://teamprice.com/active-residential-listings">Latest Active Residential Listings in the Austin-Area</a>

June 21, 2024 : Latest trends in the Austin real estate market as active residential listings and months of inventory reach record highs in 2024. Explore detailed market data, including price adjustments, occupancy rates, and geographical distribution, providing a comprehensive analysis of the current housing market dynamics.

Austin Real Estate Market Trends: Active Listings and Inventory Surge

June 14, 2024 : Austin-Area MLS Active Listings Cross 15,000 for the First Time The Austin-Area real estate market is witnessing a significant change as the number of <a href="https://teamprice.com/active-residential-listings">active residential listings</a> has crossed the 15,000 mark for the first time. This milestone, reached in mid-June 2024, reflects a substantial increase in available properties compared to previous years. In 2022, the active listings began modestly at 2,031 in early April and saw a steady rise, peaking at 10,874 by early September. This year-over-year growth continued in 2023, where listings started at 9,134 in early January and climbed to 12,188 by late August. However, 2024 has seen even more dramatic growth. Listings began at 9,707 in early January and soared to 15,035 by mid-June, marking a significant 30% increase compared to the same period in 2023. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240615034506.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="active history.png" data-file-size="85974" data-origin="," style=""></figure></div> The monthly growth trends over these years illustrate the dynamic nature of the <a href="https://teamprice.com/">Austin-Area real estate</a> market. In 2022, active listings grew rapidly from 2,031 in early April to 6,551 by mid-June. In 2023, the market saw a steadier increase, with listings rising from approximately 9,700 in early April to around 11,500 by mid-June. This year, the growth has been even more pronounced, with listings increasing from 11,880 in early April to over 15,000 by mid-June. Daily changes in active listings for 2024 further highlight the market's dynamism. For example, on May 10, there was a notable increase of 423 listings. Similar spikes were observed on May 24, with an increase of 159 listings, and on June 14, with a jump of 256 listings, which helped the market reach the 15,000 milestone. This rise in listings is complemented by changes in other key metrics. The months of inventory, which indicates how long it would take to sell the current inventory at the existing sales pace if no new listings were added, has increased to 5.26 months by mid-June 2024. This is a significant rise from previous years, suggesting a shift towards a more balanced or buyer-friendly market. Pending listings, which represent properties under contract but not yet sold, have shown a decrease compared to the previous year. By June 14, 2024, pending listings were down by 9.3% year-over-year. This decline indicates a slower pace of transactions, likely due to the increased inventory and more choices available to buyers. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240615034534.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="active vs pending.png" data-file-size="94465" data-origin="," style=""></figure></div> Comparing data from previous years provides additional insights. In 2022, the market experienced rapid growth from April to June, with active listings nearly tripling from 2,031 to 6,551. The trend continued in 2023, albeit at a steadier pace, with listings growing from 9,134 in January to 11,760 by mid-June. In 2024, the growth has been much sharper, with listings starting at 9,707 in January and reaching 15,035 by mid-June. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240615034550.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="active 2024 vs 2023.png" data-file-size="88214" data-origin="," style=""></figure></div> The current market dynamics indicate that the <a href="https://teamprice.com/">Austin-Area real estate market</a> is evolving. Buyers now have more options, which could lead to longer selling times and potentially more competitive pricing strategies from sellers. Real estate agents need to stay informed about these trends to provide accurate advice and adjust their marketing strategies accordingly. In conclusion, the crossing of the 15,000 active listings mark in the Austin-Area MLS is a significant milestone. This growth reflects broader market trends and suggests a shift towards a more balanced market. Understanding these changes is crucial for all stakeholders in the real estate industry, from buyers and sellers to agents and brokers.&nbsp; This article is based on data published on June 14, 2024. <a href="https://teamprice.com/insight-and-statistics">Real estate statistics</a> are constantly evolving. For the most current data and analysis, please refer to the following resources, updated weekly: <a href="https://teamprice.com/active-residential-listings">Latest Active Residential Listings in the Austin-Area</a>

June 14, 2024 : Explore the significant growth in the Austin-Area real estate market as active MLS listings surpass 15,000 for the first time. Discover detailed data insights and market trends from 2022 to 2024, highlighting the dynamic changes and implications for buyers, sellers, and real estate professionals.

Austin-Area Real Estate: Active Listings Surpass 15,000

The pace at which homes are being listed and remain on the market can greatly vary from city to city. This article provides a detailed look at the cities where active homes are either quickly moving towards sale or lingering on the market, using recent data to offer insights into local market dynamics. <a href="https://teamprice.com/areas/cedar-park">Cedar Park</a> and <a href="https://teamprice.com/areas/hutto">Hutto</a>emerge as areas where active homes are listed for the shortest durations, with median days on the market at 27 days for both cities. Despite a significant number of homes listed (145 in <a href="https://teamprice.com/areas/cedar-park">Cedar Park</a> and 159 in <a href="https://teamprice.com/areas/hutto">Hutto</a>), these areas have some of the lowest months of inventory figures, at 2.25 and 1.63 months respectively. This suggests a robust demand in these markets, where homes are priced at an average of $637,498 in <a href="https://teamprice.com/areas/cedar-park">Cedar Park</a> and $531,988 in <a href="https://teamprice.com/areas/hutto">Hutto</a>, with median prices at $540,000 and $449,900 respectively. Conversely, <a href="https://teamprice.com/areas/spicewood">Spicewood</a> and <a href="https://teamprice.com/areas/lago-vista">Lago Vista</a> are the locales where active homes tend to stay on the market the longest. <a href="https://teamprice.com/areas/spicewood">Spicewood</a> homes average 54.5 days on the market and have the highest months of inventory at 11 months. Here, homes are listed at an average price of $1,290,007 and a median of $976,500. <a href="https://teamprice.com/areas/lago-vista">Lago Vista</a> follows closely, with homes averaging 56 days on the market and 8.59 months of inventory, with an average list price of $690,505 and a median price of $535,000. These contrasting statistics across different cities indicate diverse buyer interests and market conditions, reflecting how local economic factors, community features, and pricing strategies can influence the liquidity of real estate markets. This comprehensive data serves as a valuable resource for stakeholders to gauge where the market stands and predict future trends.

Discover the intricacies of the Austin-area real estate market with a focused analysis on how long homes stay active before selling. Look into which cities see quick market movements and where homes linger, providing key insights into pricing and inventory levels for potential buyers and sellers.

Active Home Listings in Austin: Fast-Moving Markets vs. Slow Markets

In the dynamic landscape of Austin's real estate market, the latest data presents insightful trends for stakeholders. As of today, the total active listings in the Austin area stand at 11,399, with a subtle daily decrease of 20 listings. However, when viewed through a broader lens, the weekly and monthly changes reveal a different narrative. The inventory has seen an increase of 86 listings over the past week and a significant jump of 971 listings over the past month, translating to a monthly growth rate of 9.31%. This upward trend is further underscored by the yearly change, which showcases a notable increase of 17.37% in active listings compared to the same period last year. The pending sales, representing properties under contract that have yet to close, are currently at 4,863. This figure is crucial for understanding the market's momentum and buyer activity. The Activity Index, calculated as a percentage of active listings that are pending, stands at 29.90%, providing a gauge of the market's vibrancy and the pace at which properties are moving from listing to under contract status. One of the most telling metrics in real estate market analysis is the Months of Inventory (MOI), which measures the balance between supply and demand by estimating how long the current inventory of homes would last at the current sales pace if no new listings were added. The current MOI for the Austin area is 3.97 months. This metric is pivotal for understanding market conditions from the perspective of buyers and sellers: Sellers' Market: Traditionally, an MOI of less than 4.9 months (or 147 days) indicates a sellers' market, where demand outstrips supply, often leading to faster sales and upward pressure on prices. The current MOI places the Austin real estate market firmly in this category, suggesting that sellers have the upper hand in negotiations and may benefit from shorter listing durations and potentially higher selling prices. Neutral Market: An MOI between 5 and 6.9 months (150 to 207 days) is considered balanced, where the supply and demand for homes are about equal. This equilibrium ensures neither buyers nor sellers have a distinct advantage, leading to more predictable pricing and timelines for transactions. Buyers' Market: An MOI above 7 months (210 days or more) signifies a buyers' market, characterized by a surplus of inventory relative to demand. Buyers in such a market may find more room to negotiate on price and terms, benefitting from a wider selection of properties and less competition. In conclusion, the current metrics reflect a robust sellers' market in the Austin area, with an inventory turnover that supports seller advantage due to limited supply relative to demand. The notable monthly and yearly increases in inventory, however, suggest a gradually shifting landscape that could balance the market over time. Stakeholders, including sellers, buyers, and real estate professionals, should closely monitor these trends for strategic decision-making in this vibrant and evolving market. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240402083944.png" alt="" data-rotate="" data-proportion="true" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="image.png" data-file-size="284474" data-origin="," style=""></figure></div>

Explore the latest trends in the Austin real estate market as of April 2, 2024. Get insights on active listings, pending sales, inventory changes, and what they mean for buyers and sellers in Austin

Austin Real Estate Market Snapshot: Trends and Insights for April 2, 2024

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