Austin-Area Real Estate Market Report: Trends in the Top 30 Cities November 21, 2024 : The real estate market in the Austin area continues to showcase a diverse range of opportunities for buyers and sellers alike. With the latest analysis of 30 cities, we see a spectrum of market conditions shaped by inventory levels, pricing trends, and demand patterns. Understanding these dynamics can help buyers, sellers, and investors navigate their decisions effectively. The cities analyzed are classified into three categories based on months of inventory: seller's markets, neutral markets, and buyer's markets. A seller’s market occurs when there is less than 4.9 months of inventory, signaling strong demand relative to supply. Neutral markets, with 5 to 6.9 months of inventory, represent a balance between buyers and sellers, while buyer’s markets, exceeding 7 months of inventory, indicate an oversupply of homes. Among the 30 cities in the Austin area, 40% are seller’s markets, 33% are neutral, and 27% are buyer’s markets, illustrating a varied landscape of real estate activity. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241121021044.png" alt="" width="" height="" style=""></figure></div> Austin, the region's flagship city, represents a neutral market with 5.04 months of inventory. The median home price stands at $599,000, and properties spend an average of 76 days on the market. Austin’s inventory and pricing balance make it an appealing market for both buyers seeking opportunities and sellers looking for competitive offers. <a href="https://teamprice.com/cities/georgetown-tx">Georgetown</a>, with 3.68 months of inventory, leans toward a seller’s market. This city sees a median home price of $515,000 and homes averaging 75 days on the market, reflecting steady demand. In contrast, cities like <a href="https://teamprice.com/cities/burnet-tx">Burnet</a> and <a href="https://teamprice.com/cities/spicewood-tx">Spicewood</a> experience slower market activity, categorizing them as buyer’s markets. Burnet has 11 months of inventory, a median price of $599,000, and properties lingering on the market for an average of 82 days. Similarly, Spicewood, with 11 months of inventory and a median price of $899,000, offers abundant options for buyers seeking more luxurious properties at potentially negotiable prices. Affordability plays a key role in driving market dynamics. For instance, <a href="https://teamprice.com/cities/jarrell-tx">Jarrell</a>, with a median price of $299,000, sees a brisker pace of sales, boasting just 2.87 months of inventory. Hutto, another affordable option, offers homes with a median price of $397,000 and maintains only 2.80 months of inventory. Both cities highlight the heightened activity in the lower price brackets, where demand often outpaces supply. Luxury markets such as <a href="https://teamprice.com/cities/driftwood-tx">Driftwood</a> and <a href="https://teamprice.com/cities/dripping-springs-tx">Dripping Springs</a> tell a different story. Driftwood’s median home price stands at $1.3 million, with 7.31 months of inventory reflecting a buyer’s market. Dripping Springs, though more balanced with 5.44 months of inventory, also caters to high-end buyers with a median price of $773,859. These areas demonstrate the slower turnover typically associated with higher price points. Price adjustments are another critical metric to evaluate market conditions. Several cities in the <a href="https://teamprice.com/cities/austin-tx">Austin</a> area have seen reductions in active listing prices to stimulate buyer interest. For example, <a href="https://teamprice.com/cities/lago-vista-tx">Lago Vista</a> reports an average price drop of 7.8%, equating to $75,000, while <a href="https://teamprice.com/cities/liberty-hill-tx">Liberty Hill</a> properties average an 8.3% reduction, or $60,000. Conversely, in competitive markets like <a href="https://teamprice.com/cities/Pflugerville-tx">Pflugerville</a>, price increases remain modest, with adjustments hovering around 3%. Median days on market also offer insights into transaction speed across different areas. <a href="https://teamprice.com/cities/buda-tx">Buda</a>, with just 64 days on the market, showcases its appeal to buyers, likely due to its combination of affordability and proximity to Austin. Similarly, <a href="https://teamprice.com/cities/Del-Valle-tx">Del Valle</a> sees homes selling within 68 days on average, bolstered by a median price of $369,990. On the other hand, markets like <a href="https://teamprice.com/cities/Wimberley-tx">Wimberley</a>, with 109 days, and Spicewood, with 122 days, reflect longer cycles, typical of higher-end and rural areas. Another layer of complexity emerges when comparing inventory levels with the average and median prices. Cities such as Pflugerville and <a href="https://teamprice.com/cities/Round-Rock-tx">Round Rock</a>, with 3.05 and 3.90 months of inventory respectively, have median home prices of $425,000 and $444,815. These cities represent strong opportunities for buyers and sellers alike, benefiting from stable pricing and lower-than-average inventory. The data also reveals an interesting distribution of active listings across price brackets. Cities like <a href="https://teamprice.com/cities/Cedar-Park-tx">Cedar Park</a> and <a href="https://teamprice.com/cities/Leander-tx">Leander</a>, with median prices of $550,000 and $542,865 respectively, showcase mid-tier market dynamics, attracting buyers who seek value near Austin. Meanwhile, Lockhart, with just 2.32 months of inventory and a median price of $334,950, offers affordable entry points for first-time buyers or investors. Overall, the Austin area’s real estate market presents a complex yet navigable environment. While cities like Austin and Georgetown maintain balanced conditions, places like Hutto and Jarrell emerge as hotspots for sellers. Meanwhile, buyers find leverage in markets like Burnet and Spicewood, where inventory levels remain high. By understanding the interplay between pricing, inventory, and demand, stakeholders can make informed decisions that align with their real estate goals.&nbsp;

Explore the latest real estate trends across 30 cities in the Austin area. Discover market conditions, pricing insights, and inventory levels to guide your buying or selling decisions

Austin-Area Real Estate Trends: Top 30 Cities Analysis

Austin's Top Appreciating Zip Code in 2024: A Closer Look at 78730 In the ever-changing Austin real estate market, the <a href="https://teamprice.com/data-analysis/78730">78730 zip code</a> has emerged as the best-performing area in terms of year-over-year appreciation. According to the latest data, the 78730 area has demonstrated remarkable growth, particularly when comparing the median sold price from last year to this year. This impressive performance highlights the continued strength of the 78730 market despite broader economic challenges faced by the Austin area. The annual compound growth rate for the <a href="https://teamprice.com/data-analysis/78730">78730 zip code</a> from 1999 to 2024 stands at 3.49%, reflecting steady and consistent long-term growth. However, what sets this area apart is the recent surge in the median sold price, making it the standout zip code in Austin for 2024. In 2023, the median sold price in 78730 was $995,000, showing a slight decline from previous highs. However, 2024 brought a strong recovery, with the median sold price jumping to $1,175,000, marking an impressive 18% increase compared to the previous year. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241111123841.png" alt="" width="" height="" style=""></figure></div> The historical data for 78730 reveals notable fluctuations and growth patterns that tell a broader story about this market's resilience. In the early 2000s, the area experienced rapid price increases, including a significant spike between 1999 and 2000, where the median sold price rose by 30%. This was followed by a period of market corrections in the mid-2000s, aligning with the nationwide housing downturn during the financial crisis. From 2007 to 2009, the area saw a sharp drop in both average and median sold prices, reflecting the broader economic recession. Despite these setbacks, the 78730 zip code rebounded strongly in the 2010s. The market showed consistent growth year after year, with a notable surge between 2013 and 2015. The average sold price climbed from $615,182 in 2013 to $657,770 in 2015, while the median sold price increased by 14% during the same period. This steady appreciation continued into the late 2010s, setting the stage for the dramatic gains seen during the COVID-19 pandemic. The impact of the pandemic on the Austin real estate market was profound, and the 78730 area was no exception. In 2020 and 2021, the zip code saw its largest gains in over a decade. The average sold price jumped by 22% in 2020, followed by a staggering 32% increase in 2021. During this time, median prices also soared, reaching a high of $975,000 in 2021. These figures underscore the surge in demand for homes in desirable, suburban areas like 78730, as buyers sought more space and quality amenities. However, 2022 brought a shift in the market. Rising interest rates and broader economic concerns led to a cooling of the real estate frenzy. The average sold price in 78730 fell by 4%, while the median sold price still managed a modest increase of 5%, showing that while demand softened, it remained relatively strong in this sought-after area. The following year, 2023, saw further declines in both average and median sold prices, reflecting the ongoing market adjustments and a return to more balanced conditions. The strong rebound in 2024 highlights the underlying demand and desirability of the 78730 area. This year, the median sold price climbed back up to $1,175,000, an 18% increase from the previous year, signaling renewed buyer confidence and likely reduced inventory levels. The growth in 2024 positions 78730 as the best-appreciating zip code in Austin, attracting both investors and homebuyers looking for long-term value in the market. Beyond the numbers, the 78730 zip code offers a lifestyle that draws residents year after year. The area includes some of Austin’s most desirable neighborhoods and subdivisions, such as <a href="https://teamprice.com/subdivisions/river-place">River Place</a>, Long Canyon, Westminster Glen, Shepherd Mountain, and Glenlake Estates. These communities feature a mix of luxury homes, spacious lots, and scenic views of the Texas Hill Country. Residents enjoy close proximity to outdoor attractions like Emma Long Metropolitan Park, which offers miles of hiking trails, waterfront activities along Lake Austin, and picnic areas perfect for family outings. Another unique aspect of the 78730 zip code is its easy access to major roadways like RM 2222 and Loop 360, providing convenient commutes to downtown Austin and the Domain. The area is also known for its top-rated schools, making it a popular choice for families. The natural beauty, combined with upscale amenities and excellent connectivity, makes 78730 one of the most sought-after and appreciated zip codes in the city. In summary, the 78730 zip code has shown remarkable resilience and consistent growth over the past two decades, with significant appreciation, particularly in 2024. This data-driven analysis highlights the market's ups and downs but ultimately shows a strong upward trend. Buyers and investors looking at the Austin real estate market would be wise to consider the 78730 area, which continues to demonstrate its strength and potential for future appreciation.&nbsp;

Explore why Austin’s 78730 zip code stands out as the top appreciating area in 2024. Detailed analysis of home prices, neighborhood amenities, and historical trends make 78730 a must-watch market for buyers and investors

78730: Austin’s Top Appreciating Zip Code in 2024

Austin to Miami: Freddie Mac’s 2024 Home Price Insights Across U.S. Cities November 01, 2024 : The <a href="https://teamprice.com/freddie-mac-house-price-index">Freddie Mac House Price Index (FMHPI)</a> is a crucial tool for understanding housing market trends in the United States. This comprehensive report offers an in-depth look at home price changes across various metro areas, allowing both buyers and sellers to gain valuable insights into the current state of the real estate market. Using data up to September 2024, the FMHPI provides a clear view of how home prices have fluctuated from different starting points, including January 2020, January 2021, and September 2022. In analyzing these figures, trends emerge across cities that highlight both significant growth in some regions and marked declines in others. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241101110538.png" alt="" width="" height="" style=""></figure></div> One of the most notable areas featured in the FMHPI report is Austin, Texas, which saw a substantial peak-to-present decline in home values of -14.7%, with its peak in May 2022. This downturn highlights a broader trend in many cities where the overheated markets of the past few years have begun to stabilize or decline. Austin's significant decline is reflective of an overall adjustment seen in cities where housing demand surged rapidly during the pandemic, and as conditions have normalized, prices have started to correct. San Francisco, Portland, and Denver also reported declines from their peak values, with decreases of -3.5%, -4.0%, and -4.2%, respectively. These figures underscore the effects of economic normalization after rapid price surges in high-demand areas. However, not all metro areas experienced similar declines. The report highlights several regions where prices have continued to climb, reflecting strong local demand. For instance, Miami, Florida, and Tampa, Florida, experienced notable increases since January 2020, with Miami’s home prices surging by 74.5% and Tampa’s by 70.6%. These cities have benefited from steady demand due to favorable factors, including strong migration trends and comparatively affordable real estate markets. Charlotte, North Carolina, and Providence, Rhode Island, followed closely with price increases of 66.8% and 64.6% since January 2020, respectively. These cities illustrate that while some markets are cooling, others continue to attract homebuyers, contributing to significant long-term price growth. Additionally, year-over-year data from the FMHPI shows varied performance among metro areas, indicating that the real estate market is far from uniform. Cities such as Providence, New York, and Cleveland maintained positive year-over-year growth, showing increases of around 7.4%. These metro areas have continued to attract steady interest, and this demand has helped sustain price growth in these regions. Conversely, Austin experienced a slight year-over-year decline of -0.9%, reflecting the continued correction within its market. Other cities with similar patterns include San Francisco and Denver, where local conditions have tempered recent home price gains. Monthly data from the FMHPI reveals further fluctuations. Some cities demonstrated modest month-over-month increases, including Cleveland and Detroit, with growth rates nearing 0.9%. Other cities, such as Austin and Tampa, saw slight month-over-month declines, continuing their respective cooling trends. The monthly data points serve as a useful indicator for buyers and sellers interested in the latest developments, as this information can be helpful when determining optimal timing for real estate decisions. The FMHPI report also emphasizes the broader trend of metro areas experiencing a decrease from their peak values. A total of 91.41% of the 384 cities measured in the report have seen a decline from their highest price levels, with an average decrease of -1.6%. These declines, however, vary widely depending on the specific city, with each market showing its unique trajectory. Many areas reached their peak values between the second quarter of 2022 and the present day, reflecting a shift in the housing market as it moves into a phase of adjustment and potential stability. The FMHPI data highlights this trend, showing that while markets have generally cooled from their peaks, conditions differ considerably by region. The Freddie Mac House Price Index provides a reliable view of the state of housing across the United States. By examining home prices in a wide range of metro areas, from Austin to Miami, it becomes clear that the market is experiencing both growth and correction, depending on local conditions. The data reveals key insights for anyone interested in real estate, offering a valuable resource for understanding current trends and making informed decisions. With a mix of rising prices in some areas and cooling trends in others, the FMHPI is an essential tool for navigating today’s housing market​

Discover Freddie Mac’s House Price Index (FMHPI) 2024 report with detailed analysis of U.S. housing market trends. See how cities like Austin and Miami are performing, with data on home price changes since 2020. Learn about year-over-year changes and monthly fluctuations to help guide informed real estate decisions

Freddie Mac House Price Index 2024: U.S. Housing Market Trends Analyzed

Austin Home Prices Up Year-Over-Year: October 2024 Market Insights In October 2024, the Austin real estate market has demonstrated notable resilience, achieving an average sold price of $579,330, a 5.5% increase from September 2024, and a 3.5% rise compared to October 2023. Although the current October price does not surpass the record high of October 2022, when the average sold price reached $593,970, this recent gain indicates a market rebound year-over-year and month-over-month. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241028061847.png" alt="" width="" height="" style=""></figure></div> Historically, Austin’s real estate market has exhibited distinct cyclical patterns. The peak in October 2022 marked the highest recorded October average sold price. Since then, prices have moderated, with fluctuations reflecting adjustments to the shifting economic climate and changing buyer demand. However, the data from October 2024 suggests a renewed interest in the Austin market, with current prices recovering from prior declines and showing sustained month-over-month growth, despite remaining below the 2022 high. The market's trajectory over the past two years highlights these cyclical shifts. For instance, the average sold price decreased to $559,879 in October 2023, representing a year-over-year decline of approximately 5.7% from 2022. This decline mirrored broader market adjustments across Texas and other regions as buyers recalibrated in response to economic conditions. The 2024 data, however, reflects a return of positive momentum, as prices rise above 2023 levels, though they remain about 2.5% below the October 2022 peak. This year-over-year increase indicates a stabilizing market with steady buyer demand. Median sold prices add another layer of insight into Austin’s real estate dynamics. In October 2024, the median sold price was $435,000, a 2.4% increase from September’s $425,000, although it reflects a slight year-over-year decline from October 2023’s $438,520. This decrease contrasts with the rise in average prices, signaling that high-value properties are driving the market’s upward trend while the central portion of the market remains relatively stable. This pattern suggests that while buyers continue to pursue premium properties, options in more affordable ranges remain accessible. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241028061933.png" alt="" width="" height="" style=""></figure></div> The data underscores Austin’s balanced appeal to a range of buyers. The simultaneous rise in average sold prices and stabilization of median prices suggests that the market offers both high-end and accessible options for buyers. Although prices remain below the October 2022 high, the current month-over-month and year-over-year gains in 2024 indicate a strengthened market with potential for future growth as economic conditions evolve. In summary, October 2024 represents a significant milestone in Austin’s real estate market recovery, with the average sold price reaching $579,330. This figure, while below the October 2022 record high of $593,970, reflects a positive upward shift from October 2023, with a month-over-month increase of 5.5%. As Austin continues to attract buyers across different price points, its real estate market remains robust, with both average and median prices providing a comprehensive view of market health.&nbsp;

October 2024 marked a resurgence in Austin’s real estate market with an average sold price of $579,330, up 5.5% month-over-month and 3.5% year-over-year. Explore data insights on the Austin market’s growth trajectory and its current position below 2022’s record high

Austin Home Prices Rebound in October 2024: A Year-Over-Year and Month-Over-Month Growth Analysis

Austin Real Estate Market October 2024: Rise in Pending Sales and Inventory The real estate market in Austin has seen significant changes as of October 2024, reflecting a combination of increased buyer activity and ample housing inventory. In the latest market update, the Austin area recorded a total of 4,130 pending listings, which marks a 6.0% increase compared to the same time last year. This rise in pending listings points to strong demand, suggesting that many buyers are finding value in the current market despite broader economic challenges. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241028060755.png" alt="" width="" height="" style=""></figure></div> Alongside this uptick in pending listings, the number of <a href="https://teamprice.com/active-residential-listings">active residential properties</a> in Austin reached 14,306, showing a notable year-over-year increase of 14.5%. This surge in available properties creates a well-supplied market for buyers, offering a wide selection of homes at competitive price points. Although inventory levels peaked in July 2024 at 15,503 active listings, the current figure still represents an ample supply, balancing demand effectively. This increase in active listings is coupled with other key market indicators that highlight the current market’s state. For instance, the Activity Index—measuring the ratio of pending to active listings—stands at 22.4%, an essential gauge for both buyers and sellers. This index level indicates a balanced market where demand is still strong but well-matched by supply, helping to maintain stability across property prices. Another valuable indicator is the Months of Inventory (MOI), which currently stands at 5.11 months. MOI measures how long it would take for the existing inventory to be sold at the current sales pace if no new listings entered the market. A MOI of over 5 typically suggests that the market leans towards a buyer's advantage, with more options for prospective homeowners to consider. However, this level is balanced enough that sellers can still anticipate steady interest in their listings. Breaking down the types of active listings reveals even more about current market trends. Of the 14,306 active listings, a significant portion represents resale properties, which make up 62.3% of the total. Resale homes average prices around $761,692, down by 7.1% from previous levels. New construction homes also form a substantial part of the inventory at 16.2%, with an average price of $742,062, reflecting an 8.1% decrease from past months. These price adjustments suggest that sellers and builders alike are aligning their pricing strategies with the market’s demand, creating opportunities for buyers. Looking at pending sales, resale properties constitute a large share, accounting for 50.4% of all pending listings, with average listing prices around $571,568. New construction follows closely, making up 17.9% of all pending listings with an average price of $599,742. The variance in pending prices indicates that while there is interest in new builds, resale properties continue to attract buyers who may be drawn to established neighborhoods or homes with existing character. For anyone tracking real estate trends in Austin, this data provides a clear view of the market's strength and balance. Higher pending listings, alongside abundant inventory and stable pricing, show a healthy market that caters to a wide range of buyers. As Austin's real estate landscape evolves, these key metrics provide valuable insights for buyers, sellers, and investors alike​

Explore Austin’s real estate market as of October 2024, with a 6% increase in pending sales and a 14.5% rise in available inventory, creating a balanced environment for buyers and sellers. Analyze key metrics like the Activity Index and Months of Inventory to understand market trends

Austin Housing Market October 2024: Increased Pending Sales and Inventory Trends

Austin’s Real Estate Market Hits Record-High Average List Price in October 2024 The City of Austin continues to demonstrate its robust real estate market growth, with the average list price reaching an all-time high of $947,796 in October 2024. This marks a significant increase from the previous October 2023 figure of $891,040, representing a 6.36% year-over-year rise. Austin’s real estate market has consistently demonstrated resilience and upward movement in property values over the past decade, contributing to its appeal for both homebuyers and investors. Looking back at historical data, the average list price in Austin has climbed steadily over the last decade. In 2014, the average price was $446,553, meaning that in 10 years, the city has seen a staggering 113.8% increase in property values. This growth is reflective of Austin’s position as one of the fastest-growing cities in the United States, driven by strong economic factors, population growth, and high demand for housing. Month-to-month data over the past year shows fluctuations in pricing, but the general trend has remained upward. In January 2024, the average list price was $887,148, slightly down by 0.5% from January 2023. However, this minor decline was quickly offset in subsequent months, with prices rebounding and ultimately peaking in October 2024. Notable increases include the February average list price, which rose to $913,186, and the March figure of $921,807. In addition to the year-over-year increase, the data shows strong growth over the past five years. From 2020 to 2024, Austin’s average list price rose by 69.6%. This five-year trend underscores the city's sustained price appreciation, making it a sought-after location for both residential and investment properties. The year 2021 was particularly noteworthy, with the market experiencing a 22.7% increase in list prices in October of that year, largely due to heightened demand and limited inventory during the pandemic. Examining the data from earlier years highlights the long-term upward trajectory of the market. In October 2015, the average list price was $480,635, and by October 2020, it had surged to $638,789, a 14.3% rise from 2019. As of October 2024, the city has maintained a steady pattern of growth, despite occasional market adjustments. This upward trend in Austin’s real estate market is not unique to October alone. Throughout 2024, other months also experienced substantial price increases. For instance, the average list price in April 2024 was $946,453, which represents a 3.0% rise compared to the previous year. In July 2024, the market held firm with an average price of $825,660, marking a 1.2% year-over-year growth. These figures emphasize the ongoing demand for housing in the Austin area. One of the most striking aspects of this data is the consistency of Austin’s real estate market growth, even during periods of economic uncertainty. The year-over-year percentage changes show that the city has experienced stable, upward trends for the better part of a decade. Whether looking at the 10-year growth of 113.8% or the five-year surge of 69.6%, it is clear that Austin remains a competitive market for both buyers and 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/20241024043822.png" alt="" width="" height="" style=""></figure></div> As Austin’s average list price continues to rise, market analysts will closely watch whether this trend persists into 2025. For now, it’s evident that Austin's real estate market is strong, with prices reflecting both the high demand for housing and the area's rapid economic growth. The data suggests that as long as these driving factors remain in place, Austin’s market will likely continue to thrive, presenting opportunities for those looking to invest in one of the nation’s most dynamic housing markets​

In October 2024, Austin’s real estate market hit a record high, with the average list price reaching $947,796. Learn about the market's impressive 113.8% growth over the past decade and what’s driving these numbers.

Austin Real Estate Reaches Record-High List Price: October 2024 Analysis

Austin Area Housing Market: October 2024 Market Conditions by Zip Code October 23 2024 : The real estate market in the Austin area, specifically across 75 zip codes, offers a diverse landscape that fluctuates between sellers, neutral, and buyers’ markets. A detailed look at the data from October 2024 reveals critical insights into months of inventory, pricing trends, and the overall real estate dynamics within key areas such as Austin, Georgetown, Round Rock, and Leander. Understanding these trends is essential for both buyers and sellers to make informed decisions. <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of inventory</a>, a measure of the balance between supply and demand, plays a pivotal role in defining the market. A sellers' market is characterized by less than 4.9 months of inventory, meaning demand is higher than the available homes. Neutral markets have inventory between 5 and 6.9 months, where supply and demand are more balanced. Finally, buyers' markets feature more than 7 months of inventory, where the supply of homes exceeds demand, giving buyers more negotiating power. As of October 2024, 39% of the cities in the Austin area fall under the sellers' market category, 25% are classified as neutral markets, and 36% are buyers' markets. Each zip code reflects a different set of market conditions, and the data illustrates how these factors influence property prices and time on the market. In a sellers' market like <a href="https://teamprice.com/zip-codes/78739">78739 (Austin)</a>, there is only 1.4 months of inventory, making it highly competitive for buyers. With an average home price of $936,857 and a median price of $799,450, homes in this area are in demand. The median time on the market is 41 days, a testament to how quickly properties are moving. Similarly, <a href="https://teamprice.com/zip-codes/78747">78747 (Austin)</a> also reflects a sellers' market, though inventory is slightly higher at 5.5 months. With 143 active listings, homes have a median price of $454,990 and spend 32 days on the market. In contrast, neutral markets offer a more balanced environment for both buyers and sellers. <a href="https://teamprice.com/zip-codes/78759">78759 (Austin)</a>, with 5.3 months of inventory, fits into this category. The median home price here is $634,500, and properties take about 69 days to sell. Neutral markets like <a href="https://teamprice.com/zip-codes/78626">78626 (Georgetown)</a>, which features 4.51 months of inventory and a median price of $436,505, reflect balanced supply and demand, allowing transactions to be fairer for both sides. Buyers' markets, on the other hand, are seen in areas like <a href="https://teamprice.com/zip-codes/78746">78746 (Austin)</a>, where the inventory reaches 8.6 months. This area features a high-end market, with average home prices reaching $3,153,492 and a median price of $2,480,000. Homes in this category tend to stay on the market longer, with a median of 89 days, offering buyers more time and negotiating power. Another buyers’ market is <a href="https://teamprice.com/zip-codes/78669">78669 (Spicewood)</a>, where inventory levels stand at 11 months. The median home price is $963,000, and homes typically stay on the market for 119 days. Price trends across the region show a mix of reductions and slight increases. In high-demand areas like <a href="https://teamprice.com/zip-codes/78704">78704 (Austin)</a>, prices have dropped by 8.2%, while <a href="https://teamprice.com/zip-codes/78731">78731 (Austin)</a> saw an 8.6% price reduction, reflecting a market shift even in previously competitive zones. Meanwhile, <a href="https://teamprice.com/zip-codes/78759">78759 (Austin)</a> experienced a notable 21.8% price increase, despite being in a neutral market. This uptick indicates growing demand, even as supply remains relatively balanced. Areas with more price volatility are typically those with higher inventory. <a href="https://teamprice.com/zip-codes/78645">78645 (Leander)</a> and <a href="https://teamprice.com/zip-codes/78722">78722 (Austin)</a>, with 11 and 7.2 months of inventory respectively, have seen more fluctuations in prices as sellers adjust to the slower market. As a result, more properties in these zip codes have experienced price drops to attract buyers. For instance, <a href="https://teamprice.com/zip-codes/78701">78701 (Austin)</a> had 52.2% of its listings adjust prices, with an average reduction of 8.0%. This trend of price adjustments is common across the market as sellers respond to changing demand. Inventory levels in each zip code are crucial for understanding market conditions. <a href="https://teamprice.com/zip-codes/78739">78739 (Austin)</a>, with its low inventory, reflects a tight market where buyers must act quickly, while areas like <a href="https://teamprice.com/zip-codes/78669">78669 (Spicewood)</a> and <a href="https://teamprice.com/zip-codes/78746">78746 (Austin)</a>, with their higher inventory, provide more opportunities for buyers to negotiate better deals. For instance, in 78746 (Austin), where the inventory is at 8.6 months, the median time on the market is 89 days, giving buyers more time to consider their options. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241023021334.png" alt="" width="" height="" style=""></figure></div> As the Austin area continues to grow, market conditions are likely to shift further. Monitoring these trends and understanding the months of inventory in each zip code will be key for anyone looking to buy or sell in this diverse and competitive market. Whether you are looking to capitalize on a sellers' market or negotiate in a buyers' market, understanding these market metrics is essential for success.&nbsp;

Discover the latest real estate trends in the Austin area with insights on months of inventory, pricing, and market conditions across 75 zip codes. Learn how market dynamics favor buyers or sellers and how these factors impact home prices and time on the market in October 2024

Austin Area Real Estate Market Analysis: October 2024 Insights by Zip Code

<a href="https://teamprice.com/sold-price-to-list-price-ratio">Sold Over List Price</a> in Austin: What 20+ Years of Data Reveals Over the past two decades, the Austin real estate market has experienced significant fluctuations in the percentage by which homes sell over their list prices. This data, ranging from 2000 to 2024, reveals compelling trends in Austin's housing market, offering insights into buyer behavior and market competitiveness. From a steady climb in <a href="https://teamprice.com/sold-price-to-list-price-ratio">over-list sales percentages</a> through the early 2000s to peak demand in recent years, Austin's housing market has shown how dynamic it can be. In the early 2000s, the percentage of <a href="https://teamprice.com/sold-price-to-list-price-ratio">properties sold over list price in Austin</a> started modestly. In 2000, the average percentage peaked at 30.8% by June, highlighting a growing interest in Austin’s real estate market even then. This pattern of sales percentages hovering in the high teens and low twenties continued into the 2000s, with some monthly highs reaching just above 26%. Despite some fluctuations, the market remained relatively stable until 2020. The Austin real estate market experienced its most dramatic surge in 2021. During this period, the percentage of <a href="https://teamprice.com/sold-price-to-list-price-ratio">properties sold over list price</a> reached unprecedented heights, with an April high of 72.6%. These elevated percentages persisted throughout the year, reflecting a time of strong demand and highly competitive bidding. Many factors contributed to this demand spike, including positive net migration, increased employment opportunities, and a desirability that led to intense buyer competition. This trend extended slightly into 2022, though the numbers started to decline as the market began cooling. By mid-2022, as inventory levels increased and buyer demand started to wane, the average percentages of properties sold over list price dropped from 64.7% in March to 11.6% by December. In 2023, the market continued its downward trend, with percentages stabilizing to levels last seen before 2011. For example, the <a href="https://teamprice.com/sold-price-to-list-price-ratio" class="on">highest percentage of over-list sales</a> was in April at 17.9%, a significant decrease compared to the peaks of previous years. As of October 2024, Austin’s real estate market is seeing the lowest percentage of properties sold over list price in over a decade, reflecting a new era where buyers have greater opportunities to purchase homes without the need to outbid list 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/20241016032959.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-align="center" width="" height="" data-size="," data-percentage="auto,auto" data-index="0" data-file-name="austin-real-estate-sold-over-list-price-2000-2024.png" data-file-size="481585" data-origin="," style=""></figure></div> Throughout the past few years, Austin has transformed into a balanced market, where buyers are finding more options and less competition. With the surge in over-list sales percentages cooling, it has become an opportune time for buyers who were previously priced out. As Austin continues to evolve, these trends demonstrate that while the market can be fiercely competitive, there are periods when opportunities for buyers emerge, enabling them to find the right home at the right price​

Explore the changing trends in Austin’s real estate market, focusing on homes sold over list price from 2000 to 2024. Discover how demand surged to record highs, influencing prices and creating buyer opportunities as the market cooled

Austin Real Estate Trends: Sold Over List Price from 2000 to 2024

Austin Real Estate: What Months of Inventory Reveal About Buyer and Seller Markets October 15, 2024 : In the Austin real estate market, understanding the relationship between inventory and days on market is crucial for both buyers and sellers. The recent report on the area’s zip codes provides valuable insights into these dynamics by categorizing markets as seller’s, neutral, or buyer’s markets based on the <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory (MOI)</a>. This analysis helps guide real estate decisions, providing a snapshot of local supply and demand. The Months of Inventory metric is a key indicator of whether a market favors sellers, is neutral, or favors buyers. A seller’s market is defined as having less than 4.9 months of inventory, suggesting limited supply relative to demand, which often leads to faster sales and higher prices. In the <a href="https://teamprice.com/cities/austin-tx">Austin area</a>, 31 zip codes, or 41% of the markets, fall into the seller’s market category. For example, in <a href="https://teamprice.com/zip-codes/78739">zip code 78739</a>, homes have an MOI of just 1.5 months, with a median price around $799,000. Here, homes are selling quickly, presenting a competitive landscape for buyers. A neutral market is characterized by an MOI between 5 and 6.9 months, where supply and demand are relatively balanced. In the Austin area, 23 zip codes, or 31% of the markets, are in a neutral state. For instance, <a href="https://teamprice.com/zip-codes/78724">zip code 78724</a> in Austin has an MOI of 6.89 months with a median price of $372,500, indicating stability in housing prices and demand. Buyers in these areas can expect moderate competition, while sellers have a fair chance of selling within a reasonable timeframe. Finally, a buyer’s market is one with an MOI of over 7 months, suggesting ample supply and less demand, which tends to favor buyers through increased bargaining power and potentially lower prices. There are 21 zip codes, or 28% of Austin markets, categorized as buyer’s markets. Notably, <a href="https://teamprice.com/zip-codes/78645">zip code 78645 in Leander</a> has a high MOI of 11 months, with a median home price of $550,000. Homes in these areas tend to remain on the market longer, offering buyers more time and choices. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241015024617.png" alt="" width="" height="" style=""></figure></div>​ The relationship between Days on Market and Months of Inventory is significant, with a strong positive correlation of 0.81. This means that as inventory levels rise, the days a home spends on the market also tend to increase. For example, in the high-inventory area of <a href="https://teamprice.com/zip-codes/78612">78612 (Cedar Creek)</a>, homes stay on the market for an average of 131 days. Conversely, in low-inventory seller markets, such as <a href="https://teamprice.com/zip-codes/78717">78717</a>, where the MOI is just 2.35, homes move off the market in a relatively short period of 67 days. For buyers, this analysis provides a guide to navigating <a href="https://teamprice.com/cities/austin-tx">Austin</a>’s varied real estate markets. In buyer-heavy areas with higher MOI, there’s more room to negotiate and less urgency to act quickly. Sellers, on the other hand, may need to consider competitive pricing and timing strategies, especially in areas where higher inventory levels correlate with longer listing times. In summary, the Austin real estate market showcases a diverse range of opportunities for buyers and sellers alike. By understanding the significance of inventory and days on market, individuals can make well-informed decisions in this dynamic market landscape​

Explore the Austin real estate market with a focus on Months of Inventory by zip code. Understand buyer and seller trends, days on market, and how these factors impact home prices and competition. Discover which areas favor buyers or sellers and gain insights for making informed real estate decisions

Austin Real Estate: How Inventory Affects Days on Market by Zip Code

Why Austin’s <a href="https://teamprice.com/zip-codes/78701/for-sale">78701 Luxury Market</a> Has an Unprecedented 87 Months of Inventory The real estate market in <a href="https://teamprice.com/zip-codes/78701/for-sale">Austin's 78701 zip code</a> is currently presenting unique conditions for luxury property buyers and sellers. As of October 10, 2024, this area boasts a substantial number of high-end properties priced above $2.15 million, totaling 31 active listings. However, despite this considerable supply, the market is exhibiting signs of significant imbalance, with an exceptionally high months of inventory figure. Months of inventory is a metric that indicates how long it would take to sell all current listings at the existing sales pace, assuming no new listings are added. For the 78701 zip code, this figure stands at a staggering 87 months for properties priced over $2.15 million. This translates to over seven years to clear out the current supply, a sign that the market in this price range is heavily skewed toward buyers. Such an extended timeframe indicates that demand is not meeting the supply, giving buyers substantial negotiating power in this luxury segment. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241010112019.png" alt="" width="" height="" style=""></figure></div>​ In addition to the elevated months of inventory, the area also has a low activity index of 6.5%. This figure, which measures the proportion of pending listings to the total active and pending listings, is well below what would be expected in a more balanced market. Typically, a healthy real estate market has an activity index in the 20%–30% range. The current rate of 6.5% points to sluggish demand and a slow turnover of properties in Austin's luxury market. The high months of inventory are influencing prices, as sellers strive to attract buyers by reducing prices. For instance, the average list price across all <a href="https://teamprice.com/zip-codes/78701/for-sale">active listings in the 78701 zip code</a> is around $1.32 million. This price level is influenced by a broad range of listings, with many priced above the $2.15 million mark. Price reductions have become common, with average markdowns around $131,663, reflecting sellers' attempts to make their properties more competitive amid the slow-moving market. The current state of the <a href="https://teamprice.com/zip-codes/78701/for-sale">luxury market in 78701</a> also reflects on broader economic factors. Many buyers may be hesitant due to rising interest rates or shifting preferences. Nevertheless, the high inventory level creates a favorable landscape for those looking to invest in high-end properties. Buyers can benefit from more negotiating leverage, as the oversupply forces sellers to be flexible on price. Overall, the <a href="https://teamprice.com/zip-codes/78701/for-sale">real estate conditions in Austin’s 78701 zip code</a> emphasize the importance of understanding market trends and statistics. The unusually high months of inventory, low activity index, and ongoing price reductions collectively highlight a market that offers distinct opportunities for luxury buyers​

Discover why Austin's 78701 luxury real estate market is experiencing an unprecedented 87 months of inventory. Learn how low demand and high supply are shaping opportunities for buyers in this upscale Austin zip code

Why Austin’s 78701 Luxury Market Has an Unprecedented 87 Months of Inventory

Austin-Area Home Prices Drop by 22%: What It Means for Buyers and Sellers The real estate market in the Austin area has experienced a significant shift since its peak, with notable <a href="https://teamprice.com/residential-price">declines in both list and sold prices</a> across various metrics. This analysis, based on data from the Austin-Area MLS and the City of Austin, provides a detailed breakdown of how home prices have changed since reaching their highest points. For buyers, sellers, and real estate professionals, understanding these trends is essential to navigate the current market conditions effectively. As of September 2024, the <a href="https://teamprice.com/residential-price">average list price in the Austin-Area MLS</a> has decreased by 6.3% from its peak value in April 2024. At that time, the average list price was $709,318, but it has since fallen to $664,347. Similarly, the median list price in this region peaked earlier, in May 2022, at $539,900. It now stands at $465,041, marking a more substantial drop of 13.9%. This decline in listing prices reflects the broader market's correction and signals opportunities for buyers seeking to enter the market at more competitive prices. The <a href="https://teamprice.com/residential-price">sold prices in the Austin-Area MLS</a> show even more dramatic declines. The average sold price peaked in May 2022 at $664,515. Today, that figure has dropped by 18.6%, settling at $541,059. The median sold price has seen an even sharper decline, falling from a peak of $538,000 in May 2022 to $420,000 today, representing a 21.9% decrease. Additionally, the average price per square foot for sold homes in the Austin-Area MLS has dropped by 22.5%, from $324 to $251. The median price per square foot has also seen a 22.5% decline, falling from $280 to $217. These reductions underscore the changing dynamics of the market and suggest that sellers may need to adjust their expectations regarding home values. Turning to the City of Austin specifically, we see somewhat smaller <a href="https://teamprice.com/residential-price">declines in list prices</a>, but significant reductions in sold prices. The average list price in the City of Austin peaked at $948,096 in April 2024. While this figure remains relatively high, it has dropped by 2.5% to $924,711. The median list price, which reached $658,589 in May 2022, now sits at $625,000, reflecting a 5.1% decrease. <a href="https://teamprice.com/residential-price">Sold prices in the City of Austin</a> have fallen even more sharply. The average sold price, which peaked at $847,583 in May 2022, has dropped by 14.8% to $722,561. The median sold price has fallen from $680,000 to $570,000, a decrease of 16.2%. When considering price per square foot, the declines are more pronounced. The average price per square foot has decreased by 21.7%, from $442 at its peak to $346. Similarly, the median price per square foot has dropped by 21.9%, falling from $393 to $307. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240930120512.png" alt="" width="" height="" style=""></figure></div>​ These declines are significant and offer valuable insights into the state of the Austin real estate market. For buyers, this may represent a favorable time to enter the market, with prices being lower than their peak. Sellers, on the other hand, may need to adjust their strategies, pricing their homes more competitively to attract buyers in a market that has shifted away from its peak values. Regardless of whether you're buying or selling, staying informed about the latest trends in the Austin real estate market is crucial for making smart decisions. With home prices in the Austin area and the City of Austin seeing drops of up to 22.5% from their peak, the data suggests that the market is undergoing a significant correction. While the average and median list prices show more modest declines, particularly in the City of Austin, the sold price data indicates that buyers are paying considerably less than they were at the market’s peak. For real estate professionals, this information is invaluable when advising clients on how to navigate the current market conditions​

Austin real estate prices have dropped significantly since their peak in 2022 and 2024. Learn about the detailed price reductions in list and sold prices, as well as changes in price per square foot, and understand what these trends mean for buyers and sellers in the Austin real estate market

Austin Real Estate Market: How Prices Have Dropped Since Peak Values

Austin Housing Market Trends: Sales Data Reveals Sharp Decline in 2024 The real estate market in Austin, Texas, has experienced significant shifts over the past decade. As one of the fastest-growing cities in the United States, Austin's housing market has seen periods of rapid growth followed by sharp declines, particularly in the last few years. By analyzing the data from January 2014 through September 2024, it becomes clear that the number of home sales in Austin has fluctuated, with noticeable drops in the most recent years. This article dives into these trends, offering an in-depth look at how the market has evolved and what the current state of sales looks like. In September 2024, the <a href="https://teamprice.com/residential-inventory">City of Austin recorded 629 home sales</a>. This number represents a substantial decline from previous years. In fact, comparing September 2024 to September 2020, when 1,533 sales were recorded, shows a dramatic reduction of nearly 60%. Even when compared to September 2023, which saw 840 sales, this represents a decrease of 25.1%. The trend is not unique to September. Months like August and July have also seen reduced activity, with August 2024 recording 870 sales, down from 1,485 in August 2018. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240930115127.png" alt="" width="" height="" style=""></figure></div>​ If we look further back, the sales numbers tell an even more complex story. Between 2014 and 2019, sales were relatively stable. For example, in September 2014, 1,146 <a href="https://teamprice.com/residential-inventory">homes were sold</a>, and in 2019, that number was slightly higher at 1,234. However, by 2022, sales dropped to 948 in September, and the numbers have continued to decline since then. The COVID-19 pandemic brought significant changes to the housing market, as seen by the surge in sales in 2020 and 2021. July 2020 was particularly strong, with 1,815 sales recorded, but by July 2024, sales had fallen to just 900. Year-over-year changes highlight the extent of this decline. In September 2024, sales were down 49% compared to September 2020 and 45.1% compared to September 2015. This downward trend has been consistent across most months, with only occasional upticks. For example, April 2024 showed a 13.6% increase from April 2023, but the overall trend has been a steady reduction in sales since the highs of 2020. The seasonal nature of real estate activity is also evident in the data. Summer months, such as June, July, and August, tend to have more <a href="https://teamprice.com/residential-inventory">home sales</a> compared to the winter months. For example, June 2024 saw 865 home sales, which is notably lower than June 2020's 1,505 sales, but still higher than the early months of the year, such as January 2024, when only 551 homes were sold. This pattern of higher summer activity followed by lower sales in the fall and winter is typical in the housing market, but the recent decline in sales is more than just seasonal. It reflects broader market conditions that have shifted over time. The five-year and ten-year comparisons further emphasize how much the market has changed. Between 2020 and 2024, there has been a 43.7% <a href="https://teamprice.com/residential-inventory">decline in sales</a> in June alone. Similarly, comparing the years 2015 to 2024 shows a 45.1% decrease in September sales. These declines point to a challenging real estate environment, where fewer homes are being sold despite the rapid growth Austin experienced earlier in the decade. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240930115143.png" alt="" width="" height="" style=""></figure></div>​ Overall, the data shows that while Austin's real estate market was thriving in the mid-2010s, it has faced significant challenges in recent years. The rapid <a href="https://teamprice.com/residential-inventory">increase in sales</a> during 2020 and 2021 has been followed by a period of contraction, with fewer homes being sold each month. This trend is likely influenced by a combination of factors, including rising home prices, higher interest rates, and changing buyer behavior. As Austin continues to grow, these trends will be important to watch for anyone looking to buy or sell property in the area​

Discover the latest trends in Austin's real estate market with an in-depth analysis of sales data from 2014 to 2024. This detailed article explores the steady decline in home sales over the last decade, the factors driving these changes, and what it means for buyers and sellers in the Austin area. Stay informed on the current state of Austin real estate with this comprehensive report

Austin Real Estate Sales Decline: A Detailed Look at Trends from 2014 to 2024

Austin Real Estate Market: Examining Months of Inventory from 2014 to 2024 The Austin real estate market has experienced significant shifts over the past decade, with the <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">months of inventory</a> serving as a key indicator of these changes. The term "months of inventory" refers to the amount of time it would take to sell all active listings in the market at the current pace of sales. When months of inventory are low, it signals a seller's market where demand exceeds supply. Conversely, higher months of inventory indicate a buyer's market, where there are more homes available than there are buyers. Understanding the fluctuation of months of inventory in Austin from 2014 to 2024 can offer insight into how the market has evolved and where it may be heading. In 2014, the Austin housing market had an average of 3.37 months of inventory. This level indicated a balanced market where neither buyers nor sellers had a significant advantage. By 2015, the months of inventory increased slightly to 3.61, maintaining the market’s balanced nature. However, a steady decline began in the years that followed, with the months of inventory dropping to 2.45 by 2018. This trend suggested that housing supply was tightening as demand increased, likely driven by Austin's booming population growth and economic expansion. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240926115222.png" alt="" width="" height="" style=""></figure></div> The onset of the pandemic in 2020 marked a dramatic shift in the real estate landscape. The months of inventory plummeted to just 1.54 in 2020, reflecting an extremely competitive seller's market. The pandemic spurred demand for homes as historically low interest rates and the rise of remote work led many to seek more spacious living environments. In 2021, the months of inventory reached an all-time low of 0.97. Buyers were facing significant challenges, with homes being sold almost as soon as they were listed, creating intense competition. However, by 2022, the months of inventory began to increase as the market started to correct itself. The average months of inventory for that year rose to 2.37, more than doubling from the previous year’s figure. This upward trend continued into 2023, with the months of inventory rising to 4.01, a sign that the market was beginning to balance after the volatility caused by the pandemic. As of 2024, the months of inventory have reached 4.89, suggesting that supply is starting to catch up with demand. Looking at individual months, the seasonal fluctuations in Austin's real estate market become apparent. For instance, January consistently sees lower months of inventory compared to the summer months, which is a common trend in real estate markets nationwide. In 2024, January had 3.27 months of inventory, while June reached 5.93, reflecting increased market activity during the warmer months when families tend to move. This pattern is consistent across the years, with inventory levels generally peaking during the summer and declining in the winter.&nbsp; Over the ten-year period from 2014 to 2024, the data reveals significant year-over-year percentage changes. For example, in January 2022, there was a 261.7% increase in inventory compared to 2021, highlighting how dramatically the market had shifted. The years immediately following the pandemic saw inventory levels steadily rise, marking a return to a more balanced market. Despite this correction, the 2024 levels are still higher than pre-pandemic figures, indicating that Austin’s housing market is likely entering a new phase of stabilization. In the long-term view, the 5-year and 10-year averages offer further perspective. From 2020 to 2024, there was a 73.6% increase in the months of inventory for January, while the 10-year comparison shows a 24.0% rise. These trends suggest that while the market is recovering from the dramatic shifts seen during the pandemic, it may not fully revert to the conditions seen in the mid-2010s when inventory levels were much lower. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240926115300.png" alt="" width="" height="" style=""></figure></div> The months of inventory is a crucial indicator of market health. For potential buyers and sellers in the Austin area, understanding these trends can help inform decisions about entering or exiting the market. With the current levels approaching 5 months of inventory in 2024, Austin is moving closer to a balanced market where neither buyers nor sellers have a distinct advantage. This return to equilibrium after years of intense competition is a promising sign for the stability of the housing market in the city.

Explore the evolution of Austin's real estate market with a detailed analysis of months of inventory from 2014 to 2024. Discover how the market has shifted from a seller’s market to a more balanced state, with data-driven insights into key trends and seasonal variations. Learn what these inventory changes mean for buyers and sellers in Austin

Months of Inventory in Austin Real Estate: A Decade of Data (2014-2024)

Is Buying or Renting Better in Austin's 78725 Zip Code? A Data-Driven Look The <a href="https://teamprice.com/zip-codes/78725/for-sale">housing market in Austin’s 78725 zip code</a> presents an intriguing <a href="https://teamprice.com/renting-vs-buying">balance between renting and buying</a>, particularly for prospective homeowners and renters evaluating their long-term options. As of September 2024, the data suggests that the gap between renting and buying in this area is relatively narrow, making it a prime location for careful financial consideration. In 78725, the median household income sits at $78,420. When purchasing a home with a standard 20% down payment, the mortgage payment (PITI) is $2,263, consuming 34.6% of the median income. Comparatively, the median rent is $1,965, which equates to 30.1% of the median household income. This difference, a mere $298, reflects a 13.2% cost gap in favor of renting. However, the close proximity of these costs means that buying a home offers a competitive financial alternative, especially for those interested in building equity over time. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240927122927.png" alt="" width="" height="" style=""></figure></div>​ At present, there are 41 <a href="https://teamprice.com/zip-codes/78725/for-sale">active listings in the 78725 zip code</a>, providing a range of options for buyers considering this market. The average list price is $380,134, while the median list price is $324,000. Notably, 53.7% of these homes have experienced price reductions, with an average drop of $53,086 or 7.4%. This substantial adjustment in listing prices indicates that sellers are adjusting their expectations to align with buyer demand. On the other hand, nearly 44% of listings have remained at their original price, suggesting that some sellers are holding firm despite market trends. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240927122940.png" alt="" width="" height="" style=""></figure></div> The average days on market for homes in this area is 58 days, with a median of 49 days, highlighting the relatively moderate speed at which homes are selling. Homes are staying on the market for about two months on average, which can be a critical factor for buyers and sellers alike. In particular, sellers with vacant properties—accounting for 51.22% of the active listings—may be more motivated to sell quickly, given that these homes are not generating rental income. <a href="https://teamprice.com/insight-and-statistics-78725">Market activity in 78725</a> can be characterized as balanced but slightly leaning toward buyers. The months of inventory currently stand at 5.47 months, reflecting a market in transition. A market with 4 to 6 months of inventory is generally considered balanced, meaning that supply and demand are roughly in equilibrium. However, the fact that more than half of the homes have undergone price cuts suggests that buyers may have greater negotiating power, especially for homes that have been on the market for more than 50 days. The data also reveals a notable distinction between newer homes and resales. Nearly all of the homes currently on the market are resales, with just one new property available, representing only 2.44% of the total. The prominence of resale homes may appeal to buyers who are looking for more established properties or who prefer not to wait for new construction. For those evaluating the financial merits of renting versus buying, the 78725 zip code offers a unique opportunity. The small gap between the costs of renting and homeownership makes purchasing a home a viable option for many households. With price reductions on over half of the active listings, the current market presents potential savings for buyers looking to enter the area. Additionally, the significant percentage of vacant homes suggests that sellers may be more flexible on price, providing further opportunities for negotiation. Overall, the 78725 housing market offers a balanced dynamic, where both renters and buyers can find competitive options. For renters, the lower upfront costs and flexibility may be appealing, while buyers can take advantage of the potential for long-term appreciation, especially with current price drops. As the market continues to evolve, both sides of the renting versus buying decision offer viable paths for individuals and families alike in this part of Austin​

78725-austin-real-estate-market-renting-vs-buying-analysis-2024

78725 Austin Real Estate Market: Renting vs Buying Analysis for 2024

Why Austin Home Prices Fell 21.3%: A Decade of Real Estate Data September 26, 2024 : The City of Austin real estate market has experienced significant changes over the past decade, with a notable rise and subsequent correction in the <a href="https://teamprice.com/residential-price">average sold price per square foot</a>. From 2014 to 2024, the price of homes in Austin has shown both steady growth and moments of rapid appreciation, followed by a marked decline in recent years. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240926044501.png" alt="" width="" height="" style=""></figure></div> In 2014, the <a href="https://teamprice.com/residential-price">average sold price per square foot in Austin</a> was $172. Over the next several years, prices increased gradually, reflecting healthy market growth. By 2019, the average price had risen to $239 per square foot, signaling strong demand in the Austin area. However, it was the period from 2020 to 2022 when the market saw a dramatic surge, driven by factors such as historically low interest rates and increased housing demand. The most significant rise occurred in 2021 and 2022. In May 2022, the <a href="https://teamprice.com/residential-price">average sold price per square foot</a> peaked at $442, marking the highest point in Austin's real estate history. This sharp increase represented a surge of over 85% in just a few short years, as prices climbed from $239 per square foot in 2019 to $442 per square foot in May 2022. Many buyers were priced out of the market during this period, as the rapid appreciation made homes less affordable. However, as is often the case in overheated markets, a correction followed. After reaching its peak in May 2022, Austin’s real estate prices began to decline. By September 2024, the average sold price per square foot dropped to $348, representing a 21.3% decrease from the market peak. This decline is indicative of the natural market cycle, where prices begin to correct after a period of unsustainable growth. This correction can also be seen when comparing prices across specific months. For instance, the average price in January 2024 was $337 per square foot, a noticeable drop from $385 per square foot in January 2022. Similarly, in March 2024, the price was $361 per square foot, compared to $416 per square foot in March 2022. These numbers clearly reflect the downward trend as the market stabilizes after the extreme price hikes seen during the pandemic boom. While the recent drop in prices may seem concerning to some, it is important to consider the overall long-term growth of Austin’s real estate market. Even with the recent decline, the average sold price per square foot is still significantly higher than it was in the mid-2010s. In September 2014, the average price was $190 per square foot, meaning the current price of $348 represents an increase of over 83% over the last decade. This pattern of rising prices followed by a correction aligns with the concept of mean regression in real estate. As prices skyrocketed in 2021 and 2022, they moved far above the historical trend line. The current price adjustments reflect a reversion to the mean, where the market returns to more sustainable levels in line with long-term growth trends. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240926044531.png" alt="" width="" height="" style=""></figure></div> As Austin continues to grow, its real estate market remains robust, despite the recent corrections. Buyers and sellers in the Austin area should understand these trends and the historical context when considering current pricing. The market is adjusting after a period of unprecedented growth, and while prices are down from their peak, the long-term outlook remains positive for those who are considering entering or exiting the market.​

The Austin real estate market has experienced a significant correction, with the average sold price per square foot dropping 21.3% from its May 2022 peak. This detailed analysis tracks the market's trends from 2014 to 2024, providing insights into the factors behind the price surge and subsequent decline. Learn how the market is stabilizing and what it means for buyers and sellers in the Austin area

Austin Real Estate Market: Average Price Per Square Foot Drops 21.3% Since Peak

Austin Real Estate Activity Index Sees Uptick Amid Seasonal Changes and Lower Interest Rates As of&nbsp;&nbsp;September 24, 2024, the <a href="https://teamprice.com/insight-and-statistics">Austin real estate market</a> is showing signs of improvement, with the <a href="https://teamprice.com/real-estate-glossary/activity-index">Austin Area Real Estate Activity Index</a> reaching its highest point since late July. This shift in the market comes after months of fluctuating activity, driven primarily by changes in both pending sales and the number of active listings. The data reveals a market responding to various factors, including seasonality, improved interest rates, and the attractiveness of current listing prices, many of which have undergone significant price reductions. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240924012751.png" alt="" width="" height="" style=""></figure></div> Currently, the <a href="https://teamprice.com/real-estate-glossary/activity-index">Activity Index</a> for 2024 sits at 22.4%, marking a notable difference of -12.6% compared to the 25.6% figure from 2023. Despite this decline from the previous year, recent data shows that the market may be turning a corner. Pending sales, for example, are now at 4,247, their highest level since August 1, 2024. Meanwhile, active listings have decreased to 14,753, down from a peak of 15,503 on July 15, 2024. This drop of 750 active listings is a strong indicator of tightening inventory, a trend that often accompanies increased buyer interest.​Seasonality continues to play a major role in the fluctuations of the Austin real estate market. As the summer season ends, it's common to see shifts in both inventory and buyer demand. However, in 2024, other factors are intensifying these changes. One of the most significant is the improvement in interest rates, which has made financing more accessible for potential buyers. Coupled with the decreasing number of active listings, this has contributed to an uptick in pending sales, further bolstering the Activity Index.​Another critical factor driving the current market is the sharp price reductions across a large percentage of active listings. Of the 14,753 <a href="https://teamprice.com/active-residential-listings">active properties</a>, 56.7% have experienced price drops. These reductions are not minor; in the <a href="https://teamprice.com/insight-and-statistics-austin">City of Austin</a> alone, 58.3% of the 2,567 active listings have had price drops, with an average reduction of $98,000, or -7.6%. These price adjustments are drawing more attention from potential buyers, making properties more appealing in a market where affordability remains a key concern.​Specific neighborhoods are seeing even more dramatic price cuts. For example, in the 78722 zip code, 51.3% of the 39 active listings have had price reductions, with an average drop of $86,000, or -10.6%. This kind of pricing strategy, paired with lower interest rates, is creating a perfect storm for increased buyer activity as we head into the latter part of the year. In summary, the combination of improved interest rates, attractive listing prices, and the natural seasonality of the real estate market are all contributing to an upward trend in Austin's Activity Index. While 2024 has shown a slight overall decline compared to 2023, the current data suggests that the market may continue to strengthen as inventory tightens and buyer demand grows.

The Austin real estate market is showing signs of recovery as the Activity Index hits its highest point since July 2024. With improved interest rates and significant price reductions across active listings, pending sales have surged to their highest levels since August, creating a positive outlook for the remainder of the year

Austin Real Estate Market Sees Activity Index Improvement in September 2024

<a href="https://teamprice.com/market-update">Austin Real Estate Market Update</a>: September 20 2024 The Austin real estate market is currently in a period of transition. As of September 2024, the <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory (MOI)</a> stands at 5.2 months, signaling a neutral market. This metric is a key indicator in real estate, measuring how long it would take for all current listings to sell if no new properties were added. An MOI below 4.9 months indicates a seller’s market, while more than 7 months suggests a buyer’s market. At 5.2 months, the Austin market is balanced, giving both buyers and sellers some leverage, but not tipping heavily in favor of either. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240920071609.png" alt="" width="" height="" style=""></figure></div>​ In addition to the MOI data, there are currently 15,114 <a href="https://teamprice.com/active-residential-listings">active residential listings in the Austin area</a>. This is down from a recent peak of slightly over 16,000 just a few months ago. This drop in active listings could indicate a slight tightening of inventory. Fewer homes available on the market can lead to more competition among buyers, but it is important to note that inventory levels are still higher than during the housing boom of 2020 and 2021, when active listings were at historic lows. The drop in listings from over 16,000 to 15,114 shows a trend that could impact how quickly homes sell and at what price point they move. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240920071624.png" alt="" width="" height="" style="" origin-size="1835,892"></figure></div>​ The <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory</a> data shows a significant shift from just a few years ago. During the pandemic years, when buyer demand surged due to <a href="https://teamprice.com/30-year-fixed-mortgage-rate">low-interest rates</a> and shifting housing needs, the MOI dropped to as low as 1.0 month in early 2021. At that time, the market was extremely competitive, with multiple offers and homes selling well above asking prices. In contrast, today’s MOI of 5.2 months reflects a more measured pace of buying and selling. Buyers have more options and can take more time to make decisions, while sellers may need to be more strategic about pricing. Although the current market is neutral, it is still important for buyers and sellers to understand the underlying trends. Interest rates are higher now compared to the historically low rates seen in 2020 and 2021. This increase in borrowing costs has cooled buyer enthusiasm somewhat, leading to more stable market conditions. However, Austin’s desirability as a place to live continues to drive demand, particularly as the market stabilizes from the rapid growth of recent years. Sellers should be aware that while the market is no longer as frenzied as it was during the housing boom, homes are still selling. With 15,114 active listings, there is enough inventory for buyers to choose from, but not so much that it overwhelms the market. Pricing homes competitively will be essential to attracting attention and offers. Sellers might also expect properties to stay on the market longer compared to the rapid sales seen in the past two years. Buyers, on the other hand, can benefit from the neutral market conditions. With the number of active listings and a stable MOI, buyers have the opportunity to negotiate more favorable terms than they would have in a strong seller’s market. However, they should still be mindful of rising interest rates, which could affect their buying power. Waiting too long for prices to drop further could mean missing out on favorable financing terms. Overall, the Austin real estate market is finding its balance. The shift from the extreme seller’s market of the pandemic years to today’s neutral conditions is a sign of stabilization. With 5.2 months of inventory and 15,114 active listings, the market is well positioned for both buyers and sellers to make informed decisions. Monitoring these trends will be essential as the market continues to evolve throughout the rest of 2024.

Latest trends in the Austin real estate market for September 2024. With 15,114 active listings and a neutral 5.2 months of inventory, find out what this means for both buyers and sellers as the market stabilizes. Explore key data and insights to make informed decisions in Austin’s evolving housing market

Austin Real Estate Update: 5.2 Months of Inventory and 15,114 Listings in September 2024

Austin Real Estate Prices Fall to March 2021 Levels September 16, 2024 : The Austin real estate market has experienced significant changes in recent years, particularly in terms of median sold prices. As of September 2024, the <a href="https://teamprice.com/market-cycle">median sold price in Austin has fallen</a> to $428,125, a figure last seen in March 2021 when the median sold price was $425,000. This decrease highlights a notable market shift from the rapid price increases observed over the past few years. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240917125920.png" alt="" width="" height="" style=""></figure></div> In 2020, the Austin real estate market saw median home prices rise steadily, with the average median price at $344,500. The year ended with prices climbing as high as $366,585 in December. This growth set the stage for 2021, a year marked by even higher demand and price increases. By March 2021, the median sold price reached $425,000, and prices continued their upward trajectory throughout the year, peaking at $480,000 during the summer months. The year closed with a median sold price of $475,000 in December, and the average median price for 2021 was $461,500. The upward momentum continued into 2022, where <a href="https://teamprice.com/market-cycle">Austin's housing market reached its highest levels</a>. The median sold price hit a peak of $550,000 in May and June 2022, marking the height of the real estate boom. However, by the end of 2022, prices started to decline, reflecting a cooling in the market as interest rates increased and affordability became a concern for many buyers. The year ended with a median sold price of $450,000 in December, down from the mid-year high. The average median price for 2022 was $497,048, showing just how significant the market surge had been. As 2023 progressed, the real estate market began to show more signs of stabilization. The median sold prices fluctuated but remained lower compared to the previous year. In March 2023, the median sold price was $450,000, and by the end of the year, the market had slightly dipped to $440,415 in December. The average median price for 2023 was $450,150, reflecting a market in transition from the rapid growth of previous years to a more moderated pace. In 2024, the downward trend in prices continued. By March 2024, the median sold price had fallen to $442,990, and by September 2024, it dropped further to $428,125. This level marked a return to the pricing seen in early 2021, signaling a full correction from the highs of 2022. The <a href="https://teamprice.com/market-cycle">average median price for 2024</a>, up to the most recent data, is $441,762, further illustrating the cooling trend in the market. This data shows how the Austin real estate market has shifted from unprecedented growth to a more balanced state. The rapid price escalation in 2021 and 2022, fueled by low interest rates and strong demand, eventually gave way to a cooling off period. Rising interest rates, economic uncertainty, and affordability issues have all contributed to the current decline in prices. Despite the decrease in median sold prices, the Austin market remains significantly above the pre-pandemic levels of 2020, where the median sold price was $330,000 in March of that year. The <a href="https://teamprice.com/market-cycle">market correction</a>, while notable, has not erased the gains made during the housing boom. As a result, the long-term trend still points toward growth, though at a more sustainable rate than the surge seen in 2021 and 2022. For those looking to buy or sell in Austin, understanding these market trends is critical. While prices are down from their peak, they are still historically high. Buyers may find opportunities in the current market with lower prices than in the previous two years, while sellers may need to adjust their expectations given the more balanced market conditions.​

As of September 2024, Austin’s median sold prices have returned to March 2021 levels, dropping to $428,125. This detailed analysis breaks down how the market has shifted over the past few years, covering the highs of 2021 and 2022 and the cooling trend of 2023 and 2024.

Austin Real Estate Prices Fall to March 2021 Levels: September 2024 Update

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