Is the Austin Market Recovering? Insights into Price Changes and Market Dynamics The Austin real estate market has undergone significant changes in recent years, highlighted by a notable decrease in the median list price for homes. This trend is evident when examining data from May 2022 to December 2024, showcasing a dramatic shift in the market dynamics. In May 2022, the <a href="https://teamprice.com/residential-price">median list price for homes in the Austin</a> area reached a peak of $539,900. This marked a high point in the market, reflecting robust buyer demand and limited inventory that characterized much of 2021 and early 2022. However, by December 2024, the median list price had declined to $425,000, representing a substantial drop of $114,900, or 21.3%, over the 31-month period. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241223122457.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" width="" height="" data-size="," data-align="none" data-percentage="auto,auto" data-index="0" data-file-name="image.png" data-file-size="297154" data-origin="," style=""></figure></div> To better understand this trend, it is important to contextualize it within broader market conditions. The Austin real estate market experienced unprecedented growth during the years of 2020 and 2021, driven by factors such as remote work flexibility, a surge in population migration to Texas, and historically low mortgage rates. These factors contributed to a sharp <a href="https://teamprice.com/residential-price" class="on">increase in home prices</a>, culminating in the 2022 peak. The subsequent decline in median list prices can be attributed to a combination of factors. Rising interest rates beginning in late 2022 played a pivotal role in cooling the market, as higher borrowing costs reduced affordability for many buyers. Additionally, increased inventory levels throughout 2023 and 2024 helped to alleviate the supply-demand imbalance that had previously driven prices upward. This trend is further illustrated by seasonal fluctuations in pricing over the years. For instance, during the first quarter of 2024, the median list price hovered around $459,900 in February and $479,900 in March, before settling at $425,000 by December. These monthly variations highlight the typical ebbs and flows of the market, influenced by factors such as buyer activity and economic conditions. Despite the overall decline, the Austin real estate market remains dynamic. While the drop in prices may be concerning to sellers, it presents potential opportunities for buyers. A 21.3% reduction in the median list price has improved affordability, making homeownership more attainable for those who were previously priced out of the market. The question of whether the Austin market is crashing or recovering depends on perspective. The data suggests that the market has shifted toward stabilization after a period of extraordinary growth. Indicators such as declining prices, improved inventory levels, and fewer multiple-offer scenarios point to a market that is neither collapsing nor overheated, but rather adjusting to more balanced conditions. For those considering entering the Austin real estate market, whether as a buyer or seller, understanding these trends is crucial. Buyers can leverage the current conditions to negotiate better deals, while sellers may need to adjust expectations and pricing strategies to align with the evolving market landscape. In conclusion, the Austin area has seen a significant recalibration in median list prices from their peak in May 2022 to December 2024. This shift reflects broader economic changes and local market adjustments. As the market continues to evolve, staying informed about these trends will be essential for making sound real estate decisions.&nbsp;

Explore how Austin's real estate market has evolved with a 21% drop in median list prices from 2022 to 2024. Understand key factors influencing the market, from interest rates to inventory levels, and what it means for buyers and sellers

Is the Austin Housing Market Crashing or Stabilizing? Key Price Trends Explained

Understanding Austin Area Real Estate: Sellers, Buyers, and Neutral Markets December 22, 2024 : The Austin area real estate market continues to be a dynamic landscape, offering insights into both opportunities and challenges for buyers, sellers, and investors. Recent data underscores the variety of market conditions across the top 30 cities in the Austin area, categorized by the months of inventory available—a critical measure of market balance. Understanding these distinctions is vital for anyone navigating real estate in this vibrant region. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241222112737.png" alt="" width="" height="" style=""></figure></div> In December 2024, the Austin area showcased a spectrum of market types, from sellers' markets to buyers' markets, defined by months of inventory. A sellers' market, characterized by less than 4.9 months of inventory, signals high demand and limited supply. Austin, for example, reported 4.1 months of inventory, aligning with its reputation as a competitive market. Median prices in Austin stood at $599,000, with an average active listing price of $984,704, underscoring the city's strong position in the regional market. In contrast, buyers’ markets, with more than 7 months of inventory, were observed in cities such as Burnet and Dale. Burnet, with 9.42 months of inventory, had a median price of $529,500, reflecting more negotiating power for buyers. Similarly, Dale exhibited 11 months of inventory, further emphasizing its status as a buyers’ market. These conditions highlight opportunities for buyers looking to secure properties at potentially favorable terms in less competitive markets. Neutral markets, where inventory ranges from 5 to 6.9 months, were represented by cities such as Bastrop and Driftwood. Bastrop, with 5.8 months of inventory, had a median price of $424,900. Driftwood, known for its luxury appeal, showcased a median price of $1,257,500 and exactly 6 months of inventory, indicating a balanced environment between buyers and sellers. Georgetown and Cedar Park are other notable examples of sellers’ markets. Georgetown reported 3.28 months of inventory, a median price of $509,545, and a significant volume of active listings, illustrating its steady demand. Cedar Park, with just 2.09 months of inventory, reflected one of the strongest sellers' market conditions in the area, with median prices at $499,999.&nbsp;Cities like Hutto and Pflugerville also demonstrated robust sellers’ markets, with 3.25 and 2.86 months of inventory, respectively. Hutto’s median price reached $399,990, while Pflugerville’s stood at $435,000. These cities remain attractive for those seeking homes at relatively moderate price points compared to Austin. On the other hand, cities such as Smithville and Spicewood leaned toward buyers’ markets. Smithville’s inventory was at 7.36 months, with a median price of $341,900. Spicewood, with 10.08 months of inventory and a median price of $862,500, provided opportunities for buyers interested in higher-end properties with more time to negotiate.&nbsp;The data also revealed shifts in pricing dynamics across the region. Cities like Manor and Kyle showed competitive conditions with inventory levels at 3.7 and 3.33 months, respectively, while median prices were $390,103 and $363,945. Price trends across these cities reflect the nuanced nature of the Austin area market, where local factors heavily influence demand and supply. Overall, the Austin area real estate market demonstrates a diverse range of opportunities, with each city offering unique conditions. Whether navigating a competitive sellers’ market or exploring the advantages of a buyers’ market, understanding these dynamics is essential for success in real estate.&nbsp;If you are a real estate agent or thinking of becoming one, please reach out. We are expanding our team and hiring new and experienced agents. No license is required to schedule a meeting with me, Dan Price, Broker. You are welcome to call me directly to discuss opportunities at 512-963-3768.&nbsp;

Latest trends in the Austin area real estate market with data-driven insights from December 2024. Learn about market conditions, median prices, and opportunities for buyers, sellers, and agents across 30 cities

Austin Area Real Estate Market Update: December 2024 Insights

The Austin Real Estate Market: A Detailed Look at the Sold Price to List Price Ratio (2000–2024) The Austin real estate market has undergone significant changes over the years, with the <a href="https://teamprice.com/sold-price-to-list-price-ratio">sold price to list price ratio</a> serving as a critical metric to evaluate market conditions. This ratio reflects how closely the final selling price of a property aligns with its listed price. Analyzing this data from 2000 through 2024 reveals fascinating trends, offering insights into how the market has evolved. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220113951.png" alt="" width="" height="" style=""></figure></div>​In the early 2000s, the <a href="https://teamprice.com/sold-price-to-list-price-ratio">sold price to list price ratio in Austin</a> hovered in the upper 90% range. In 2000, the annual average was 99.2%, with monthly variations ranging from 98.5% to 99.6%. This stability suggested a market leaning towards balanced conditions. Moving into 2001, a slight decline was observed, with an average of 98.6% and a minimum monthly value of 97.4%. The years 2002 and 2003 showed further dips, with averages of 97.7% and 97.2%, respectively, marking a subtle cooling in the market.​From 2004 to 2006, the market began to stabilize, with ratios climbing back to averages of 97.3% to 98.1%. The upward trend indicated a modest recovery, likely fueled by growing demand and favorable economic conditions. However, the financial crisis of 2008 caused notable shifts. That year, the sold price to list price ratio dropped to a low of 95.5%, with an annual average of just 96.7%. The subsequent years, 2009 and 2010, saw minimal improvements, with averages of 96.7% and 96.5%, respectively, underscoring the market’s slow recovery.​A significant turning point emerged in the mid-2010s as Austin’s real estate market began gaining momentum. By 2013, the average ratio climbed to 98.2%, with highs reaching 98.8% during peak months. This growth continued through 2015, when the annual average hit 98.4%, supported by strong local demand and economic growth in the region.&nbsp;The most dramatic changes occurred between 2020 and 2022. In 2020, the sold price to list price ratio surpassed 100% for the first time, with a maximum monthly ratio of 100.4%. This trend accelerated in 2021, when the ratio soared to an unprecedented high of 109.5% in April, reflecting intense competition among buyers. This surge was driven by historically low mortgage rates, limited inventory, and a surge in buyer demand.​By 2022, the market began to cool as interest rates increased and affordability became a concern for many buyers. The annual average ratio dropped to 100.9%, with monthly lows reaching 96.1% by December. This cooling trend has persisted into 2023 and 2024. In 2023, the average ratio settled at 97.3%, with monthly variations ranging from 96.3% to 97.8%. The data for 2024, up to October, indicates continued stability, with an average of 97.3% and a peak of 98.0% in the spring months. Overall, the sold price to list price ratio provides a detailed lens through which the Austin market’s dynamics can be understood. Periods of economic stability, growth, and contraction are all reflected in this data. For buyers and sellers navigating the current market, understanding these trends can help set realistic expectations and guide strategic decisions. While recent years have shown a return to more balanced conditions, the data underscores the importance of staying informed in a market as dynamic as Austin’s.&nbsp;

Explore the 24-year trends in Austin’s sold price to list price ratio, revealing key insights into the local real estate market. Discover how market dynamics have evolved from 2000 to 2024, including shifts during economic highs and lows

Are Austin Sellers Getting Their Asking Price? A 24-Year Analysis

Analyzing the <a href="https://teamprice.com/price-to-rent-ratio">Price-to-Rent Ratios in Austin</a>: What the Data Reveals About Buying vs. Renting The Austin real estate market offers a wide variety of opportunities for both buyers and renters. Understanding the price-to-rent ratio for different areas is crucial for making informed housing decisions. The <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratio</a> is a calculation used to determine whether it's better to buy or rent in a specific area. This ratio is obtained by dividing the median home sale price by the annual rent. A lower ratio (below 15) indicates it’s better to buy than rent, while a higher ratio (above 20) suggests renting is more cost-effective. Ratios between 15 and 20 indicate a balanced market where the decision to buy or rent depends on individual preferences and financial goals. Let's explore how Austin's neighborhoods compare based on this data. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220114207.png" alt="" width="" height="" style=""></figure></div> In downtown Austin’s 78701 zip code, the median rent is $3,150 per month, and the median sale price is $697,000, giving a price-to-rent ratio of 18.4. This places it in a balanced market, suggesting that either buying or renting could be viable depending on your long-term plans. Moving east to 78702, the median rent is $2,635, and the median sale price is $722,500, resulting in a price-to-rent ratio of 22.8. Here, renting is more cost-effective than buying. The trend continues in 78703, where the median rent is $3,200 and the median home price is significantly higher at $1,649,500, leading to a ratio of 43. This data clearly shows that renting in this area is more financially advantageous. In contrast, some areas present better opportunities for buying. For instance, the 78725 zip code has a median rent of $1,950 and a median sale price of $315,500, resulting in a low price-to-rent ratio of 13.5. Similarly, 78724 shows a ratio of 14.7 with a median rent of $1,995 and a median sale price of $352,470. These areas suggest it’s more cost-effective to buy than rent. The same trend is seen in 78610 (Buda) with a ratio of 14.8 and 76537 (Jarrell) with a ratio of 14.5. Several neighborhoods fall within the balanced market category. In 78717 (Austin), the median rent is $2,500, and the median sale price is $487,500, leading to a ratio of 16.3. Nearby, 78747 shows a similar trend with a ratio of 16.2, based on a median rent of $2,350 and a sale price of $457,490. In Pflugerville’s 78660, the ratio is 16.7, where the median rent is $2,150 and the median sale price is $430,510. These figures suggest that whether to buy or rent in these areas depends largely on personal and financial goals. Higher-end areas such as 78746 and 78733 have much higher <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratios</a>. In 78746, the median rent is $4,900, while the median sale price is $2,220,000, resulting in a ratio of 37.8. Similarly, 78733 has a median rent of $3,600 and a median sale price of $1,667,500, with a ratio of 38.6. These high ratios indicate that renting is the more cost-effective option in these upscale neighborhoods. The price-to-rent ratios also vary widely in the surrounding suburbs. In Cedar Park’s 78613, the median rent is $2,200, and the median sale price is $499,945, resulting in a ratio of 18.9. This falls into the balanced market range. On the other hand, areas like 78634 (Hutto) offer more favorable conditions for buying, with a ratio of 15.9, where the median rent is $2,090 and the median sale price is $398,941. Georgetown’s 78626 offers a ratio of 17.1, with a median rent of $2,050 and a sale price of $420,000, also placing it in the balanced category. In summary, Austin’s price-to-rent ratios vary significantly by neighborhood. Areas like 78725 and 76537 are more favorable for buying, while high-priced areas like 78703 and 78746 lean heavily toward renting. The balanced market areas, such as 78717 and 78660, offer flexibility depending on individual needs. Understanding these ratios helps both buyers and renters make well-informed decisions in Austin's dynamic housing market​

Latest price-to-rent ratios in Austin areas to determine whether it’s better to buy or rent. This detailed analysis provides insights into Austin’s dynamic real estate market using data-driven comparisons

Austin Price-to-Rent Ratio: Where It’s Better to Buy or Rent in 2024

The Rising Cost of Homeownership in Austin: Analyzing Housing Affordability Trends (2000-2024) December 19, 2024 : <a href="https://teamprice.com/affordability">Austin housing affordability</a> has changed dramatically over the past two decades, with mortgage payments rising significantly in recent years. This trend has made homeownership more expensive for many buyers in the Austin area, especially when compared to historical norms. The data from 2000 to 2024 reveals key patterns in monthly mortgage payments, interest rates, and affordability ratios, offering insights into why Austin homeownership is becoming increasingly challenging. In 2000, the average monthly mortgage payment in the Austin area, including principal, interest, taxes, and insurance (PITI), was around $1,195. From 2000 to 2006, PITI steadily increased, reaching an average of $1,285 by 2006. This period saw relatively stable interest rates, with the median rate hovering between 2.76% and 3.38%. However, the housing market crash of 2008 temporarily reduced these payments. In 2009, the average monthly PITI dropped to $1,246, reflecting lower home prices and interest rates in Austin.&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/20241219032647.png" alt="" width="" height="" style=""></figure></div> The years following the crash saw mortgage payments fluctuate. From 2010 to 2015, monthly PITI in Austin ranged from $1,236 to $1,627, showing moderate growth. Interest rates during this period remained low, between 3.37% and 4.03%. By 2016, PITI reached $1,706, reflecting an upward trend in Austin home prices. This pattern continued, and by 2019, the average PITI in the Austin area was $1,954. Despite slight declines in 2020 due to lower interest rates, mortgage payments began to rise sharply in 2021. In 2021, monthly PITI surged to an average of $2,686, with some months exceeding $2,700. This increase coincided with rising Austin home prices and interest rates nearing 5%. In 2022, affordability hit a new low, with monthly mortgage payments peaking at $3,742 in June. The average PITI for the year was $3,476, driven by soaring Austin-area home prices and mortgage rates that exceeded 5.5%. Affordability ratios also reflected this shift. In 2022, PITI accounted for 47.19% of median household income, a sharp increase from the 26-30% observed in the early 2000s. The trend continued into 2023 and 2024, with monthly PITI in Austin remaining high. In 2023, the average mortgage payment was $3,443, and in 2024, it hovered around $3,381. Interest rates stayed elevated, with the median rate around 4.54% in December 2024. Although these figures represent a slight improvement from the 2022 peak, they still indicate significant affordability challenges compared to historical levels in Austin. Over the past 24 years, the median sold price-to-income ratio in Austin has also increased. In 2000, the ratio was 2.76, meaning a home’s median price was 2.76 times the median household income. By April 2022, this ratio peaked at 5.75, highlighting the growing gap between Austin home prices and incomes. As of December 2024, the ratio stands at 4.54, above the historical average of 3.74. This indicates that despite recent improvements, Austin home prices remain disproportionately high compared to household incomes. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241219032728.png" alt="" width="" height="" style=""></figure></div> Year-over-year changes in PITI show how volatile the Austin housing market has become. Between 2021 and 2022, monthly mortgage payments increased by over $800. In contrast, the period from 2009 to 2010 saw minimal changes, reflecting the stability after the housing crash. These fluctuations are largely driven by changes in interest rates and Austin home prices. For example, in 2021, interest rates climbed from 4.33% in January to 5.40% by June, contributing to the sharp rise in PITI. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241219032811.png" alt="" width="" height="" style=""></figure></div> <a href="https://teamprice.com/affordability">Affordability in Austin</a> has been especially strained since 2021. Before this period, the PITI-to-income ratio rarely exceeded 30%. In recent years, it has consistently remained above 40%, indicating that buyers are dedicating a larger portion of their income to housing costs. This trend is unsustainable for many households and reflects the need for either higher incomes, lower home prices, or reduced interest rates to improve affordability in Austin. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241219032840.png" alt="" width="" height="" style=""></figure></div> In summary, <a href="https://teamprice.com/affordability">housing affordability in Austin</a> has worsened significantly since 2000. Monthly mortgage payments have more than doubled, and affordability ratios have reached record highs. While homeownership in the Austin area was once manageable for most households, the current market poses challenges that many buyers struggle to overcome. Understanding these trends helps both buyers and industry professionals navigate the evolving Austin housing market and make informed decisions. This article was written on December 19 2024 and reflects data up to that date. The following charts will provide up to date information. If you have any questions, please let us know.&nbsp;

Austin-area housing affordability has changed from 2000 to 2024. Learn about rising mortgage payments, interest rates, and affordability ratios, and understand why homeownership costs have doubled over the past 24 years in the Austin real estate market

Austin Real Estate Affordability: How Homeownership Costs Have Doubled Since 2000

Austin Area Short Sale Real Estate Analysis: Trends, Data, and Insights <a href="https://teamprice.com/short-sale">Short sale properties in the Austin area</a> offer unique opportunities for buyers and sellers navigating today’s real estate market. This analysis provides a detailed look at the current short sale listings in the region, with data on prices, discounts, and trends by city and zip code. Whether you’re considering purchasing a short sale or facing the possibility of selling through a short sale, understanding the market dynamics is crucial. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217124245.png" alt="" width="" height="" style=""></figure></div> As of December 17, 2024, there are 37 <a href="https://teamprice.com/short-sale">active short sale listings in the Austin area</a>. These properties show significant price reductions, presenting potential value for buyers. The average listing price for short sale properties is $425,222, with an average price drop of $38,061, translating to an average discount of -7.3%. Short Sale Trends by City :&nbsp;The highest number of short sale listings can be found in Austin, with 9 active properties averaging a price of $425,222 and an average price drop of $38,061. In Buda, there are 4 listings with an average price of $395,224, and the average discount stands at $42,000, representing an -8.4% reduction. Killeen has 3 properties listed at an average price of $183,632, with price reductions averaging $21,333, or -8.4%. Other notable areas include Kyle, where 3 short sale properties are listed with an average price of $317,896 and an average discount of $33,104 (-7.6%). In Liberty Hill, there are 2 properties with an average price drop of $99,250, representing a substantial -21.6% reduction. Short Sale Insights by Zip Code : Short sale properties are distributed across several key zip codes, each reflecting varying levels of discount. In zip code 78642 (Liberty Hill), the average price drop is the highest at -21.6%, with properties discounted by $99,250 on average. Zip code 76549 (Killeen) shows a notable reduction of -12.6%, with an average discount of $32,000. The 78610 zip code (Buda) contains 4 listings with an average price drop of -8.4%. In 78645 (Austin), there are 2 properties averaging a price reduction of $42,500, or -6.2%. These figures highlight the diversity in short sale opportunities across the region. What is a Short Sale?&nbsp;A short sale occurs when a property is sold for less than the amount owed on the mortgage. This process typically happens when a homeowner is experiencing financial distress and needs to sell the property to avoid foreclosure. The lender must agree to accept less than the total owed amount to facilitate the sale. Buying a Short Sale: What to Expect?&nbsp;Buying a short sale can be an attractive option for those looking for potential discounts. However, the process can take longer than a traditional purchase due to the need for lender approval. Buyers must be prepared for a more extended timeline and the possibility that the lender may reject the offer or counter with different terms. Benefits of Buying a Short Sale: <ul><li>Discounted Prices: Short sales often sell below market value, offering buyers a chance to acquire property at a lower cost.</li><li>Less Competition: Unlike foreclosure auctions, short sales may attract fewer competing offers.</li><li>Opportunity for Equity: If the market improves, short sale properties may appreciate, offering potential for future equity.</li></ul> Considering a Short Sale as a Seller?&nbsp;Homeowners facing financial difficulties may consider a short sale to avoid foreclosure. A short sale can have less impact on credit compared to a foreclosure and allows for a more controlled sale process. When to Consider a Short Sale:<ul><li>Financial Hardship: If you can no longer afford your mortgage payments.</li><li>Negative Equity: If your home’s market value is less than the mortgage balance.</li><li>Foreclosure Risk: If foreclosure is imminent, a short sale can be a preferable alternative.</li></ul> Historical Analysis of Short Sale Properties :&nbsp;Looking back, the Austin area experienced a peak in short sales during the aftermath of the 2008 financial crisis. In 2011, there were 489 short sale transactions. This number gradually decreased over the years. By 2015, only 82 short sales were recorded, and by 2020, the number dropped to 3 transactions. In recent years, short sales have remained low, indicating a healthier housing market.&nbsp;In the City of Austin itself, short sales peaked at 143 transactions in 2012. Since then, the numbers have steadily declined, with only a handful recorded in the past few years.&nbsp;This historical context shows how market conditions and economic factors influence short sale activity. Current listings reflect a more stable market, though pockets of financial distress still create opportunities for buyers and options for sellers.&nbsp; <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217124119.png" alt="" width="" height="" style=""></figure></div>

How Short Sales Are Shaping the Austin Real Estate Market : detailed data on short sale properties in Austin, including current prices, discounts, and historical trends. Learn what short sales are, their benefits for buyers, and options for sellers. Stay informed with the latest short sale market analysis

Austin Short Sale Listings: 2024 Market Trends and Analysis

<a href="https://teamprice.com/appreciation-year-over-year-city">Austin Area Housing Market: Year-Over-Year Appreciation Analysis</a> December 17 2024 : The Austin area real estate market has experienced significant growth over the past two decades, with some cities standing out for their long-term appreciation rates and others facing recent price corrections. Data from 2000 to 2024 reveals clear trends in average and median sold prices across cities such as Austin, Leander, Wimberley, Burnet, and many others. This detailed analysis highlights which markets have delivered the strongest growth and identifies emerging opportunities as well as cities where prices have cooled in the past year. In Austin, the average sold price grew from $218,205 in 2000 to $751,478 in 2024, representing a total increase of 244 percent over 24 years. The median sold price followed a similar upward trend, rising from $159,900 to $572,955. This steady appreciation translates to a compound annual growth rate of approximately 5.3 percent for average sold prices and 5.5 percent for median sold prices. Austin remains a stable market with modest year-over-year growth of 0.7 percent for average prices and 0.2 percent for median prices in the most recent year. Leander emerged as one of the top performers in the Austin area housing market. The average sold price skyrocketed from $129,266 in 2000 to $571,688 in 2024, an impressive 342 percent increase over the period. Leander’s median sold price saw even stronger growth, rising from $109,633 to $485,600. Both appreciation rates reflect a compound annual growth of 6.4 percent, placing Leander near the top of Austin area cities for long-term price increases. Over the past year, Leander’s average prices grew by 3.1 percent, signaling consistent demand and robust market activity. Wimberley also stood out for its remarkable appreciation. Between 2000 and 2024, the average sold price increased by 348 percent, climbing from $156,972 to $702,450. Median prices followed closely, rising from $140,000 to $521,400. These numbers represent a compound annual growth rate of 6.4 percent for average prices and 5.6 percent for median prices. Recent performance has been equally strong, with average sold prices rising by 12.7 percent year-over-year. Wimberley’s combination of long-term appreciation and strong recent growth reflects its appeal among buyers looking for value and growth potential. Burnet has also delivered exceptional long-term results for homeowners and investors. The average sold price grew from $135,819 in 2000 to $549,005 in 2024, marking a 304 percent increase over the period. Median prices similarly increased from $107,500 to $408,383, representing a compound annual growth rate of 5.7 percent. Most notably, Burnet’s median sold prices grew by 23.8 percent over the past year, positioning it as one of the fastest-growing markets in the Austin area. While many cities have shown consistent appreciation, others have experienced short-term corrections. For example, Buda saw its average sold price drop by 9.6 percent from 2023 to 2024, moving from $448,600 to $405,406. Similarly, its median sold price fell by 9.8 percent year-over-year. Cedar Creek also recorded a decline, with average prices decreasing by 6.5 percent and median prices by 10.5 percent. Lakeway, a historically strong market, saw average sold prices drop by 5.6 percent and median prices decline by 8.4 percent over the same period. These corrections reflect changing market conditions, likely influenced by affordability challenges and shifts in demand. Manchaca delivered the strongest year-over-year performance among Austin area cities. Average sold prices jumped by 24.6 percent, while median sold prices increased by 4.9 percent. Smithville followed closely with a 15.1 percent year-over-year increase in average sold prices and an 11.1 percent increase in median prices. Both markets are experiencing renewed demand, driven by affordability relative to larger cities and attractive growth potential. Cities such as Taylor and Del Valle continue to show solid growth despite a slower pace. Taylor’s average sold price grew by 1.8 percent year-over-year, while Del Valle saw a 2.7 percent increase. These numbers suggest steady market activity in smaller cities that remain attractive for buyers seeking affordable housing options. Overall, the Austin area real estate market shows a mix of consistent long-term appreciation and localized market adjustments. Cities like Austin, Leander, and Wimberley continue to offer strong long-term returns, while markets like Burnet and Manchaca are experiencing notable short-term gains. On the other hand, cities such as Buda, Cedar Creek, and Lakeway reflect areas where prices have softened, presenting potential opportunities for buyers looking for value in a correcting market. The combination of historical appreciation data and recent trends provides valuable insights for homebuyers, sellers, and investors looking to navigate the dynamic Austin area housing market.&nbsp; <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217121950.png" alt="" width="" height="" style=""></figure></div>

Explore the Austin area housing market trends, including 24 years of appreciation data. Discover where real estate prices are rising, which cities are cooling, and what to expect for 2025

Austin Area Real Estate Market: Year-Over-Year Appreciation Trends for 2024

Year-Over-Year Real Estate Analysis: December 2024 Shows Growth in Austin MLS and City of Austin December 16, 2024 : The Austin-area housing market continues to show significant growth as we close out 2024. A year-over-year comparison for December 2024 reveals increases across various metrics for both the broader Austin MLS region and the City of Austin itself. Key indicators such as the number of active listings, months of inventory, and property prices highlight notable shifts in the market when compared to the same period in 2023. These trends suggest a market that remains dynamic, with both buyers and sellers adjusting to changing conditions. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241216125200.png" alt="" width="" height="" style=""></figure></div> For the Austin MLS region, the total number of active listings increased from 11,009 in December 2023 to 12,665 in December 2024. This represents an increase of 1,656 listings, or 15.04%. The months of inventory also rose from 3.81 to 4.39, marking a 15.10% increase. This suggests a slight cooling in market demand, with more homes available for purchase. However, prices have continued to climb. The average active listing price increased by $21,141, moving from $556,348 in 2023 to $577,489 in 2024, reflecting a 3.80% rise. The median active price saw a similar trend, increasing by $16,785 to reach $446,785, a 3.90% jump.​The sold prices within the Austin MLS region also saw upward movement. The average sold price rose from $534,962 in December 2023 to $557,108 in December 2024, an increase of $22,146 or 4.14%. The median sold price increased from $419,995 to $435,000, which is a $15,005 rise or 3.57%. These increases indicate that while more properties are on the market, buyers are still willing to pay higher prices for homes, signaling sustained demand despite the increase in inventory.​Zooming in on the City of Austin specifically, the data reflects similar trends but with some variations. The total active listings grew from 3,001 in December 2023 to 3,430 in December 2024. This increase of 429 listings represents a 14.30% rise. Months of inventory increased from 3.52 to 4.07, showing a 15.82% growth. This indicates that homes are staying on the market longer than they did a year ago, providing buyers with more options.​Property prices within the City of Austin also reflect upward trends. The average active listing price climbed by $27,077, from $773,468 in 2023 to $800,545 in 2024, marking a 3.50% increase. The median active listing price increased by $19,000, reaching $599,000 in 2024, a 3.28% increase compared to the previous year. Sold prices have similarly risen, with the average sold price moving from $742,839 to $771,340, a $28,501 increase or 3.84%. The median sold price went up by $15,000, from $565,000 to $580,000, representing a 2.65% increase.​The data highlights that while there is more inventory in the market, prices are not decreasing. Both the broader Austin MLS region and the City of Austin show consistent appreciation in home values. This suggests that demand remains strong enough to support higher prices, even with a growing number of active listings and longer inventory periods. Buyers looking for homes in the Austin market are encountering more options but are still seeing price points that reflect the region's ongoing appeal. This year-over-year analysis provides valuable insights into the Austin housing market's current state and future direction. Buyers, sellers, and real estate professionals can use this data to understand how the market is evolving and make informed decisions moving forward. As we head into 2025, these trends will be key to watching how the market adjusts to new dynamics in supply and demand.&nbsp;

Discover how Austin's real estate market evolved in December 2024 compared to 2023. Explore data on active listings, months of inventory, and price trends in the Austin MLS region and the City of Austin

Austin Real Estate Market Analysis: December 2024 Year-Over-Year Trends

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

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