<a href="https://teamprice.com/building-permits">Austin-Area Building Permit Data</a> Highlights Regional Growth Trends December 23, 2024 : The Austin-area metropolitan statistical area has experienced significant developments in construction activity, as evidenced by the <a href="https://teamprice.com/building-permits">latest building permit data for the Austin Area</a> released for November 2024. This report sheds light on residential and multi-unit housing trends in one of the fastest-growing regions in the country, showcasing a detailed analysis of permits issued and their broader implications. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241223043025.png" alt="" width="" height="" style=""></figure></div>​For all units combined, November permits surged to levels 93.9% above the historical monthly average, emphasizing the strong construction momentum. Year-to-date cumulative permits from January to November 2024 have been 42.6% higher than the long-term average, reflecting sustained growth across the housing market.&nbsp; Focusing on single-family homes, permits issued in November 2024 were 26.1% above the historical monthly average, reinforcing the continued demand for single-unit residential properties. Over the first eleven months of the year, cumulative permits for this category outpaced the average by 32.1%, highlighting robust activity in Austin's suburban and urban residential sectors. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241223043048.png" alt="" width="" height="" style=""></figure></div>​The market for multi-family units comprising 2 to 4-unit structures also saw an increase, with November permits registering 14.8% above average. More notably, cumulative year-to-date permits in this category soared to 76.9% above the historical average. This surge indicates a growing interest in small multi-family developments, likely fueled by a combination of investment opportunities and changing housing preferences among Austin residents. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241223043108.png" alt="" width="" height="" style=""></figure></div>​For larger-scale developments of 5 or more units, the data demonstrates sustained interest, with year-to-date cumulative permits continuing to exceed historical benchmarks. While the month-to-month numbers reflect variations, the year-to-date trends underscore Austin's appeal for developers focused on large multi-family housing projects, which are vital for addressing the region's housing demands. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241223043124.png" alt="" width="" height="" style=""></figure></div> When analyzing the data in terms of permits issued per 100,000 population, a nuanced picture emerges. For all units, November figures were 46.8% above average, underscoring Austin’s leadership in meeting housing demands despite rapid population growth. However, the 1-unit permits per 100,000 population fell slightly below average by 6.9%, suggesting that while single-family housing remains strong, its share relative to population growth may be stabilizing. Conversely, permits for 2 to 4-unit structures and 5+ unit developments show continued upward trends, highlighting diverse housing options being developed to meet the city's growing needs. This detailed analysis of the Austin-area building permits provides valuable insights into the region's evolving housing market. Developers, investors, and residents alike can use this data to understand the ongoing construction trends shaping Austin’s landscape.&nbsp;

Latest Austin-area building permit trends with November 2024 data. Learn how single-family and multi-unit housing developments are shaping the region's growth, with cumulative permits exceeding averages across all categories

Austin Housing Market 2024: Building Permit Trends and Growth 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

Historic Decline:&nbsp;<a href="https://teamprice.com/appreciation-year-over-year-lease-city">Austin’s Median Rental Price Drops</a> in 2024 After Two Decades of Growth In 2024, the Austin rental market has witnessed its most significant shift in over two decades. According to recent data, the city’s <a href="https://teamprice.com/appreciation-year-over-year-lease-city">median leased price has dropped</a> by 2% year-over-year, the largest annual decline since 2002. This is a noteworthy development for a city that has been experiencing rapid growth and soaring rental prices in recent years. The median leased price in Austin for 2024 is $2,300, a decrease from $2,350 in 2023. This 2% drop is particularly striking when compared to the substantial gains seen in 2022, when the median price surged by 18%, reaching an all-time high. The trend reversal suggests that the Austin rental market may be cooling down, perhaps due to a combination of increasing rental supply and evolving economic conditions impacting demand. In terms of <a href="https://teamprice.com/appreciation-year-over-year-lease-city">average rental prices</a>, Austin also saw a decrease. The average leased price for 2024 stands at $2,608, down 1% from $2,647 in 2023. While the reduction in the average price is not as significant as the median, it reflects a consistent downward movement. This aligns with the broader trend in the median price, showing that both metrics are indicating a softer rental market. The number of units leased in 2024 has decreased to 12,850, down from 14,874 in the previous year. This drop in leasing activity could be linked to various factors, such as affordability issues, potential renters shifting to homeownership, or the increase in remote work opportunities allowing people to seek housing options outside of the city. The lowered demand is likely putting downward pressure on prices, contributing to the observed declines in both median and average leased prices. Historically, Austin has experienced fluctuations in its rental prices, but this year’s decline is unique due to its magnitude. The last time Austin saw a drop of this scale was in 2002, when the median leased price fell by 13%. Since then, the market has generally trended upwards, with only occasional dips, such as a 1% decrease in the average leased price during 2009 and 2010, and more recently, the 1% dip in 2023. The 2024 decline, therefore, stands out as a considerable shift, signaling possible changes in the long-term rental landscape for Austin. Despite these declines, the rental prices remain high compared to a decade ago. In 2013, the median leased price was just $1,450, which is significantly lower than today’s $2,300. This increase reflects Austin’s growth and its transformation into a sought-after urban area, attracting professionals, families, and students alike. However, the current dip may suggest that the market is stabilizing, possibly offering renters a brief respite from the upward pressure on prices. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241017053458.png" alt="" width="" height="" style=""></figure></div> As we look forward, it remains to be seen whether this cooling trend will continue, or if Austin’s rental market will rebound. Factors such as interest rates, employment levels, and broader economic conditions will likely play a role in determining the direction of rental prices. However, for now, renters in Austin may find some relief as the market appears to be adjusting after years of sustained growth.&nbsp;

Discover how Austin’s rental market is changing in 2024, with a 2% drop in median leased prices marking the largest decline since 2002. Learn about the factors contributing to this shift in one of the nation’s hottest housing markets

Austin’s Median Rental Prices Drop by 2% in 2024: Largest Decline in Over 20 Years

Overview of 2024 Building Permit Activity As of August 2024, the total number of <a href="https://teamprice.com/building-permits">building permits</a> issued across all units in the Austin area was above historical averages, reflecting continued robust construction activity in the region. Through August, the cumulative total of building permits was 39.2% higher than the long-term average, suggesting sustained demand for residential development. However, there were month-to-month fluctuations, with certain months performing below expectations, such as April and May. This pattern mirrors some volatility in the Austin real estate market, where both demand and economic conditions influence building activities. Breakdown by Units Single-Unit Permits: The demand for single-family homes in Austin has continued to drive a significant portion of <a href="https://teamprice.com/building-permits">building permit applications</a>. The data shows a steady issuance of permits for single-unit properties, with the year-to-date figures remaining stable compared to previous years. Although not dramatically above historical averages, the issuance of permits for single-unit properties reflects a steady housing market. 2-4 Unit Permits: Permits for 2-4 unit developments have shown a modest increase compared to the previous year but still represent a smaller share of total building permits. This category typically reflects smaller multifamily developments, such as duplexes or triplexes, which are often favored in urban areas for their affordability and density. 5+ Unit Permits: Larger multifamily developments (5 or more units) have shown significant growth in 2024, particularly during the summer months. August, in particular, saw a marked increase in permits issued for 5+ unit buildings, reflecting the ongoing demand for apartments and condominium developments in the Austin area. This trend aligns with the growing population and the need for higher-density housing solutions in the metropolitan area. Month-by-Month Trends in 2024 The report provides a monthly breakdown of building permit issuance, allowing for a closer examination of construction trends. Some key observations include: January: The year began with a relatively strong issuance of building permits, with over 3,000 permits issued, reflecting a continuation of momentum from 2023. April-May Decline: In contrast, April and May saw a drop in permit issuance compared to the early months of the year. These months registered permit counts closer to the historical averages, suggesting a temporary cooling of the market. Summer Surge: The summer months of July and August saw a resurgence in building activity, with permit numbers spiking, particularly in the multifamily housing sector. August was notable for being 41.4% above the long-term average for that month, emphasizing the strong seasonal demand for housing in the Austin area. Population-Adjusted Trends One significant feature of the report is its adjustment of building <a href="https://teamprice.com/building-permits">permit data relative to the population size</a> of the Austin area. This adjustment is crucial in understanding whether the level of building activity is proportional to the city's growth.&nbsp;The report notes that permits issued per 100,000 people for the month of August 2024 were 7.1% above the historical average, indicating that, on a per capita basis, construction activity is outpacing population growth.&nbsp;Cumulatively, from January through August 2024, the number of permits per 100,000 people was 4.3% above average, further underscoring that Austin is experiencing an above-average rate of construction relative to its population growth. Historical ContextLooking at the historical data, several long-term trends emerge:Early 2000s Boom: The Austin area saw a sharp increase in building permit issuance during the early 2000s, peaking in 2006. This period was characterized by rapid population growth and economic expansion, leading to heightened demand for housing.2008 Recession Impact: The global financial crisis in 2008 significantly impacted the housing market in Austin, as reflected in the sharp decline in building permits during 2009 and 2010. The report shows that the issuance of permits during this period fell dramatically, with some months seeing as few as 200-300 permits issued.Post-Recession Recovery: After bottoming out in 2010, building permit activity slowly recovered. The recovery gained pace after 2012, with 2020 being a particularly strong year for permits issued. This period of growth coincides with Austin’s rise as a major tech hub, drawing an influx of new residents and spurring housing demand.Pandemic Surge: 2020 and 2021 were exceptional years for building permit issuance, reflecting the strong demand for housing during the pandemic. The report highlights that these years were well above the long-term average, with certain months in 2021 seeing record-breaking numbers of permits issued. Current Economic FactorsThe surge in <a href="https://teamprice.com/building-permits">building permit activity in 2024</a> must also be understood in the context of broader economic conditions. Several factors are likely influencing the continued high demand for residential construction in Austin:Population Growth: Austin remains one of the fastest-growing metropolitan areas in the United States, attracting both domestic and international migrants. The influx of new residents has put pressure on the housing market, driving both prices and the need for new construction.Job Market Strength: Austin’s economy continues to perform strongly, particularly in the tech sector, where companies such as Tesla, Apple, and Oracle have expanded operations. The strength of the local job market is a key driver of housing demand, as new workers relocate to the area.Interest Rates: While rising interest rates have cooled some housing markets across the U.S., Austin’s demand for housing remains resilient. However, the report notes some fluctuations in building permit issuance, which may reflect the uncertainty caused by changing interest rates. Higher borrowing costs can dampen demand for new housing construction, especially in more expensive markets. Conclusion :&nbsp;The <a href="https://teamprice.com/building-permits" class="on">Austin-area building permit data</a> for 2024 indicates that the region is experiencing robust construction activity, with the issuance of permits well above historical averages. Both single-family homes and larger multifamily developments are contributing to the growth, reflecting the diverse housing needs of the region’s expanding population. While there have been some monthly fluctuations, the overall trend points to a resilient market, bolstered by strong economic fundamentals. As Austin continues to grow, the demand for new housing is likely to remain strong, with building permits serving as a key indicator of future development and real estate trends in the region. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240927120734.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 building permit 1.png" data-file-size="361223" data-origin="," style=""></figure></div>​ <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240927120745.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-align="center" width="" height="" data-size="," data-percentage="auto,auto" data-index="1" data-file-name="austin building permit 2.png" data-file-size="130231" data-origin="," style=""></figure></div> <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240927120805.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-align="center" width="" height="" data-size="," data-percentage="auto,auto" data-index="2" data-file-name="austin building permit 3.png" data-file-size="129337" data-origin="," style=""></figure></div>

Explore Austin's 2024 building permit data with a detailed analysis of trends in single-family, 2-4 unit, and 5+ unit developments. Learn how construction activity is responding to the city's growing housing demand, with permits issued through August showing a 39.2% increase over historical averages

Austin Building Permits Surge in 2024: New Data Shows Strong Growth

2024 Sees 21.4% Fewer Sales Between January and September September 23, 2024 : The Austin real estate market has seen a noticeable slowdown in 2024. From January to September, the <a href="https://teamprice.com/sales-density-population-and-realtors">number of properties sold in the Austin Area</a> per 100,000 population dropped by 21.4%. This decline marks a significant change in a region that has been known for its booming real estate activity. The latest data indicates that the real estate market in Austin is cooling, reflecting broader market trends that may affect 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/20240923011922.png" alt="" width="" height="" style=""></figure></div> Between the beginning of the year and September, <a href="https://teamprice.com/sales-density-population-and-realtors">cumulative sold properties</a> per 100,000 population have decreased compared to the same period in previous years. The dip in sales activity, particularly this 21.4% decline, has brought sales volume below the historical average. While some months showed signs of slight improvement, the overall downward trend has been clear. For instance, certain months experienced minor upticks in property sales, with gains of 2.4% or more. However, these gains were insufficient to offset the overall decrease. Historical trends in Austin show that the city has experienced fluctuating real estate activity over the past two decades. In years of robust economic growth and lower interest rates, the market saw significant increases in <a href="https://teamprice.com/sales-density-population-and-realtors">sales density</a>. However, 2024 presents a different picture. Buyers seem more hesitant, likely impacted by increased mortgage rates and concerns about affordability. Even though there have been occasional periods of market stabilization, the cumulative figures for 2024 reflect a consistent cooling trend. The 21.4% decrease is significant when considering the historical context. Over the past few years, Austin’s real estate market has been a hotspot for growth, with strong demand from buyers locally and from out of state. This year’s slowdown indicates that fewer properties are being sold, which could be attributed to changing economic conditions or potential shifts in buyer behavior. At the same time, the broader national market has seen similar slowdowns, reinforcing the idea that the real estate sector is entering a more cautious phase. While the cumulative decline from January to September is notable, there are still moments of optimism. Certain periods experienced growth, with <a href="https://teamprice.com/sales-density-population-and-realtors">sales density</a> increasing by over 12% during specific months. These spikes suggest that while the overall trend is downward, there are pockets of activity that show buyers are still engaging with the market. However, these short-term gains are not enough to reverse the broader 21.4% drop seen over the entire nine-month period. The long-term outlook for Austin's real estate market will depend on various factors, including interest rates, buyer sentiment, and affordability. While the 2024 slowdown presents challenges, the historical resilience of Austin’s market suggests that future growth is still possible once current economic pressures ease. For now, though, the data points to a market that is operating below its typical performance levels, and both buyers and sellers will need to adjust their strategies accordingly.

Discover key insights into Austin's real estate market with data showing a 21.4% decline in sold properties per 100,000 population from January to September 2024. Learn about the current market conditions and what the future may hold for buyers and sellers in this rapidly evolving market.

Austin Real Estate Market Sees 21.4% Decline in 2024: January to September Data

Austin Real Estate Market Trends: A Deep Dive into Sold Properties and Realtor Performance September 23, 2024 : The Austin real estate market has been experiencing a significant transformation, as evidenced by recent <a href="https://teamprice.com/sales-density-population-and-realtors">data on sold properties</a> and Realtor performance in the area. From January through September 2024, the number of sold properties in the six-county area was projected to reach 23,423, reflecting a 14.4% drop year-over-year. This decline highlights the continued downward trend in sold properties, marking a 10.1% decrease below the average and a stark comparison to previous years. In particular, the month of September is expected to show a drop of 14.4% compared to the same period in 2023, contributing to an overall challenging year for real estate transactions. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240923062352.png" alt="" width="" height="" style=""></figure></div> The <a href="https://teamprice.com/sales-density-population-and-realtors">detailed analysis of sold properties</a> per 100,000 residents paints a clearer picture of the market’s current state. As of September 2024, the figure stands at 82.36, down from 105.46 the previous month. This decline underscores the cooling of the market as fewer properties are changing hands relative to the local population. Comparatively, the market is performing better than in 2010, with sold properties per 100,000 residents at that time hovering at lower levels. However, the drop is significant enough to impact market dynamics and decision-making for both buyers and sellers. While the overall sales figures are declining, the number of active Realtors in the Austin-area MLS continues to grow, albeit with some fluctuations. As of September 2024, there are 19,979 Realtors registered in the Austin-area MLS. This is a 6.1% decrease from the September 2022 peak, indicating that some Realtors may be exiting the profession in response to the current market conditions. However, the market remains saturated, which can be seen in the ratio of sold properties per 1,000 Realtors. This metric has dropped to 104.4, down from 133.7 in August 2024 and marking the lowest level for September on record. This indicates that fewer properties are being sold per Realtor, increasing competition among agents for available listings. Year-to-date performance shows that <a href="https://teamprice.com/sales-density-population-and-realtors">cumulative sold properties</a> are 27.9% below the long-term average. Between January and September, the sold properties per 1,000 Realtors totaled 1,199, reflecting a year-over-year decrease of 0.8%. This suggests that despite the high number of Realtors in the market, overall productivity has decreased, and agents are selling fewer properties compared to previous years. The 39.4% drop below the average sold properties per 1,000 Realtors for September further confirms that this month will be among the slowest in recent history. Despite these market challenges, there is some optimism within certain real estate circles. Some brokerages, such as Team Price Real Estate, have seen positive year-over-year growth, with a nearly 10% increase in transactions while maintaining a steady agent count. This performance is notable given the broader market slowdown and speaks to the importance of strategic market positioning and strong agent performance in navigating difficult market conditions. The data-driven approach used to project future sales in the Austin real estate market is also worth noting. By analyzing 20 years of historical data, adjustments for population growth, and accounting for seasonal sales trends (such as the surge in sales during the last seven days of the year), real estate professionals can create highly accurate projections. With an average error margin of just 1% to 3%, these projections provide valuable insights into future market trends, helping buyers, sellers, and agents make informed decisions. As the Austin real estate market continues to evolve, it remains crucial for industry professionals to closely monitor data on sales density, Realtor performance, and population trends. While the overall market may be experiencing a downturn, opportunities still exist for those who can adapt to the current conditions and leverage the available data to their advantage. <div class="se-component se-video-container __se__float-center" style="width: 100%; min-width: 100%;"><figure style="width: 100%; height: 56.25%; padding-bottom: 56.25%;"><iframe src="https://www.youtube.com/embed/Y-0CDuFdRKI" width="100%" height="56.25%" style="width: 100%; height: 100%;"></iframe></figure></div> ​

Discover detailed insights into the Austin real estate market trends in 2024. Explore the data on sold properties, Realtor performance, and market density, with a deep dive into key statistics that shape the Austin-area MLS. Learn how these trends impact buyers, sellers, and Realtors in a competitive market

Austin Real Estate Market in 2024: A Data-Driven Analysis of Sold Properties

Withdrawn and Expired Listings in Austin MLS: A Look into September 2024 September 06, 2024 : The Austin real estate market has seen significant changes in both withdrawn and expired listings as we head into the latter part of 2024. These two categories of property listings—withdrawn and expired—reflect distinct scenarios in which homes are removed from the market, either by the seller's choice or through an expired contract. The numbers for August 2024 are based on actual data, while the projections for September 2024 are derived from a proven analytics model, offering insight into current market trends and what to expect in the coming months. Withdrawn Listings :&nbsp;Withdrawn listings occur when a seller chooses to remove their property from the market before the listing agreement expires. The most recent data indicates a noticeable rise in these types of listings in 2024. For September 2024, the number of withdrawn listings is projected to reach 1,472, a sharp increase from 974 in September 2023. This significant 51.1% year-over-year increase highlights a trend that has been building over the past several months. In August 2024, there were 1,236 withdrawn listings, compared to 1,025 in August 2023, representing a 20.6% increase. The historical context further amplifies the growth in withdrawn listings. In September 2014, for example, there were 584 withdrawn listings. By September 2024, that number is projected to more than double, indicating a larger volume of properties being taken off the market. This growth trend has been particularly pronounced since 2020, where economic factors, changes in interest rates, and fluctuating buyer demand have influenced sellers' decisions to pause their listings. The rise in withdrawn listings can also be attributed to many sellers opting to relist their properties during the traditionally stronger “selling season” between February and April, expecting better outcomes during this 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/20240906114902.png" alt="" width="" height="" style=""></figure></div> Expired Listings :&nbsp;Expired listings, on the other hand, represent properties where the listing agreement has reached its expiration date without a sale being completed. The data shows a similar upward trend in expired listings for 2024. September 2024 is projected to see 754 expired listings, up from 508 in September 2023, marking a 48.4% increase. As with withdrawn listings, the rise in expired listings has been steady throughout the year. In August 2024, there were 721 expired listings, up from 475 in August 2023, reflecting a 51.8% year-over-year jump. Looking back at historical data, expired listings in September 2014 stood at 294. Over the past decade, expired listings have steadily increased, with significant spikes occurring in recent years. The rise in expired listings could indicate that some properties are being listed at prices that are too high for the current market, or that buyers are becoming more cautious in their purchasing decisions. As with withdrawn listings, many of these expired listings may reappear in early 2025 as sellers aim to relist during the more favorable months of February through May. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240906114915.png" alt="" width="" height="" style=""></figure></div> Anticipating Market Shifts in 2025 :&nbsp;Given the trends seen in withdrawn and expired listings, the Austin real estate market is likely to see an increase in available properties during the early months of 2025. Many sellers who have withdrawn their properties from the market in 2024 plan to relist them during the “selling season” of February through April, when demand tends to be higher. As a result, we can expect a notable uptick in the number of active listings between February and May 2025, as these sellers aim to capitalize on more favorable market conditions. In conclusion, both withdrawn and expired listings have seen significant increases throughout 2024, reflecting the evolving dynamics of the Austin real estate market. Sellers are adjusting their strategies, either by withdrawing their homes to relist later or letting their listings expire in the hopes of achieving better results in the coming months. As we approach 2025, it will be crucial to monitor these trends and anticipate shifts in the market that may offer new opportunities for both buyers and sellers.

September 06, 2024 : Explore the latest trends in withdrawn and expired listings for the Austin MLS in September 2024. Discover how these numbers are shaping the real estate market, with projections for early 2025 as sellers plan to relist during peak selling season

Why Withdrawn and Expired Listings Are Rising in Austin MLS: September 2024 Analysis

ArticleDirectorySimple

<h2>Austin housing market 2024</h2>Find articles about Real Estate relating to this article tag.

Austin housing market 2024

Austin Housing Market 2024: Building Permit Trends and Growth Analysis

78730: Austin’s Top Appreciating Zip Code in 2024

Austin’s Median Rental Prices Drop by 2% in 2024: Largest Decline in Over 20 Years

Austin Building Permits Surge in 2024: New Data Shows Strong Growth

Austin Real Estate Market Sees 21.4% Decline in 2024: January to September Data

Austin Real Estate Market in 2024: A Data-Driven Analysis of Sold Properties

Why Withdrawn and Expired Listings Are Rising in Austin MLS: September 2024 Analysis

Search

About

Company

Explore

Resources

Account