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 Real Estate Market Analysis: Pending Listings Show November Uptick But Year-to-Date Remains Weak November 08, 2024 : The City of Austin’s real estate market has experienced a rollercoaster of changes in the past decade. Analyzing <a href="https://teamprice.com/residential-inventory">pending listings</a>, which serve as a key indicator of market activity, we observe significant fluctuations from 2014 through 2024. This data offers valuable insights into seasonal trends, economic shifts, and the broader dynamics impacting homebuyers and sellers in Austin. Let’s take a closer look at how these numbers have changed over time, focusing on the recent performance and trends for November 2024, as well as a comprehensive comparison with previous years.​From January to November 2024, the <a href="https://teamprice.com/residential-inventory">number of pending listings in the City of Austin</a> consistently lagged behind previous years. In fact, each month from January through June 2024 showed significantly lower figures than the strong market performance of 2021 and the recovery year of 2022. For example, June, a critical month for pending listings, had only 1,313 in 2024, down from 1,550 in 2023 and dramatically lower than the peak of 2,452 seen in June 2020. This decline highlights a cooling trend that became evident in late 2022 and persisted throughout 2023 and into the early months of 2024. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241108124835.png" alt="" width="" height="" style=""></figure></div>​Despite a slow start, November 2024 marked a turning point for the Austin real estate market. This month reported 905 pending listings, making it the best November performance in three years. By comparison, November 2023 had only 869 pending listings, while November 2022 recorded 887. This increase, albeit modest, suggests a slight rebound in buyer activity as we head into the end of the year. It is still far below the levels seen in November 2021, which had an impressive 1,711 pending listings, demonstrating that while there may be signs of improvement, the market has not yet returned to its pre-slowdown strength.​Looking back at the entire year-to-date (YTD) data for 2024, the overall performance remains weak. January 2024 started off with 1,155 pending listings, nearly identical to the previous year's start at 1,157, yet substantially lower than the 1,709 pending listings seen in January 2020. The months of March through June, traditionally the most active period for pending listings, failed to regain momentum. March 2024 recorded only 1,551 pending listings, significantly below the 2,370 recorded in March 2021. Similarly, April 2024 saw a decline, with 1,565 pending listings compared to 2,175 in April 2021.​Seasonality plays a critical role in the Austin real estate market. Typically, the summer months show the highest levels of pending listings due to increased buyer activity. However, the summer of 2024 saw lower-than-expected performance. For instance, July 2024 reported just 1,245 pending listings, a notable drop from 1,438 in July 2023 and far below the 2,308 seen in July 2020. This decline indicates that the heightened buyer demand observed during the pandemic years has cooled off considerably, potentially due to changing economic conditions, higher interest rates, and shifts in buyer preferences.​As we move towards the end of the year, it’s essential to highlight the ongoing trend of lower pending listings across the board. While November 2024's 905 pending listings mark an improvement from the past two years, the year-to-date figures still reflect the lowest cumulative total in a decade. The year 2024 has been marked by a cautious market, where both buyers and sellers seem to be waiting on the sidelines, perhaps due to economic uncertainties and fluctuating mortgage rates.​December typically experiences the lowest levels of pending listings, and based on the trends observed throughout 2024, it’s likely that this year will follow suit. In December 2023, there were 907 pending listings, showing a slight increase compared to 846 in December 2022, but still far from the peak of 1,506 in December 2020. If this trend continues, we may see a similar outcome for December 2024, reinforcing the broader narrative of a market that has yet to fully recover. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241108124848.png" alt="" width="" height="" style=""></figure></div> In conclusion, the <a href="https://teamprice.com/residential-inventory">City of Austin’s pending listings</a> data from 2014 to 2024 paints a picture of a market that surged during the pandemic years, experienced a strong recovery in 2021, but has since softened. November 2024 stands out as a relative bright spot, showing the highest number of pending listings for this month in three years. However, the overall year-to-date performance remains the weakest in the past decade, suggesting that the market still faces headwinds as we head into 2025. Continued monitoring of pending listings will be essential to gauge the direction of the Austin real estate market in the coming months.&nbsp;

November 2024 recorded the highest number of pending listings in three years for Austin, showing signs of recovery. However, year-to-date data reveals the weakest performance in a decade, highlighting ongoing challenges in the Austin real estate market

Austin Real Estate Market Update: November 2024 Shows Best Pending Listings in Three Years Despite Weak Year-to-Date Performance

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 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

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

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

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

2024 Austin Pending Property Report: A Decade-Low in August Transactions August 22, 2024 : The Austin real estate market has been a focal point of attention for many years, and recent data on pending properties provides a revealing look at current market conditions. As of August 2024, the number of pending properties in the Austin MLS stands at 4,119, marking the lowest August figure since 2014. This trend highlights significant shifts in the real estate landscape that are worth exploring in detail. Historically, the Austin real estate market has seen a consistent rise in the number of pending properties, particularly from 2014 through 2020. In August 2014, there were 4,059 pending properties, which grew to 6,694 by August 2020. This sharp increase was likely fueled by the low interest rates and the significant demand surge due to the COVID-19 pandemic, which saw many individuals seeking to purchase homes. However, this peak was not sustainable, and since 2020, the market has seen a steady decline in pending listings. By August 2021, the number of pending properties had decreased to 5,993, signaling the beginning of a market correction. This downward trend continued in the subsequent years, with 4,593 pending properties recorded in August 2022 and 4,201 in August 2023. The most recent data for August 2024 reveals a further decline to 4,119 pending properties. This number not only reflects a 2% decrease from the previous year but also a 38.5% drop from the high seen in August 2020. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240822103122.png" alt="" width="" height="" style=""></figure></div> The data from 2014 to 2024 provides a clear picture of how the Austin real estate market has evolved. The consistent growth from 2014 through 2020, followed by a gradual decline, suggests that the market is undergoing a period of adjustment. This adjustment could be attributed to several factors, including rising interest rates, economic uncertainties, and the aftereffects of the pandemic-driven boom. As the market begins to stabilize, fewer buyers are entering the market, which is reflected in the decreasing number of pending transactions. Moreover, the year-over-year comparisons highlight the magnitude of the market's downturn. While the 2% decline from August 2023 to August 2024 may seem small in isolation, it is part of a larger trend of diminishing buyer activity that has persisted over the last four years. The data also indicates that the market has not only cooled but is possibly entering a phase of normalization after an unprecedented period of growth. In terms of market cycles, the Austin real estate market appears to be transitioning from a seller’s market to a more balanced or even buyer’s market. This shift is significant for both buyers and sellers. Buyers may find themselves with more leverage as the number of pending listings decreases, while sellers might need to adjust their expectations in terms of pricing and the time it takes to close a sale. In conclusion, the Austin real estate market has seen a notable decrease in the number of pending properties as of August 2024. This decline, the lowest since 2014, reflects broader market trends and economic conditions that have impacted buyer activity. As the market continues to adjust, stakeholders will need to remain vigilant and adapt to the changing landscape to navigate the evolving real estate market effectively.​ <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240822103155.png" alt="" width="" height="" style=""></figure></div>

Discover the latest insights into the Austin real estate market, as August 2024 records the lowest number of pending properties since 2014. Learn about the trends and factors influencing this significant decline in the Austin MLS.

Austin Real Estate Market Sees Lowest August Pending Listings Since 2014

Austin-Area MLS: A Detailed Look at Peak and Current Property Values August 22, 2024 : The "Residential Peak Value Analysis" for both the Austin-Area MLS and the City of Austin presents an insightful overview of how the real estate market has adjusted from its peak periods, providing a detailed examination of various price metrics. This analysis offers a clear comparison between the broader Austin-area MLS and the City of Austin, revealing significant trends that are crucial for understanding current market 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/20240822113021.png" alt="" width="" height="" style=""></figure></div>​ Austin-Area MLS Overview : The data for the Austin-Area MLS indicates that the peak values in various metrics were reached between April 2022 and April 2024. The most recent peak in average list price occurred in April 2024 at $712,290, but since then, it has dropped by 10.0%, settling at $641,130. This decline is echoed across other key metrics, such as median list price, average sold price, and median sold price, which all saw their peaks in May 2022. Specifically, the median sold price experienced the most significant drop, falling by 19.8% from $538,000 to $431,683. Similarly, the average sold price per square foot decreased by 17.9%, and the median sold price per square foot declined by 18.6%. These trends indicate a market correction that began in mid-2022, suggesting that the rapid appreciation observed in prior years was unsustainable. The data highlights a cooling period where sellers are adjusting their expectations, and buyers are responding to changing market dynamics, possibly influenced by factors such as rising interest rates, economic uncertainties, or shifts in housing demand. City of Austin Overview:&nbsp;The City of Austin, while experiencing a similar trajectory, displays slightly different nuances compared to the broader Austin-Area MLS. For instance, the peak average list price for the City of Austin was recorded in April 2024 at $951,762. This price has since declined by 6.7%, reaching $888,107. The decline in the City of Austin's median sold price, which peaked at $680,000 in May 2022, is notable at 15.4%, bringing the current median sold price to $575,000. The per-square-foot prices in the City of Austin also mirror the broader MLS trends, with an 18.8% drop in the median sold price per square foot from its peak in April 2022. The average sold price per square foot saw a decline of 17.9% since May 2022. These figures suggest that while the City of Austin continues to command higher absolute prices compared to the broader Austin area, it is not immune to the market's cooling trends. Comparative Insights :&nbsp;When comparing the Austin-Area MLS with the City of Austin, a few key differences emerge. The City of Austin generally experienced higher peak prices and subsequently smaller percentage declines compared to the Austin-Area MLS. For example, the drop in the average list price from the peak was 6.7% in the City of Austin, compared to 10.0% in the Austin-Area MLS. However, the City of Austin's median sold price per square foot experienced a slightly larger decline (18.8%) compared to the broader area's 18.6%, suggesting a more significant correction in the valuation of properties on a per-square-foot basis within the city. Market Implications:&nbsp;The data from this analysis underscores the importance of understanding both the macro trends across the broader Austin market and the micro trends within the City of Austin. For sellers, this means adjusting expectations to align with current market conditions, while buyers may find opportunities in this market correction phase. The considerable drops from peak values, particularly in sold prices, could signal a more buyer-friendly environment, depending on individual circumstances and market segments. Overall, this analysis paints a picture of a market that has retreated from its peak exuberance, moving toward a more balanced state where both buyers and sellers need to navigate carefully.

Explore the latest trends in the Austin real estate market with an in-depth analysis of how property values have changed since their peak. This article covers key data from the Austin-Area MLS and the City of Austin, offering valuable insights for both buyers and sellers.

Austin Real Estate Market Trends: Analyzing Peak Values and Current Prices

Over the past year, the Austin-area real estate market has experienced significant fluctuations in the number of properties sold. By analyzing <a href="https://teamprice.com/sales-density-population-and-realtors">monthly sales data</a> from May 2023 to May 2024, we can gain valuable insights into the market trends affecting various cities in the region. In Austin, the <a href="https://teamprice.com/sales-density-population-and-realtors">number of properties sold</a> showed a notable decrease from 1196 in May 2023 to 1026 in May 2024, marking a 14% year-over-year decline. This downward trend was not isolated to Austin alone. Nearby cities like Cedar Creek also saw a reduction in sales, with numbers dropping from 20 in May 2023 to 16 in May 2024, reflecting a 20% decrease. Conversely, some cities experienced growth in property sales. Bastrop, for instance, saw an increase from 76 properties sold in May 2023 to 88 in May 2024, a 16% rise. Similarly, Jarrell showed a positive trend with a 31% increase, jumping from 68 properties sold in May 2023 to 89 in May 2024. The data also highlights significant variations in smaller communities. Driftwood's property sales surged by 38%, moving from 8 sales in May 2023 to 11 in May 2024. On the other hand, Del Valle faced a steep decline of 26%, with sales dropping from 19 in May 2023 to 14 in May 2024. Other notable trends include Cedar Park, which saw a modest increase of 3% in property sales, and Pflugerville, which experienced a sharp decline of 43%, dropping from 173 sales in May 2023 to just 98 in May 2024. Meanwhile, Dripping Springs enjoyed an 11% increase in sales, moving from 53 in May 2023 to 59 in May 2024. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240605082309.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="page1.png" data-file-size="192466" data-origin="," style=""></figure></div>​ The year-over-year differences varied significantly across the region. Lockhart emerged as a standout with a 45% increase in sales, climbing from 29 in May 2023 to 42 in May 2024. In contrast, Leander witnessed a substantial drop of 30%, with sales falling from 194 in May 2023 to 135 in May 2024. Georgetown also saw a decline, with sales decreasing by 16%, from 303 in May 2023 to 255 in May 2024. Smaller communities like Manchaca and Marble Falls reported increases of 33% and 100%, respectively, showcasing the diverse real estate landscape in the Austin area. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240605082346.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="page2.png" data-file-size="197129" data-origin="," style=""></figure></div> The overall trend across the region indicates a mixed market with some areas experiencing growth while others face declines. The average year-over-year difference in properties sold across all cities was -3.9%, reflecting the varied performance in the real estate sector. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240605082402.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="page3.png" data-file-size="152715" data-origin="," style=""></figure></div> Understanding these trends is crucial for buyers, sellers, and real estate professionals navigating the Austin-area market. By staying informed about the latest data, stakeholders can make more informed decisions and better anticipate market shifts.&nbsp;This article is based on data published on June 05, 2024. <a href="https://teamprice.com/insight-and-statistics">Real estate statistics</a> are constantly evolving. For the most current data and analysis, please refer to the following resources, updated weekly: <a href="https://teamprice.com/sales-density-population-and-realtors">Sales Density: Population and Realtors</a>

June 05, 2024 : Explore the detailed monthly sales data of the Austin-area real estate market from May 2023 to May 2024. Understand the trends and changes in property sales across various cities, providing valuable insights for buyers, sellers, and real estate professionals.

Real Estate Sales Analysis for Austin and Surrounding Cities

<h1>Is Austin a Buyer or Seller Market?</h1>In the landscape of real estate, understanding the market's current state is crucial for both buyers and sellers. One key metric that offers insight into this is the "Months of Inventory" (MOI). This figure represents the time it would take for all current homes on the market to sell given the current pace of sales. Analyzing MOI helps delineate whether we're in a seller's, neutral, or buyer's market. This article delves into the Austin real estate scene, dissecting the MOI across various areas to offer a comprehensive market update.&nbsp;The current analysis of Austin's real estate inventory reveals a diverse market, with significant variation across different areas. With an average MOI of 5.47, the broader Austin market appears to lean slightly towards a neutral market. However, this overarching figure masks the nuances of local micro-markets. Seller's Market: Characterized by less than 4.9 months of inventory, a seller's market indicates a higher demand for homes than the supply can meet. In such markets, sellers often enjoy the upper hand, with multiple offers driving up property prices. Homes tend to sell quickly, and buyers must act swiftly and decisively to secure their desired property.&nbsp;About half of the analyzed areas, including Hutto, Cedar Park, and Manor, feature less than 4.9 months of inventory, categorizing them as seller's markets. In these locales, sellers enjoy a competitive edge, with properties often receiving multiple offers and selling above the asking price. Buyers in these markets need to make quick, competitive bids to secure homes. The following cities are currently experiencing a seller's market: Austin (4.41 months) Bastrop (3.31 months) Buda (3.49 months) Cedar Park (2.95 months) Georgetown (3.63 months) Hutto (1.43 months) Jarrell (4.02 months) Kyle (4.25 months) Leander (3.44 months) Liberty Hill (4.58 months) Manchaca (4.00 months) Manor (2.90 months) Pflugerville (2.44 months) Round Rock (2.70 months) Neutral Market: Falling between 5 and 6.9 months of inventory, a neutral market strikes a balance between supply and demand. Neither buyers nor sellers have a distinct advantage, leading to more predictable pricing and a moderate pace of sales. This equilibrium allows for more negotiation room for both parties, creating a fair playing field.&nbsp;A significant portion of the Austin area, representing about a third of the market, falls into the neutral category. Areas like Driftwood, Liberty Hill, and San Marcos exhibit a balanced market dynamic. Buyers and sellers in these regions can expect a more measured transaction process, with neither party feeling pressured by extreme market conditions. Cities within this balanced market include: Cedar Creek (5.33 months) Dale (6.22 months) Del Valle (6.58 months) Driftwood (5.23 months) Dripping Springs (6.37 months) Elgin (6.77 months) Lockhart (5.95 months) Marble Falls (5.19 months) San Marcos (4.98 months) Taylor (5.78 months) Buyer's Market: With more than 7 months of inventory, buyer's markets are characterized by a surplus of homes for sale. This scenario tips the scales in favor of buyers, who can leverage the higher inventory to negotiate better prices, terms, and conditions. Sellers may need to be more patient and flexible to attract offers.&nbsp;The analysis identifies several areas, including Lago Vista, Smithville, and Spicewood, as buyer's markets. These areas, with their extended inventory, offer buyers the advantage of choice and negotiation power. Sellers in these markets may need to adjust expectations and strategies to attract interest. The cities in the Austin area that are currently buyer's markets include: Burnet (11.00 months) Lago Vista (11.00 months) Smithville (11.00 months) Spicewood (11.00 months) Wimberley (8.45 months) Is Austin a buyer or seller market?&nbsp;Considering the average months of inventory across various areas, the Austin real estate market currently presents a nuanced picture. While the average leans towards a neutral market, individual neighborhoods vary significantly, ranging from seller's to buyer's markets. Buyers and sellers should consider local MOI data to understand the specific market conditions they're entering. Conclusion :&nbsp;The Austin real estate market is diverse, with varying conditions across different areas. Understanding the current months of inventory is essential for navigating this complex landscape effectively. Whether you're buying or selling, a nuanced appreciation of local market dynamics can guide your decisions, ensuring you approach transactions with the right strategy and expectations. The Austin real estate scene offers opportunities and challenges, with market conditions fluctuating between seller's, neutral, and buyer's markets depending on the area. By staying informed and adapting to these conditions, participants in the Austin real estate market can navigate their transactions more successfully and strategically. As of today, March 14th, 2024, the insights and analysis presented in this article reflect the current state of Austin's real estate market, capturing the nuances of the "Months of Inventory" across various cities. It's important to note that this information is dynamic, changing daily based on fluctuations in inventory availability and sales activities over the past 90 days. For those seeking the most current and up-to-date analysis of the market conditions by city, a wealth of resources and updates can be found at <a href="https://teamprice.com/type-of-market-city">Type of Market: Navigating Central Texas Real Estate - In-Depth Insights for 30 Cities</a>. <a href="https://teamprice.com/">Team Price Real Estate</a> offers real-time insights, ensuring you have access to the latest data to make informed decisions in the ever-evolving Austin real estate landscape.​ <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240315011631.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="inventory.png" data-file-size="108638" data-origin="," style=""></figure></div>

Discover whether Austin is currently a buyer's or seller's market. Get the latest analysis on months of inventory across Austin's cities, understanding market dynamics to make informed real estate decisions. Visit us for daily updates on Austin's real estate trends.

Is Austin a Buyer or Seller Market?

Is Austin a Buyer or Seller Market? An In-Depth Analysis of Months of Inventory

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