Austin Real Estate Trends: Withdrawn and Expired Listings Shape Market Inventory in 2024 November 01, 2024 : The Austin real estate market has seen a significant shift in recent months, with inventory levels falling below 5 months for the first time since May 2024. This decrease in available housing inventory reflects dynamic changes in market behavior and supply adjustments, particularly due to a rise in withdrawn and expired listings across the six-county Austin Metropolitan Statistical Area (MSA), which includes Travis, Williamson, Bastrop, Hays, Caldwell, and Burnet counties. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241101104816.png" alt="" width="" height="" style=""></figure></div> Inventory trends have shown considerable fluctuation in 2024. The year began with a relatively low inventory of around 3.4 months, a level often associated with a balanced real estate market. As the spring months progressed, inventory levels began to increase, hitting 4.0 months in early April and climbing consistently through May, ultimately reaching 5.38 months in June. This rise signaled a cooling market, where new listings outpaced buyer demand, leading to slower absorption rates and a buildup of active properties. However, as the summer and early fall months unfolded, the Austin MSA experienced a different trend: a sharp increase in the number of listings withdrawn from the market or allowed to expire without a sale, directly impacting the months of inventory. In October 2024 alone, there were 1,036 withdrawn listings and 652 expired listings in the Austin MSA, a significant rise compared to earlier months. For comparison, January 2024 saw 585 withdrawn and 410 expired listings. This substantial growth in withdrawn and expired listings suggests that sellers are increasingly cautious about market conditions. This pattern first became prominent in the summer, with July seeing nearly 1,000 withdrawn listings and August reaching 1,085, coupled with rising expired listings that peaked in September at 679. As a result, many sellers opted to pull their homes from the market rather than leave them available without securing offers, a trend that continued through October. While the Austin area has witnessed a slight increase in pending sales year-over-year, the significant rise in withdrawn and expired listings has played a larger role in shaping the current market inventory. This combination of stable demand and decreasing active listings has brought months of inventory down to 4.97 in November, a notable change from the highs seen earlier in the year. In addition to indicating a potentially more competitive market for buyers, this decrease in months of inventory reflects a shift from the cooling conditions of the summer months, as the number of properties available for sale declines. From an annual perspective, 2024’s average months of inventory has been 16.1% higher than 2023, signaling a generally higher inventory throughout the year. However, the recent decline suggests that supply may become increasingly limited as the market heads toward the end of the year. October's rise in withdrawn and expired listings has clearly impacted the months of inventory, with sellers showing reluctance to keep listings active during uncertain conditions. The number of listings pulled from the market reflects both sellers' cautious approach and the broader seasonal cycles that typically affect real estate activity in the fall. As the Austin MSA real estate market closes the year, the trend toward lower inventory levels could have multiple implications for buyers, sellers, and the market as a whole. Fewer homes on the market can lead to increased competition among buyers, while sellers may face renewed confidence if inventory continues to decline. By tracking months of inventory, active listings, and the status of withdrawn and expired properties, both buyers and sellers in the Austin area can gain a clearer understanding of current market cycles and trends. With the months of inventory now below 5 months, the Austin real estate market stands at a pivotal moment, one marked by shifting supply and demand dynamics that will likely influence decisions moving into 2025.&nbsp;

Discover the latest trends in the Austin real estate market as inventory levels fall below 5 months for the first time since May 2024. Explore how increased withdrawn and expired listings across Travis, Williamson, Bastrop, Hays, Caldwell, and Burnet counties are impacting months of inventory, shaping a more competitive environment for buyers and sellers alike

Austin Real Estate Inventory Falls Below 5 Months as Withdrawn and Expired Listings Surge in 2024

Austin MLS Reports 10,733 Withdrawn &amp; Expired Listings by October 2024: What It Means The real estate market in the Austin area is seeing significant changes in 2024, particularly when it comes to properties that have been withdrawn or expired from the Multiple Listing Service (MLS). Between January and October 10, 2024, the cumulative total of withdrawn and expired listings has reached an impressive 10,733, marking a notable increase of 5.7% compared to the same period last year. This figure is anticipated to grow as more listings are added for the rest of October, with an expected rise of at least another 500 listings before the month ends. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241010103847.png" alt="" width="" height="" style=""></figure></div> This trend reveals a growing challenge in the Austin real estate market, especially as it stands 7.9% above the historical average for withdrawn and expired listings. Withdrawn listings occur when a seller or listing broker decides to remove a property from the MLS. While the listing agreement may still be active, the property is withdrawn from public viewing, or the agreement might be prematurely ended. An expired listing, on the other hand, happens when the listing agreement has reached its term without the property selling, signaling that it didn’t find a buyer within the specified timeframe. The 2024 numbers also represent a significant threefold increase in withdrawn and expired listings since 2021. This change is likely a reflection of broader shifts in market conditions, such as rising interest rates and evolving buyer behaviors that have impacted overall demand and affordability. Sellers in the Austin area may be finding it more challenging to attract buyers, potentially prompting a higher number of properties to be removed from the market or left unsold as listing agreements expire. These elevated levels of withdrawn and expired listings suggest a growing unease among sellers, as properties are staying on the market longer or are unable to attract buyers. This situation could be signaling a shift towards a more balanced or even cooling market, compared to the rapid growth seen in previous years. For those watching the Austin real estate market, these trends indicate that the conditions are becoming less favorable for sellers, with an increasing number of properties not reaching a successful sale. As October progresses, it will be essential to keep an eye on how these numbers evolve. Given the current pace, it is plausible that withdrawn and expired listings will continue to climb. For buyers, this trend could potentially create more opportunities as sellers reassess their listing strategies, while sellers may need to adjust their expectations in response to a shifting market landscape. The data from 2024 provides a clear picture of the evolving real estate dynamics in Austin and offers valuable insights for anyone involved in the market.&nbsp;​

Explore the latest data on Austin's real estate market, where withdrawn and expired listings have surged to 10,733 by October 2024. This article examines the causes and implications for buyers and sellers, as listings are up 5.7% year-over-year, marking a threefold increase since 2021. Find out what this means for Austin’s market outlook

Why Withdrawn and Expired Listings Are Rising in Austin: October 2024 Update

How <a href="https://teamprice.com/residential-price">Austin Real Estate Prices</a> Have Changed Since Their Peaks – October 2024 Report As of October 10, 2024, the Austin real estate market is showing noticeable changes in property values compared to past peak periods. This analysis dives into the shifts in average and median list prices, sold prices, and price per square foot across the Austin-area MLS and the city of Austin specifically. Understanding these trends is essential for both buyers and sellers as they navigate a market that has seen significant adjustments over the past two 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/20241010010610.png" alt="" width="" height="" style=""></figure></div> Starting with the Austin-area MLS, the average list price reached its highest point in March 2023, with properties listed at an average of $708,959. Since then, there has been a slight decrease of 3.3%, bringing the current average list price down to $685,908. Meanwhile, the median list price peaked earlier, in May 2022, at $539,900. Today, it stands at $465,000, which is a substantial drop of 13.9% from the peak. This decline reflects a broader cooling in list prices as sellers adjust to changing market dynamics. In terms of actual selling prices, the Austin-area MLS recorded its highest average sold price in May 2022, when properties sold for an average of $664,515. As of now, the average sold price is $587,771, marking an 11.5% decrease. Similarly, the median sold price also reached its peak in May 2022 at $538,000, but it has since fallen 19.1%, to $435,000. These numbers indicate that the market has shifted from its height, with sellers achieving lower prices than they were a year or two ago. The price per square foot, a key metric for buyers comparing different properties, also highlights the market’s changes. For the Austin-area MLS, the average sold price per square foot hit a peak of $324 in April 2022. Today, it has dropped to $259, representing a 20.1% decrease. The median sold price per square foot also peaked in April 2022 at $280 and has since fallen to $224, a 20% decrease. These declines suggest that not only are homes selling for less overall, but they also offer more space per dollar than they did at the peak. Within the city of Austin itself, there are similar trends, although the specifics differ. The average list price as of October 2024 stands at $991,906, which remains the peak value for this metric. In contrast, the median list price peaked in May 2022 at $658,589 and has since declined by 8.9% to $599,950. This shows that while some high-value listings are holding their price, the typical property is being listed for less than it was during peak market conditions. The city’s average sold price reached its highest point in May 2022, at $847,583, but has since dropped by 5.4% to $801,856. Additionally, the median sold price also peaked in May 2022 at $680,000, now standing at $602,500 after an 11.4% decrease. These numbers indicate that, like the broader Austin-area MLS, the city of Austin has also seen a cooling in terms of what sellers can achieve at closing. Price per square foot trends in the city of Austin highlight even more significant shifts. The average sold price per square foot was at $442 in May 2022 but is now down to $358, a 19% decrease. The median sold price per square foot has seen an even steeper decline from $393 to $224, marking a 20.9% reduction. These figures are crucial for buyers who are looking for value and are comparing properties on a per-square-foot basis. In summary, Austin’s real estate market has shifted considerably from its peak values, with prices adjusting across various metrics. This trend is evident both in the Austin-area MLS and in the city itself. As buyers and sellers continue to adjust to these new market conditions, these insights provide valuable context for understanding the current real estate landscape in Austin​

Discover the latest trends in Austin real estate as of October 10, 2024. This detailed report examines the changes in average and median list prices, sold prices, and price per square foot, offering valuable insights into how the market has shifted from its peak values

Austin Real Estate Price Trends: October 10, 2024 Analysis of Peak Value Declines

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

Why 2024 Is a Standout Year for Austin Real Estate Listings As of September 17th 2024, the Austin real estate market continues to show dynamic activity, with <a href="https://teamprice.com/new-listing-to-pending-ratio">new listings reaching a historic high</a>. Between January and September 2024, 37,473 new listings entered the market, positioning this year as the third-highest on record for new home listings during this period. This is a notable achievement, especially when considering that the cumulative number of new listings is 14.1% above the historical average, a clear indicator of the robust market activity and increasing supply 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/20240917121325.png" alt="" width="" height="" style=""></figure></div> Over the years, Austin’s real estate market has experienced fluctuations in the number of new listings. In 2000, the market saw just 21,173 new listings from January to September. Fast forward to 2024, and the number has almost doubled. Looking at specific years, we observe consistent growth, with peaks and valleys reflective of various market conditions. For instance, in 2001, new listings rose by 34.3% from the previous year, reaching 28,445 listings. This upward trend continued until 2006, where listings peaked at 34,444, before a significant drop of -8.6% in 2008 to 31,498 listings, likely reflecting the broader economic challenges of that period. Interestingly, despite a few declines, the Austin real estate market has shown resilience over the years. In 2009, new listings fell by -13.7%, and again in 2011 by -13.8%, but these were followed by rebounds, with listings growing 8.2% in 2010 and 9.0% in 2012, demonstrating how market dynamics can shift in response to external factors. The current year’s performance is particularly impressive, especially as we move through the final days of September. The 2024 cumulative listings of 37,473 already surpass those of several previous years, such as 2019’s 35,808 and 2020’s 36,291. With more listings expected before the end of the month, projections suggest that 2024 could surpass 37,796, recorded in 2021, which would make this year the second-highest on record. The steady <a href="https://teamprice.com/new-listing-to-pending-ratio">increase in new listings</a> is a critical factor for both buyers and sellers in Austin’s competitive real estate market. For buyers, the increasing supply may offer more options and potentially better pricing, while for sellers, the data points to a continuously active market with sustained interest in properties. With Austin's real estate market continuing to evolve, understanding these data trends is essential for making informed decisions. Whether you are a buyer, seller, or investor, tracking new listings and comparing them to previous years provides a clear picture of the market's health and trajectory. As we approach the end of September, all eyes will be on the final count of new listings to see if 2024 will indeed claim the spot as the second-highest year for new listings on record.

The Austin real estate market is seeing record-breaking activity in 2024, with 37,473 new listings from January to September, marking the third-highest on record and 14.1% above the average. Learn how the market is shifting and what this means for buyers and sellers as we approach year-end.

Austin Real Estate Sees Record Listings in 2024: 14.1% Above Average

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

2024 Austin Real Estate Activity Index: What the Numbers Reveal​August 19, 2024 : As the real estate market in Austin, Texas, continues to evolve, it is crucial to understand the current dynamics shaping the industry. One key metric that offers insight into market activity is the <a href="https://teamprice.com/real-estate-glossary/activity-index" style="font-size: 18px;">Activity Index</a>, which measures the percentage of pending listings compared to the total number of active and pending listings. This index provides a snapshot of the market's momentum, indicating whether buyer activity is increasing or declining.​In 2023, the Austin-area real estate market exhibited significant activity, peaking on April 29 with an <a href="https://teamprice.com/real-estate-glossary/activity-index" style="font-size: 18px;">Activity Index</a> of 36.66%. This figure was reflective of a market where buyer interest was high, and properties were being absorbed at a rapid pace. However, as the year progressed, the Activity Index showed a gradual decline, signaling a reduction in market activity. By November 2023, the index had dropped noticeably, underscoring a shift in market conditions. Fast forward to 2024, and the story has taken a different turn. The Activity Index on March 21, 2024, was recorded at 30.78%, already lower than the peak levels observed in 2023. This early indication of reduced activity set the tone for the rest of the year. As of August 19, 2024, there are 15,191 active listings on the Austin-area MLS, with 4,077 properties pending. This gives us an Activity Index of 21.2%, a stark contrast to the higher levels seen the previous year. The current index not only highlights a continued decrease in buyer activity but also suggests a market that may be becoming more saturated with active listings and fewer properties moving to the pending stage. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240819070737.png" alt="" width="" height="" style=""></figure></div> The downward trend is further emphasized when comparing the 2023 and 2024 Activity Indexes directly. The difference between the overall Activity Index in 2023, which averaged around 28.3%, and the current 2024 index of 21.2%, represents a significant drop of approximately 25.3%. This decline is indicative of changing market conditions, where there may be more inventory available but less urgency among buyers to make purchases. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240819070135.png" alt="" width="" height="" style=""></figure></div>​ This analysis of the Austin-area real estate market through the lens of the <a href="https://teamprice.com/real-estate-glossary/activity-index">Activity Index</a> reveals a market in transition. The data points to a decrease in buyer activity, which could be attributed to various factors such as rising interest rates, changes in buyer sentiment, or an increase in housing supply. As we move further into 2024, monitoring the Activity Index will be essential for both buyers and sellers to navigate the evolving market landscape effectively. ​​

August 19, 2024 : Latest trends in the Austin real estate market with an in-depth analysis of the Activity Index. Discover how the 2024 market is evolving compared to 2023 and what this means for buyers and sellers.

Austin Real Estate Market 2024: Activity Index Reveals Decline

Understanding the Current State of Austin's Real Estate Market August 08, 2024 : The Austin real estate market has seen significant changes over the past few years. The <a href="https://teamprice.com/residential-price">Residential Peak Value Analysis</a> provides a detailed look at the market trends, highlighting the shifts in property values from their peak times to the present day. This analysis is essential for anyone involved in the Austin real estate market, offering a clear picture of the current state and historical performance of residential properties. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240808040420.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="peak analysis.png" data-file-size="192646" data-origin="," style=""></figure></div> In the broader Austin-area MLS, the average list price reached its peak in April 2024, with properties listed at an average of $713,548. Today, this value has dropped to $649,723, a decline of $63,825 or 8.9%. The median list price saw its peak in May 2022 at $539,900 but has since fallen to $465,000, showing a decrease of $74,900 or 13.9%. Similarly, the average sold price peaked in May 2022 at $664,515, but the current average is now $571,741, a reduction of $92,774 or 14%. The median sold price, which was highest in May 2022 at $538,000, has decreased to $429,453, marking a significant drop of $108,547 or 20.2%. The analysis also looks at the price per square foot, providing a granular view of the market. In April 2022, the average sold price per square foot peaked at $324. Currently, this figure stands at $265, reflecting a decrease of $59 or 18.2%. The median sold price per square foot, which was at its highest in April 2022 at $280, has dropped to $232, a reduction of $48 or 17.1%. Focusing on the City of Austin, the trends show similar declines. The average list price reached its highest point in April 2024 at $953,196. Today, it has decreased to $898,178, a drop of $55,018 or 5.8%. The median list price peaked in May 2022 at $658,589 but has since fallen to $582,500, a decline of $76,089 or 11.6%. The average sold price in the city peaked in May 2022 at $847,583. Currently, this value is $744,397, showing a drop of $103,186 or 12.2%. The median sold price, which peaked in May 2022 at $680,000, has decreased to $550,000, a significant drop of $130,000 or 19.1%. The price per square foot data for the City of Austin also reflects these downward trends. In May 2022, the average sold price per square foot peaked at $442. It has now decreased to $348, a reduction of $94 or 21.3%. The median sold price per square foot peaked in April 2022 at $393 but has since dropped to $232, a significant decrease of $92 or 23.4%. These figures indicate a general cooling of the real estate market in Austin, with notable declines from peak values. The changes in list prices, sold prices, and price per square foot highlight the shifts in market dynamics over the past few years. This detailed data is crucial for buyers, sellers, and real estate professionals as they navigate the current market conditions and make informed decisions. This information is from August 08, 2024 and is updated weekly. For the weekly update, access our <a href="https://teamprice.com/residential-price" class="on">Residential Price</a> resource.&nbsp;

August 08, 2024 : latest trends in Austin's real estate market with our comprehensive analysis. Learn about the changes in average and median list prices, sold prices, and price per square foot from their peak values to today. Stay informed and make better decisions in the Austin real estate market.

Understanding the Current Trends of Austin's Real Estate Market

Austin Area MLS Sees Record High in Active Lease Listings for July 2024 July 07, 2024 : The Austin Area MLS has experienced a remarkable surge in active lease listings, reaching a record high of 6,662 in July 2024. This unprecedented number highlights significant growth in the real estate market, reflecting broader trends observed over the past decade. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240707124809.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="austin area lease inventory.png" data-file-size="140662" data-origin="," style=""></figure></div> In January 2014, the Austin Area MLS recorded 1,892 active lease listings. Fast forward ten years, and this figure has soared to 5,049 by January 2024, marking an impressive 166.9% increase. February showed a similar trend, with listings rising from 1,776 in 2014 to 4,869 in 2024, a staggering 174.2% growth. March also saw a significant increase, with listings jumping from 1,868 in 2014 to 4,760 in 2024, reflecting a 154.8% rise. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240707124852.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="austin area lease inventory graph 1.png" data-file-size="66417" data-origin="," style=""></figure></div> The data for April through June further underscores this upward trajectory. In April 2014, there were 2,123 active lease listings, which grew to 5,106 by April 2024. May's listings increased from 2,412 in 2014 to 5,978 in 2024, and June saw a rise from 2,852 to 6,480 over the same period. Each month consistently shows substantial year-over-year growth, emphasizing the expanding rental market in Austin. July 2024's record high of 6,662 <a href="https://teamprice.com/lease-inventory">active lease listings</a> is a milestone for the Austin Area MLS. This figure represents a significant leap from the 2,862 listings recorded in July 2014. The month-over-month data reveals a steady climb, with listings rising from 2,935 in 2015 to 3,491 in 2016, and eventually reaching 5,525 in July 2023. The current year's record surpasses the previous high, showcasing a robust and dynamic market. The trends observed over the last decade illustrate consistent growth in active lease listings, with notable increases year-over-year. For instance, January 2023 saw an 81.7% increase compared to the previous year, while February 2023 experienced a 79.0% rise. March 2023 also demonstrated significant growth with a 77.2% increase from the prior year. The five-year and ten-year averages provide further insight into these trends. The average number of active lease listings for the five years leading up to 2024 is 5,558, while the ten-year average is 4,908. This comparison indicates a notable increase in recent years, suggesting a vibrant and expanding market. Analyzing percentage differences year-over-year highlights the fluctuations in the market. January's data, for example, shows a 31.8% increase in 2024 compared to the previous year. Similarly, February and March recorded 28.2% and 21.1% increases, respectively. These variations reflect the market's responsiveness to various external factors and the overall growth trajectory. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240707125304.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="austin area lease inventory graph 2.png" data-file-size="73062" data-origin="," style=""></figure></div> In conclusion, the Austin Area MLS has reached a historic milestone with 6,662 active lease listings in July 2024. This record-breaking number is part of a broader trend of significant growth observed over the past decade. The data highlights the dynamic nature of the Austin rental market and underscores the increasing demand for lease properties in the area. This article is based on data published on July 07, 2024. <a href="https://teamprice.com/insight-and-statistics">Austin Real estate statistics</a> are constantly evolving. For the most current data and analysis, please refer to the following resources, updated weekly: <a href="https://teamprice.com/lease-inventory">Austin-Area Lease Inventory</a>

July 07, 2024 : In July 2024, the Austin Area MLS reached a record high of 6,662 active lease listings, marking a significant milestone in the real estate market. This article explores the decade-long trends and the impressive growth in lease listings, providing detailed insights into the Austin rental market.

Austin Area MLS Hits Record High: 6,662 Active Lease Listings in July 2024

Austin Real Estate Sees Highest Inventory in More Than a Decade As of June 2024, the Austin real estate market has reached a significant milestone with the highest months of inventory seen in over 12 years. This marks a critical point of analysis for market participants, as it offers insight into the current balance of supply and demand in the housing 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/20240629125626.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="months of inventory.png" data-file-size="230931" data-origin="," style=""></figure></div> The Austin-Area MLS currently lists 15,740 active residential properties for sale. This is a substantial number that indicates a healthy supply of homes available to prospective buyers. The months of inventory, a key indicator of market health, now stands at 5.4 months. This places the market in a neutral category, suggesting a balanced scenario where neither buyers nor sellers have a distinct advantage. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240629125651.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="active listings austin mls.png" data-file-size="117142" data-origin="," style=""></figure></div> To put this into perspective, the last time the inventory levels were this high was in October 2011. This represents a span of over 12 years, or 152 months, highlighting the significant changes and fluctuations that have occurred in the Austin housing market over more than a decade. Examining the historical data, we see notable trends in the months of inventory. For instance, in January 2010, the months of inventory stood at 6.2, which was indicative of a buyer's market at the time. This trend continued to rise, peaking at 8.6 months in July 2010. The market then began to tighten, with inventory levels gradually decreasing over the years, reaching a low of 0.8 months in May 2020 during the height of the housing boom. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240629125725.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="moi graph.png" data-file-size="101000" data-origin="," style=""></figure></div> The current neutral market conditions reflect a return to a more balanced state after the extreme highs and lows experienced in the past decade. Among the top 30 cities in Central Texas, the months of inventory range from 2.42 to 11.00, showing a wide variation across different localities. This diversity underscores the importance of local market conditions and their impact on overall market dynamics. The current high inventory levels can be attributed to several factors, including increased new construction, changes in buyer demand, and broader economic conditions. For buyers, this means more options and potentially more negotiating power. For sellers, it underscores the need to price competitively and be responsive to market conditions. Overall, the current state of the Austin real estate market, with its highest inventory in over 12 years, provides a crucial context for understanding the supply and demand dynamics at play. By keeping a close eye on these metrics, market participants can make more informed decisions, whether buying or selling, and navigate the evolving landscape with greater confidence.​ This article is based on data published on June 29, 2024. <a href="https://teamprice.com/insight-and-statistics">Austin Real estate statistics</a> are constantly evolving. For the most current data and analysis, please refer to the following resources, updated weekly: <a href="https://teamprice.com/market-update">Austin-Area Market Update</a>

June 29, 2024 : Latest update on the Austin real estate market as of June 2024. Learn about the highest inventory levels in over 12 years, current prices, and market trends. Stay informed with key metrics and insights for the Austin housing market.

Austin Real Estate Market Update: Highest Inventory in Over 12 Years!

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

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

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

The <a href="https://teamprice.com">Austin real estate</a> market has experienced a significant transformation in the early months of 2024, marked by an increase in <a href="https://teamprice.com/active-residential-listings">active residential listings</a> and subtle yet consistent shifts in inventory levels. According to the latest report from the Austin Multiple Listing Service (MLS), as of April 26, 2024, there are 13,089 <a href="https://teamprice.com/active-residential-listings">active residential listings</a>, representing a 31.44% increase compared to the same day in the previous year. This influx of listings is a critical factor for market dynamics, influencing both buyer and seller behaviors. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240427121010.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="Active Residential Listings.png" data-file-size="89032" data-origin="," style=""></figure></div> Analyzing the months of inventory, a key indicator of market conditions, reveals a gradual increase from the start of the year, moving from a seller's market towards a more balanced market. On January 1, 2024, the months of inventory stood at 3.42, comfortably within the seller's market range (0 to 4.99 months), where demand outstrips supply, often leading to higher prices and quicker sales. However, by April 26, 2024, this figure had risen to 4.52, approaching the upper limit of a seller's market and edging closer to a neutral market (5 to 6.99 months). This trend suggests a cooling market, where the growing supply is beginning to meet the existing demand, potentially leading to more negotiable prices and a longer duration of listings on the market. Such conditions typically provide buyers with more options and less urgency to make quick decisions, while sellers may need to adjust their expectations and strategies. Throughout January, the months of inventory fluctuated slightly but stayed within the seller’s market range. The daily tracking of inventory levels shows minor variations that reflect normal market fluctuations; however, the overall trend indicates a steady climb. For instance, inventory levels saw a slight increase on specific days, such as reaching 3.51 on January 12 and 12.19, with small pullbacks to levels like 3.39 on January 31. By February, the pattern of slow growth continued, with inventory reaching 3.57 by the end of the month. March marked a more noticeable shift, with inventory levels climbing more substantially. By March 15, the months of inventory had risen to 3.83, and by the end of the month, it nearly touched 4, standing at 3.99 on March 29. The progression into April saw an even sharper rise, crossing into the 4+ territory, culminating in 4.52 by April 26, indicating a significant shift towards a balanced market. This nuanced view provided by the report offers a comprehensive snapshot of inventory levels, <a href="https://teamprice.com/active-residential-listings">active listings</a>, and pricing for the Austin-area market. For real estate professionals, investors, and potential homebuyers, these insights are invaluable for making informed decisions. The detailed day-to-day data points illustrate the dynamic nature of the real estate market, emphasizing the importance of understanding current trends for strategic planning. For a more in-depth analysis and detailed information, the full report is accessible at <a href="https://teamprice.com/active-residential-listings">Team Price’s active residential listings page</a>, serving as a crucial resource for anyone engaged with or interested in the Austin real estate market. This report not only helps in understanding the larger market dynamics but also aids in predicting future trends based on current data.

Over 13k Active Listings : Discover the latest trends in the Austin real estate market with our in-depth analysis of the 2024 surge in active residential listings. Explore comprehensive day-to-day data and insights into price adjustments and market dynamics. For detailed analytics and further information, visit our full report at Team Price’s active residential listings page.

Austin's MLS Surge: Over 13,000 Active Listings on April 26 2024

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