2024 Austin Area Real Estate Trends: Seller, Neutral, and Buyer Markets Explained September 16, 2024 : The Austin area real estate market has displayed significant variations across different cities in September 2024, reflecting diverse conditions for buyers and sellers. Analyzing these trends through the lens of months of inventory helps to identify whether a specific city is in a <a href="https://teamprice.com/type-of-market-city">seller's market</a>, <a href="https://teamprice.com/type-of-market-city">neutral market</a>, or <a href="https://teamprice.com/type-of-market-city">buyer's market</a>. The months of inventory metric, calculated by dividing the total number of active listings by the rate at which properties are being sold, is a key indicator of the supply and demand balance in the market. The current market conditions across the region offer essential insights into how these factors shape the buying and selling experience in Central Texas. In a seller’s market, inventory is typically below 4.9 months, meaning homes are selling more quickly due to higher demand compared to available supply. A total of 17 cities across the Austin area fall into this category. Austin itself, the region’s most prominent city, has 4,444 active listings with a median price of $624,950 and an average price of $1,001,119. The city’s inventory currently stands at 5.13 months, positioning it on the edge of a neutral market but still exhibiting seller-friendly conditions. Other cities within the seller's market include Buda, with an inventory of 2.77 months, and Cedar Park, which has a median price of $559,450 and an inventory of 3.32 months. Jarrell, with only 2.59 months of inventory and a median price of $299,550, is also a strong seller’s market, indicating that homes are selling quickly in these areas. A neutral market is defined by 5 to 6.9 months of inventory, indicating a balance between buyers and sellers. Eight cities across the Austin area are experiencing neutral market conditions, where homes tend to stay on the market for a moderate amount of time. Bastrop, for example, has a median price of $435,000 and an inventory of 6.08 months, reflecting a more balanced market. Burnet, with a median price of $669,000 and 6.29 months of inventory, shows similar characteristics. Dripping Springs, known for its higher-priced homes, with a median price of $789,000, has 4.99 months of inventory, placing it close to the seller’s market threshold but remaining in the neutral range. Georgetown, a growing city with a median price of $514,700, has an inventory of 4.41 months, signaling a market that could shift depending on future supply and demand. In a buyer’s market, where there is more than 7 months of inventory, the supply exceeds demand, giving buyers more negotiating power. Five cities fall into this category, reflecting longer times for homes to sell and greater opportunities for buyers. Cedar Creek, with 9.97 months of inventory and a median price of $530,000, exemplifies these conditions. Dale, with an inventory of 8.06 months and a median price of $439,000, also offers more favorable conditions for buyers. Lago Vista, with a median price of $513,050 and 8.83 months of inventory, further demonstrates the increased options for homebuyers. Marble Falls, with an 8.20-month inventory and a median price of $472,000, also shows strong buyer’s market characteristics. In these cities, buyers can take advantage of the surplus in available homes, leading to greater flexibility in negotiations. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240917011826.png" alt="" width="" height="" style=""></figure></div> The overall market in the Austin area presents a broad spectrum of conditions depending on the city. From fast-moving seller’s markets to more balanced neutral markets and buyer-friendly environments, each city offers different opportunities for prospective buyers and sellers. The months of inventory metric remains a crucial factor in determining the level of competition in each area. As market dynamics continue to evolve, staying informed on the latest inventory data is essential for making well-informed real estate decisions in the Austin area.

Austin real estate market, September 2024 real estate, Austin area housing trends, seller's market Austin, buyer's market Austin, neutral real estate market Austin, months of inventory Austin, Austin housing prices, real estate inventory Austin, city-by-city Austin real estate, Austin real estate analysis, housing market Austin, real estate market trends Austin, Central Texas real estate, Austin home prices 2024

Austin Real Estate Market Analysis: September 2024 City-by-City Breakdown

Real Estate Market Insights: What Days on the Market Tell Us About Property Demand Understanding the dynamics of the real estate market is crucial for both buyers and sellers. One of the most telling metrics in evaluating market conditions is the number of days a property remains on the market, known as "<a href="https://teamprice.com/real-estate-glossary/days-on-the-market">Days on the Market</a>" (DOM). This metric not only reflects the demand for properties in a given area but also provides insights into the health and trends of the market. In the latest data from the Multiple Listing Service (MLS), there are 15,065 active residential listings with a median DOM of 69 days. This means that, on average, properties are taking just over two months to sell. However, this figure alone doesn't tell the full story. When we break down the data further, we see that 37.9% of these listings have been on the market for 50 days or fewer. This indicates a segment of the market where properties are selling relatively quickly, reflecting a healthy demand. On the other hand, 27.6% of listings have a DOM between 50 and 100 days, and 34.4% of listings have been on the market for over 100 days. The higher percentage of properties lingering on the market for more than 100 days suggests that there may be some challenges in certain segments of the market, possibly due to pricing, location, or other factors. It's important to understand that DOM refers specifically to the "<a href="https://teamprice.com/real-estate-glossary/days-on-the-market">active days on the market</a>." This means that the clock stops when a property goes under contract. For example, if a property is listed and goes under contract after 10 days but the deal falls through after 30 days, when the property comes back on the market, the DOM will pick up at 11 days, not 41. This ensures that the DOM reflects only the time the property is actively available for purchase. Looking closer at individual cities within the MLS, we can observe interesting patterns. In Austin, for instance, there are 4,479 active listings with a median DOM of 69 days, mirroring the overall MLS median. In Austin, 36.9% of properties have been on the market for 50 days or fewer, while 30.1% are in the 50 to 100 days range, and 33.0% have been on the market for more than 100 days. This distribution suggests that while a significant portion of the market is moving briskly, there is also a considerable number of properties that may require price adjustments or additional marketing efforts to attract buyers. Comparing Austin with neighboring cities reveals some notable contrasts. For example, Cedar Park, a city with 243 active listings, has a lower median DOM of 57 days. Here, nearly 45% of the listings have a DOM of 50 days or fewer, indicating a more robust market compared to Austin. Conversely, in Burnet, with only 110 active listings, the median DOM is much higher at 113 days, and a staggering 57.3% of listings have been on the market for over 100 days. This data highlights the variability in market conditions even within the same region, underscoring the importance of local market knowledge for both buyers and sellers. In cities like Hutto and Pflugerville, the market is particularly active, with over 50% of listings having a DOM of 50 days or fewer. Hutto, with 226 active listings, has a median DOM of just 49 days, one of the lowest in the region. Pflugerville, with 399 listings, also sees a rapid turnover, with a median DOM of 49 days. These areas may be experiencing higher demand, possibly due to their proximity to major employment centers and their relatively affordable housing options. On the other end of the spectrum, cities like Spicewood and Wimberley have higher median DOMs of 108 and 95 days, respectively. In Spicewood, 53.4% of listings have been on the market for over 100 days, while in Wimberley, this figure is 49.1%. These statistics suggest that in certain areas, properties are taking longer to sell, which could be due to factors such as pricing, property type, or the overall appeal of the location. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240820125010.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="active days on the market.png" data-file-size="211280" data-origin="," style=""></figure></div> In summary, the DOM data provides valuable insights into the real estate market across the MLS area. It highlights areas with high demand and quick turnover, as well as regions where properties are slower to sell. For real estate professionals, understanding these trends is essential for advising clients on pricing strategies and marketing efforts. For buyers, this data can help identify markets where they might have more negotiating power, or where they need to act quickly to secure a property.​

Explore the latest real estate market trends with a detailed analysis of Days on the Market data from Central Texas. Learn how this key metric reveals property demand, market health, and insights into pricing strategies across different cities

Understanding Days on the Market: A Detailed Look at Current Real Estate Trends

Central Texas Real Estate Market Analysis: Top 30 Cities Breakdown July 09, 2024 : The real estate market in Central Texas presents a diverse landscape, with varying conditions across its top 30 cities. According to recent data, 17 of these cities are identified as sellers' markets, characterized by less than 4.9 months of inventory. This means that homes in these areas are selling quickly, indicating high demand. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240709093825.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="type of market.png" data-file-size="32405" data-origin="," style=""></figure></div> Examples of cities in a sellers' market include Austin, Cedar Park, and Buda. Austin, for instance, has an average home price of $1,036,767 and a median price of $649,999. With a median of 58 days on the market and 5.13 months of inventory, Austin is on the cusp of a neutral market but still leans towards a sellers' market due to its high demand and competitive pricing. <a href="https://teamprice.com/type-of-market-city">Detailed Analysis : Type of Market Cities</a>&nbsp; Bastrop, another city in a sellers' market, has 298 active listings with an average price of $508,110 and a median price of $439,902. Homes in Bastrop typically stay on the market for about 61 days, with 4.58 months of inventory available. Similarly, Cedar Park's real estate market is robust, with 242 active listings, an average price of $645,379, and a median price of $575,000. Homes in Cedar Park sell quickly, often within 39 days, reflecting its strong sellers' market status. Seven cities in Central Texas are classified as neutral markets, where the months of inventory range between 5 and 6.9 months. This balance indicates a stable market where the supply of homes meets buyer demand. San Marcos, for example, has 429 active listings, an average price of $531,984, and a median price of $399,990. Homes in San Marcos typically stay on the market for 58 days, with 5.08 months of inventory, placing it firmly in the neutral category. Driftwood also falls into the neutral market category, with 47 active listings, an average price of $1,570,336, and a median price of $1,235,000. Driftwood homes stay on the market for about 53 days, reflecting a balanced demand and supply situation. Six cities in Central Texas are experiencing a buyers' market, where the months of inventory exceed 7 months. This surplus of available homes often leads to more competitive pricing and longer time on the market. Burnet is a notable example of a buyers' market, with 122 active listings, an average home price of $869,755, and a median price of $697,000. Homes in Burnet typically stay on the market for 80 days, with an inventory lasting 8.13 months. Similarly, Wimberley has 188 active listings, an average price of $1,040,393, and a median price of $650,000. In Wimberley, homes remain on the market for 85 days, with an inventory of 9.64 months, highlighting its status as a buyers' market. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240709093938.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="109534" data-origin="," style=""></figure></div> Understanding the real estate market conditions across these Central Texas cities is crucial for both buyers and sellers. Sellers can capitalize on the high demand in sellers' markets, while buyers can take advantage of more favorable conditions in buyers' markets. Meanwhile, those looking at neutral markets will find a balanced environment where neither buyers nor sellers have a distinct advantage.​

July 09, 2024 : current real estate market conditions across the top 30 cities in Central Texas. Learn which cities are sellers, neutral, and buyers markets, with detailed data on inventory, prices, and market trends. Stay informed and make better decisions whether you're buying or selling a home in Central Texas.

Central Texas Housing Market Trends: Sellers, Buyers, and Neutral Markets

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!

In a comprehensive analysis of real estate price dynamics across 30 cities in Central Texas from 2023 to 2024, the data reveals a nuanced landscape of market adjustments. The period under review saw an equal distribution of cities experiencing growth in property values and those witnessing declines, underscoring the diverse economic factors at play within the region. The year-over-year (YoY) price changes highlight a blend of upward and downward trends, with an average price difference of 2.2% and a median difference of -0.8%. Cities like Dale, Smithville, and Spicewood emerged as the top performers in terms of percentage growth. Dale astonishingly surged by 29.9%, Smithville by 36.6%, and Spicewood by 15.9%, showcasing significant investor confidence and possibly demographic shifts or infrastructural developments fueling these increases. On the contrary, Driftwood, Lago Vista, and Liberty Hill experienced the most substantial declines, with Driftwood's prices falling by 16.3%, Lago Vista by 13.1%, and Liberty Hill by 9.7%, reflecting adjustments possibly due to market corrections or changes in local demand dynamics. The city of Austin, often considered a bellwether for the Central Texas real estate market, saw a decrease of 4.2% in housing prices, aligning with a broader trend of cooling in some of the more historically overheated markets. Conversely, cities like Burnet and Lockhart, with price jumps of 11.3% and 13.2% respectively, indicate areas of burgeoning growth, potentially driven by emerging economic opportunities or an influx of residents seeking alternatives to more expensive urban centers. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240402082405.png" alt="" data-rotate="" data-proportion="true" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="image.png" data-file-size="155126" data-origin="," style=""></figure></div> The balance between cities with increasing and decreasing property values points to a complex interplay of regional economic health, housing supply constraints, and shifting consumer preferences. Cities such as Bastrop, Buda, and Cedar Park, with variances in their price trajectories, further exemplify the localized nature of real estate markets, where factors such as school district quality, proximity to major employment hubs, and local amenities can significantly influence property valuations. This detailed exploration into the real estate market dynamics of Central Texas from 2023 to 2024 provides a granular view of how individual cities within the region are navigating broader economic currents. The data underscores the importance of localized market analysis in understanding the diverse factors contributing to property value trends, offering valuable insights for investors, homeowners, and policymakers alike. This information was compiled on Tuesday, April 02, 2024. For up to date access to the latest appreciation analysis, access the information below.&nbsp; Up to Date Resources (updated weekly) :&nbsp;<a href="https://teamprice.com/appreciation-year-over-year-city">Appreciation Year over Year City</a> ​

Explore an in-depth analysis of housing price changes across 30 cities in Central Texas between 2023 and 2024. Discover which cities have seen significant growth, which have declined, and the factors influencing these trends. This article provides essential insights for investors, homebuyers, and industry analysts seeking to understand the evolving real estate landscape

Central Texas Real Estate Trends 2023-2024: A Detailed Analysis of Housing Price Changes

Housing Cost Analysis: Navigating Price Changes in Central Texas from 2023 to 2024

As Austin continues to thrive as a vibrant and bustling city, the question of affordability increasingly takes center stage in discussions about its future. A detailed examination of real estate data, including "Median Gross Household Income," "Median Active List Price," "Average Tax Rate," "Mortgage Payment (PITI with 20% Down)," and the "% of Median Income to PITI," sheds light on the evolving affordability landscape of Austin and its surrounding areas. This analysis spans 75 zip codes within Austin and extends to the top 30 cities in the Central Texas Area, revealing a nuanced picture of affordability across one of Texas's most iconic regions. ​<a href="https://teamprice.com/affordability">Understanding Housing Affordability Metrics</a> : The concept of housing affordability is often quantified by comparing household incomes to housing expenses. A common benchmark is the percentage of median gross household income required to cover the mortgage payment (Principal, Interest, Taxes, and Insurance - PITI) with a conventional 20% down payment. This metric provides a tangible way to assess whether housing is considered affordable, moderately affordable, or unaffordable. ​<a href="https://teamprice.com/affordability">Austin's Affordability</a> Landscape : The analysis unveils a concerning trend: out of 75 analyzed zip codes, an overwhelming majority fall into the "Unaffordable" category, with 51 zip codes requiring over 50% of the median household income to cover the mortgage payment. This leaves 24 zip codes in the "Moderately Affordable" range (35-50% of income), and notably, none are classified as "Affordable" (0-35%). Expanding the scope to the Greater Austin Area, encompassing the top 30 cities in Central Texas, the picture remains grim. Only one city, Jarrell, with a required 33.5% of median income to PITI, qualifies as affordable. Meanwhile, 11 cities are deemed moderately affordable, and 18 cities are categorized as unaffordable. A Closer Look at City-Specific Data : Jarrell stands out as a beacon of affordability, demanding only 33.5% of median income to cover mortgage payments, marking it as the sole city classified under the "Affordable" category. This distinction makes Jarrell a unique case amidst a broader trend toward unaffordability, offering a glimmer of hope for prospective homeowners seeking a foothold in the Greater Austin Area. The tier of "Moderately Affordable" cities, though broader, still reflects a challenging environment for homebuyers. Cities like Buda, with a 43.6% income-to-PITI ratio, Cedar Park at 44%, and Kyle at 48.3%, hover closer to the threshold of affordability, suggesting that with careful financial planning, homeownership remains within reach for median income earners in these locales. Similarly, Manor and Pflugerville present themselves as viable options for many, with required income-to-PITI ratios of 42.1% and 42.9%, respectively, signaling a moderate strain on household incomes. Elgin's positioning at 39.6% showcases another relatively more accessible market, offering a semblance of relief against the backdrop of rising housing costs. Furthermore, Manchaca and Round Rock emerge as noteworthy mentions, with their ratios standing at 37.4% and 47.4%, respectively, aligning them with the moderately affordable bracket. Beyond the Numbers :&nbsp;While the analysis provides a comprehensive overview, it's crucial to acknowledge the diversity of individual circumstances. Median household income and property considerations vary widely, impacting the <a href="https://teamprice.com/affordability">affordability assessment</a> on a case-by-case basis. For those seeking a deeper understanding or personalized analysis, additional resources and expert consultations are available to navigate the complexities of the real estate market. This data points to a challenging affordability landscape in Austin and its surrounding areas, with most locales falling into the moderate to severe unaffordability spectrum. This analysis underscores the importance of strategic planning and policy intervention to address housing affordability, ensuring that Austin remains accessible to a broad spectrum of residents in the years to come. For a complete <a href="https://teamprice.com/affordability">Austin-Area Affordability Analysis</a> and personalized consultation opportunities, visit Team Price Real Estate. This resource offers over 30 pages of comprehensive insights into all aspects of affordability, tailored to meet individual needs and circumstances in the dynamic Austin real estate market. This data represents a snapshot of the current housing affordability landscape as of March 16, 2024. The dynamic nature of the real estate market means that factors such as interest rate fluctuations, changes in pricing dynamics, and shifts in salary and income levels can significantly alter the affordability metrics over time. Cities previously deemed unaffordable may transition into the affordable category as these variables evolve, reflecting the ever-changing nature of the real estate environment. We encourage those interested in the Austin real estate market to stay informed by consistently consulting updated resources and reaching out for personalized advice. Our team remains committed to providing the most current and comprehensive analysis to assist in navigating the complexities of buying a home in Central Texas. For updated information and a deeper dive into the nuances of affordability in our region, we invite you to visit Team Price Real Estate regularly. Our experts are here to help you assess your individual needs and circumstances, ensuring you make informed decisions in your real estate journey.​ <div class="se-component se-image-container __se__float-center"><figure><figure> </figure></figure><figure><figure> </figure></figure><figure><figure> </figure></figure><figure><figure> </figure></figure><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240316015247.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="aff1.png" data-file-size="203912" data-origin="," origin-size="1741,1320" style=""></figure><figure><figure> </figure></figure></div>

Explore an in-depth analysis of Austin's housing affordability in 2024, featuring comprehensive data on median household incomes, list prices, and the stark reality facing potential homeowners. Discover which areas remain within reach and the evolving landscape of real estate in Central Texas.

Is Austin Unaffordable? Austin's Affordability Explained : Navigating Housing Costs in 2024

Is Austin Becoming Unaffordable?

ArticleDirectorySimple

<h2>Central Texas real estate</h2>Find articles about Real Estate relating to this article tag.

Central Texas real estate

Austin Real Estate Market Analysis: September 2024 City-by-City Breakdown

Understanding Days on the Market: A Detailed Look at Current Real Estate Trends

Central Texas Housing Market Trends: Sellers, Buyers, and Neutral Markets

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

Housing Cost Analysis: Navigating Price Changes in Central Texas from 2023 to 2024

Is Austin Becoming Unaffordable?

Search

About

Company

Explore

Resources

Account