Analyzing the Austin Area Real Estate Market: Inventory Trends and Market Conditions Across 30 Cities The Austin area real estate market offers a wide range of opportunities for buyers, sellers, and investors. Looking at the current data <a href="https://teamprice.com/type-of-market-city">Austin Area Type of Market</a> for 30 cities reveals a clear picture of market conditions, broken down by months of inventory, median home prices, and active listings. Understanding these details is key to making smart decisions in a market that’s always changing. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220115520.png" alt="" width="" height="" style=""></figure></div> A city’s inventory level is a reliable indicator of market conditions. Less than 4.9 months of inventory means a seller's market. Between 5 and 6.9 months is a neutral market, where supply and demand are balanced. Anything over 7 months signals a buyer’s market. According to the latest data, 16 of the 30 cities in the Austin area are in a seller’s market, making up 53% of the total. Seven cities fall into the neutral market category, representing 23%, and another seven cities are buyer’s markets, also at 23%. Austin, the largest city in the region, currently has 3,188 active listings. The average home price is $984,208, with a median price of $599,000. With 4.24 months of inventory, Austin is in a seller’s market. Homes here typically stay on the market for a median of 84 days. Nearby Georgetown shows a similar trend. It has 860 active listings, an average price of $571,176, and a median price of $510,000. Georgetown’s inventory level is 3.24 months, which also puts it in the seller’s market category. Homes in Georgetown spend a median of 80 days on the market. Other cities like Buda and Hutto also reflect strong seller’s market conditions. Buda has 243 active listings, a median home price of $384,000, and 3.52 months of inventory. Hutto has 205 active listings, a median price of $398,941, and just 3.2 months of inventory. These numbers show healthy demand and limited supply, making it a competitive market for buyers. On the flip side, some cities favor buyers because of higher inventory levels. Burnet, for example, has 115 active listings and 10.45 months of inventory. The average home price in Burnet is $772,121, with a median of $529,500. Dale is another buyer’s market with 11 months of inventory, 45 active listings, and a median price of $385,000. In these cities, buyers have more choices and better leverage when negotiating. Neutral markets offer a balance between buyers and sellers. Lakeway, for instance, has 101 active listings, a median price of $799,972, and 5.41 months of inventory. San Marcos shows similar conditions with 372 active listings, a median price of $399,018, and 5 months of inventory. These cities provide opportunities for both buyers and sellers to strike fair deals. Cities like Cedar Park and Pflugerville highlight interesting price trends. Cedar Park has 129 active listings, an average price of $600,356, and a median price of $509,900. With just 2.14 months of inventory, Cedar Park is a strong seller’s market. Pflugerville’s market is also competitive, with 305 active listings, a median price of $431,019, and 2.91 months of inventory. The days on market data gives even more insight. In Jarrell, homes typically stay on the market for 58 days, with inventory at 3.17 months. In Kyle, homes stay on the market for 79 days, with 3.29 months of inventory. In contrast, homes in Driftwood stay on the market longer, with a median of 106 days and 6 months of inventory. Spicewood also sees longer wait times, with homes staying on the market for 121 days and inventory levels at 10.27 months. Price adjustments are happening in several cities. Marble Falls, for example, has seen average prices drop by 11.2%. Manchaca’s prices fell by 6.3%. On the other hand, Spicewood saw price increases of up to 15.7%. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220115541.png" alt="" width="" height="" style=""></figure></div> The Austin area real estate market is diverse, with different conditions offering opportunities for various types of buyers and sellers. Knowing the inventory levels, median prices, and market conditions can help you navigate this dynamic landscape. Staying informed about these trends is essential for making smart real estate decisions in the Austin area.&nbsp; <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220115601.png" alt="" width="" height="" style=""></figure></div>

Austin area real estate trends with detailed insights into inventory levels, median prices, and market conditions across 30 cities. Discover where buyers and sellers have the advantage in this comprehensive market analysis

Austin Area Real Estate Market Analysis: Top 30 Cities by Inventory and Prices

Austin Housing Market Update: November 2024 Sees Decline in Inventory Levels The Austin housing market has experienced notable fluctuations in inventory levels over the past two decades, with recent data indicating a significant decrease as of November 2024. <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory (MOI)</a> is a key metric used to assess the balance between housing supply and demand. It represents the number of months it would take to sell all current listings at the prevailing sales pace, assuming no new properties enter the market. This measure helps categorize the market into seller's, neutral, or buyer's markets. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241127012813.png" alt="" width="" height="" style=""></figure></div> Historically, Austin's MOI has varied in response to economic conditions and market dynamics. Between 2005 and 2007, the MOI averaged around 4 to 5 months, indicating a balanced to seller's market. For instance, in January 2005, the MOI was 4.3 months, suggesting a seller's market. This trend continued through 2007, with January recording 3.7 months of inventory. The global financial crisis of 2008 led to a sharp increase in MOI, reflecting a shift toward a buyer's market. By May 2009, the MOI peaked at 7 months, highlighting an oversupply relative to demand. This period was characterized by economic uncertainty and reduced buyer activity. Recovery began in the early 2010s, with MOI gradually declining. By 2012, the MOI consistently fell below 5 months, returning the market to seller-favorable conditions. In January 2013, the MOI was at 2.6 months, indicating high demand and limited supply. This trend persisted through 2014 and 2015, with June 2015 recording an MOI of 4.3 months, maintaining a stable seller's market. The period from 2020 to 2022 marked historic lows in MOI, driven by unprecedented demand, low interest rates, and constrained supply. In January 2021, the MOI dropped to an extraordinary 0.8 months, signaling one of the most competitive seller's markets in recent history. This trend continued throughout 2021, with MOI remaining below 2 months for most of the year. In 2023, the market began to shift, with MOI increasing. By March 2023, the MOI rose to 3.7 months, indicating a transition toward more balanced conditions. As of November 2024, the market has experienced a notable decrease in inventory levels. The MOI has fallen to 4.7 months, down from 5.1 months in October 2024. This decline suggests a tightening market, with reduced supply relative to demand. Seasonal trends also influence MOI fluctuations. Typically, MOI rises during the summer months, peaking in May or June, and declines in the winter. For example, in December 2015, the MOI was at 3.3 months, while by June 2016, it had increased to 4.6 months. These patterns are consistent throughout the data set, reflecting the cyclical nature of real estate activity. Understanding MOI trends is essential for buyers, sellers, and industry professionals. This metric provides valuable insights into market competitiveness and aids in strategic decision-making. Whether navigating a low-inventory seller's market or preparing for a buyer's market with abundant supply, MOI remains a cornerstone for assessing market conditions.&nbsp;

Latest developments in the Austin housing market as of November 2024, highlighting a significant decrease in inventory levels. Understand how Months of Inventory (MOI) reflects current market conditions and what this means for buyers and sellers

Austin Housing Market Update: November 2024 Inventory Levels Decline

Austin Real Estate Market Update: Shifting Back to a Seller's Market November 09, 2024 : The Austin real estate market is showing significant signs of change as the latest data reveals a dip in the <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory (MOI)</a> to 4.96. This shift marks a return to a seller's market, highlighting a balance tipped in favor of sellers after a period of higher inventory levels throughout much of 2023 and early 2024. The Months of Inventory is a crucial metric in real estate that measures how long it would take to sell all active listings at the current sales pace, and a figure below 5 months typically indicates strong demand, favoring sellers. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241109015305.png" alt="" width="" height="" style=""></figure></div> Over the past two decades, Austin's real estate market has experienced various cycles, from the stability of the mid-2000s to the turbulence of the financial crisis, and the booming seller's market during the pandemic years. Historically, the Austin area has seen MOI fluctuate based on broader economic trends, local housing demand, and changing interest rates. For context, during the financial crisis in 2009-2011, the MOI surged to levels as high as 8.6 months, reflecting a sharp drop in buyer demand and a significant increase in available listings. In stark contrast, the pandemic-driven market of 2020-2021 recorded some of the lowest inventory levels in history, with MOI dropping to as low as 0.7 months, driven by a surge in buyer demand and limited new listings.​The current MOI of 4.96 suggests a market dynamic where demand is rising again, possibly due to more stable interest rates and a rebound in buyer confidence. This figure signals a shift back from the neutral and buyer-leaning market conditions observed earlier this year, where MOI was often above 5 months. The recent decline below the 5-month threshold suggests a tightening market where sellers have more leverage, and properties are moving at a quicker pace.​In November 2024, the Austin area has 14,136 active residential listings, indicating a robust level of inventory compared to the peak crisis levels of 2010 but still below the highs of the past year. Despite the elevated inventory, the declining MOI points to increased absorption rates, which means that more buyers are entering the market, and properties are being sold at a faster rate. This change is significant because a higher absorption rate usually correlates with a decrease in the number of days properties spend on the market, often resulting in upward pressure on prices. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241109015449.png" alt="" width="" height="" style=""></figure></div>​The analysis of the market data from 2005 to 2024 reveals several key trends. From 2005 to 2008, the market was relatively stable, with MOI hovering around 4-5 months, which is consistent with a balanced market where supply and demand are nearly equal. However, the economic downturn in 2008 led to a sharp increase in inventory levels, peaking in mid-2010 at 8.6 months. This represented a strong buyer’s market, where the number of available homes far exceeded the demand, giving buyers considerable negotiating power.​Following the recovery period from 2012 onwards, the Austin market experienced a gradual tightening. From 2012 to 2019, the MOI consistently stayed below 5 months, marking a prolonged seller’s market as the local economy strengthened and demand outpaced supply. This trend was further exacerbated during the COVID-19 pandemic, when record-low interest rates and heightened demand led to an unprecedented reduction in inventory, with MOI figures consistently below 2 months.​In 2023 and early 2024, there was a noticeable shift, with inventory levels rising and the market moving toward a neutral stance. However, as of November 2024, the MOI’s drop to 4.96 indicates a resurgence of buyer activity. This suggests that buyers are adjusting to the current mortgage rates, and many are capitalizing on the relative affordability improvements compared to the price peaks seen during the height of the pandemic boom.​The market's current conditions align with trends seen in 2013-2014, where MOI hovered around 4-5 months, indicating a slightly seller-favored environment. Unlike that period, however, the macroeconomic landscape today includes higher interest rates, which have been a major factor affecting affordability and buyer sentiment. Despite these challenges, the sustained demand and strong absorption rates reflect a resilient housing market supported by ongoing in-migration, strong employment figures, and a robust local economy in Austin. Looking ahead, the months of November and December often see seasonal slowdowns, but if the current trend of declining MOI persists, it may point to stronger underlying demand heading into early 2025. The ongoing absorption of inventory, coupled with stable demand, could result in increased competition among buyers, especially if the Federal Reserve signals any potential adjustments to interest rates. The upcoming months will be critical to observe as these factors play out, shaping the market dynamics for the new year. Overall, the latest data shows that the Austin real estate market is making a notable shift back towards a seller’s market. The MOI at 4.96 indicates strong buyer activity and a tightening of supply, which could lead to stabilizing or even rising home prices in the near future. This change, while subtle, may signal the beginning of a new phase in the Austin housing market cycle.&nbsp;

The latest Austin real estate market update reveals a shift back to a seller’s market, with Months of Inventory (MOI) dropping to 4.96 in November 2024. Active residential listings remain steady at 14,136, while increased absorption rates highlight rising buyer demand. Discover how these trends may impact home prices and the Austin housing market moving into 2025.

Austin Real Estate Market Update: Seller’s Market Returns as Inventory Falls in November 2024

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 Real Estate Market Update: Understanding Current Trends August 10, 2024 : The Austin real estate market has experienced notable fluctuations over the years, with the most recent data offering valuable insights into its current state. One of the most critical metrics used to evaluate market conditions is the <a href="https://teamprice.com/market-update">Months of Inventory (MOI)</a>, a measure that indicates how long it would take to sell all the homes currently on the market if no new listings were added. The MOI is calculated by taking the average number of units sold monthly over the past year and dividing the current number of active listings by that figure. This calculation provides a snapshot of the market's current supply and demand balance. According to the latest data, the <a href="https://teamprice.com/market-update">Austin-area MOI</a> as of August 2024 stands at 5.3 months. This figure places the market squarely in the "neutral" category, which is defined by an inventory level between 5 and 6.9 months. A neutral market suggests that there is a relatively balanced number of buyers and sellers, with neither group holding a distinct advantage. Historically, the <a href="https://teamprice.com/market-update" class="on">Austin MOI</a> has seen significant variations. For example, in July 2010, the MOI peaked at 8.6 months, indicating a strong buyer's market at the time. In contrast, more recent years have witnessed much lower MOI levels, reflecting tighter 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/20240810011723.png" alt="austin-months-of-inventory-2024-update" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-align="center" width="" height="" data-size="," data-percentage="auto,auto" data-index="0" data-file-name="austin-months-of-inventory-2024-update.png" data-file-size="218707" data-origin="," style=""></figure></div> It's important to note that the MOI is considered a lagging indicator, as it reflects the inventory based on the historical absorption of properties. This means it provides insight into past market conditions rather than predicting future trends. To get a fuller picture of the market, it is also essential to consider leading indicators like the "<a href="https://teamprice.com/new-listing-to-pending-ratio">New Listing to Pending Ratio</a>" and the <a href="https://teamprice.com/activity-index-city">Activity Index for cities</a> and the <a href="https://teamprice.com/activity-index-zip-code">Activity Index for zip codes</a>.&nbsp;<a href="https://teamprice.com/new-listing-to-pending-ratio">New Listing to Pending Ratio</a> is (AUC + PB) / (New + BOM). AUC stands for "Active Under Contract," PB stands for "Pending, Taking Backups," New stands for "New Listings," and BOM stands for "Back On Market." A ratio less than one indicates an increase in inventory and a ratio of more than one will indicate a decrease in inventory.&nbsp;​The chart below will show you both the activity index and months of inventory for all 75 zip codes in the Austin-Area. We update this chart daily and you can access an updated version by going to our <a href="https://teamprice.com/active-residential-listings" style="font-size: 18px;">Austin-Area Active Residential Listings</a> resource. The Activity Index is calculated by dividing the number of pending properties by the total number of active and pending properties (Pending / Active + Pending). This ratio shows the current level of market absorption and, when analyzed alongside the MOI, provides a powerful way to understand both leading and lagging market indicators. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240810012018.png" alt="austin-zip-code-activity-index-months-of-inventory-2024" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-align="center" width="" height="" data-size="," data-percentage="auto,auto" data-index="2" data-file-name="austin-zip-code-activity-index-months-of-inventory-2024.png" data-file-size="168979" data-origin="," style=""></figure></div> This neutral stance in the market is further supported by the <a href="https://teamprice.com/active-residential-listings">number of active residential listings</a>. As of the latest update in August 2024, there are 15,690 active residential listings in the Austin area. This inventory provides a comprehensive view of the available housing supply, a critical factor influencing both pricing and market dynamics. A higher number of listings typically gives buyers more options and can lead to longer times on the market for sellers, which is consistent with the current neutral MOI. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240810011828.png" alt="active-listings-austin-august-2024" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-align="center" width="" height="" data-size="," data-percentage="auto,auto" data-index="1" data-file-name="active-listings-austin-august-2024.png" data-file-size="269108" data-origin="," style=""></figure></div> To understand the implications of these figures, it is essential to look at the historical trends. The <a href="https://teamprice.com/insight-and-statistics">Austin real estate market</a> has transitioned through various phases over the past two decades. In the years following the 2008 financial crisis, the MOI reached its highest levels, signifying a period when buyers had a strong upper hand due to the abundance of available properties. As the market recovered, the MOI gradually declined, moving through a seller's market phase, where homes were in high demand and inventory was scarce. The current neutral market indicates a period of stability, where supply and demand are more evenly matched. The data-driven insights provided by the MOI and active listings offer a detailed snapshot of the current Austin real estate market. Understanding these metrics, along with leading indicators like the <a href="https://teamprice.com/new-listing-to-pending-ratio">New Listing to Pending Ratio</a> and the Activity Index, is crucial for both buyers and sellers as they navigate the complexities of real estate transactions. For sellers, knowing that the market is neutral might influence their pricing strategies and expectations regarding how long their home will stay on the market. For buyers, the current MOI suggests that while there are options available, they should be prepared for a market that does not overwhelmingly favor them. As the <a href="https://teamprice.com/insight-and-statistics">Austin real estate market</a> continues to evolve, keeping a close eye on these indicators will be essential for making informed decisions. Whether you are buying or selling, understanding the dynamics of the market can help you navigate the process more effectively and with greater confidence.

August 10, 2024 : Explore the latest trends in the Austin real estate market with our August 2024 update. Learn about current inventory levels, Months of Inventory (MOI), and how leading indicators like the Activity Index and New Listing to Pending Ratio provide a comprehensive market analysis. Stay informed with our detailed market insights.

Austin Real Estate Market Trends: August 2024 Inventory Update and Analysis

Austin Real Estate Market Sees Record Highs in Active Listings and Inventory June 21, 2024 : The Austin real estate market has experienced significant changes, reaching record highs in active residential listings and months of inventory. As of June 21, 2024, active residential listings have reached an unprecedented 15,137, representing a 5.96% increase month-over-month and a substantial 28.7% rise year-over-year. This is the highest number of active listings ever recorded, surpassing the previous high of 15,035 on June 14, 2024, by 102 listings. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240622022318.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="active.png" data-file-size="88830" data-origin="," style=""></figure></div> A detailed comparison of the current year to the previous year reveals notable differences in the market dynamics. In 2023, the number of active listings was 11,760, which means the 2024 figure shows a remarkable increase of 28.7%. On the other hand, pending listings have seen a decline. In 2023, there were 5,245 pending listings, whereas in 2024, the number has decreased to 4,883, a drop of 6.9%. This shift indicates a cooling in the market’s absorption rate. The activity index, which measures the percentage of properties under contract out of the total available, provides further insight into market trends. The activity index has fallen from 31.6% in 2023 to 24.4% in 2024, showing a significant decrease of 22.7%. This metric is a leading indicator of market absorption, highlighting the percentage of properties going under contract out of the total available. A lower activity index suggests a slower pace of property sales relative to the number of active listings. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240622022357.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="activity.png" data-file-size="112031" data-origin="," style=""></figure></div> Another critical metric, months of inventory, has also reached a new high. In 2024, the months of inventory stand at 5.31, compared to 4.04 in 2023, marking a 31.6% increase. This indicates a slower turnover of homes, suggesting that properties are remaining on the market for longer periods before being sold. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240622022441.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="moi.png" data-file-size="69518" data-origin="," style=""></figure></div> The current market conditions also reveal significant price adjustments and occupancy trends. Out of all active listings, 52.1% have experienced price drops, and 44.2% of pending listings have had price reductions before going under contract. Additionally, 57.2% of all active listings are currently vacant, reflecting changes in property occupancy dynamics. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240622022530.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="price drop.png" data-file-size="194835" data-origin="," style=""></figure></div> When breaking down the types of listings, resale homes constitute the majority with 9,714 properties, accounting for 64.2% of the total active listings. New construction follows with 2,359 homes, making up 15.6% of the market. Other categories include updated or remodeled homes, which represent 5.9% of the market, and properties under construction, which account for 10.7%. Geographical distribution shows variations in market activity across different cities within the Austin area. For instance, Austin itself has 4,796 active listings, with 54.6% experiencing price drops. In contrast, Lakeway has 164 active listings, with a notable 68.9% having undergone price reductions. Other areas like Leander and Georgetown also show significant levels of price adjustments, with 58.6% and 56.1% of listings experiencing price drops, respectively. The overall increase in active listings and months of inventory, coupled with the decrease in pending listings and activity index, suggests a shifting market landscape. These changes highlight the importance of monitoring market trends and adapting strategies to navigate the evolving real estate environment in Austin.​ This article is based on data published on June 21, 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/active-residential-listings">Latest Active Residential Listings in the Austin-Area</a>

June 21, 2024 : Latest trends in the Austin real estate market as active residential listings and months of inventory reach record highs in 2024. Explore detailed market data, including price adjustments, occupancy rates, and geographical distribution, providing a comprehensive analysis of the current housing market dynamics.

Austin Real Estate Market Trends: Active Listings and Inventory Surge

Austin Real Estate Market Update: Highest Inventory Levels Since 2011 June 15, 2024 : The Austin real estate market is currently experiencing a significant shift, with inventory levels reaching their highest since October 2011. This change in the market dynamics is evident from the data on active listings and sold properties from 2005 to 2024. By analyzing this data, we can gain a comprehensive understanding of the current trends and their implications for buyers and sellers in the Austin area. In June 2024, the number of active residential listings soared to 15,437. This is a substantial increase from the previous years, reflecting a dramatic rise in inventory. To put this into perspective, the active listings in June 2021 were only 4,913, demonstrating a significant increase in just three years. The last time we saw such high numbers was in June 2010, when active listings reached 14,197. This surge in listings indicates that more properties are entering the market, which could signal a shift towards a buyer’s 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/20240615024324.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="active listings.png" data-file-size="117235" data-origin="," style=""></figure></div> The trend in active listings shows fluctuations over the years, with notable peaks during mid-year months. For instance, June 2008 had 13,364 active listings, and June 2024 surpassed this with the highest count of 15,437. This increase can be attributed to various factors, including new housing developments and changes in economic conditions that may have prompted more homeowners to sell their properties. On the other hand, the sold data reveals that the number of properties sold has also seen changes, although not as dramatic as the increase in active listings. In June 2024, 3,300 properties were sold, compared to 4,660 in June 2021. This decline in sales figures, despite the high inventory, suggests a potential cooling in buyer activity. It is essential to consider how this trend affects the overall market, particularly in balancing supply and demand.&nbsp;Analyzing the data from previous years, we see that the number of properties sold tends to peak in mid-year months. For example, in June 2021, 4,660 properties were sold, which was the highest for that year. Similar peaks are observed in other years, such as June 2020 with 4,323 sales and June 2019 with 3,928 sales. This seasonal pattern indicates a consistent trend where more transactions occur during the summer months. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240615024443.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="sold.png" data-file-size="54794" data-origin="," style=""></figure></div> Another crucial metric to consider is the Months of Inventory (MOI), which represents the number of months it would take to sell the current inventory at the present sales pace. In 2024, the MOI stands at 5.3 months, indicating a neutral market. Historically, an MOI of less than 4.9 months signifies a seller’s market, while an MOI of more than 7 months indicates a buyer’s market. The current MOI suggests that the market is balanced but leaning slightly towards buyers due to the high inventory levels. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240615024503.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="199371" data-origin="," style=""></figure></div> The data from the past two decades highlights significant shifts in the Austin real estate market. From the low inventory and high sales during the pandemic-driven boom in 2020 and 2021 to the current high inventory and lower sales, the market dynamics have evolved considerably. These changes reflect broader economic trends, including interest rate adjustments, housing policies, and demographic shifts influencing the real estate landscape. Understanding these trends is crucial for both buyers and sellers. For buyers, the high inventory levels mean more options and potentially better deals as sellers may be more willing to negotiate. For sellers, it is essential to price properties competitively and be prepared for longer times on the market. Keeping an eye on these metrics will help market participants make informed decisions. As we move forward, monitoring inventory levels, sales data, and MOI will be vital in predicting future trends and understanding the Austin real estate market's trajectory. The current data provides a snapshot of a market in transition, offering opportunities and challenges for everyone involved.&nbsp;This article is based on data published on June 15, 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/market-update">Austin-Area Market Update</a>

June 15, 2024 : Explore the latest trends in the Austin real estate market, where inventory levels have reached their highest since October 2011. This detailed analysis covers active listings, sold properties, and months of inventory from 2005 to 2024, offering insights for buyers and sellers.

Austin Real Estate Market Reaches Highest Inventory Since 2011

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