<a href="https://teamprice.com/sold-price-to-list-price-ratio">Sold Over List Price</a> in Austin: What 20+ Years of Data Reveals Over the past two decades, the Austin real estate market has experienced significant fluctuations in the percentage by which homes sell over their list prices. This data, ranging from 2000 to 2024, reveals compelling trends in Austin's housing market, offering insights into buyer behavior and market competitiveness. From a steady climb in <a href="https://teamprice.com/sold-price-to-list-price-ratio">over-list sales percentages</a> through the early 2000s to peak demand in recent years, Austin's housing market has shown how dynamic it can be. In the early 2000s, the percentage of <a href="https://teamprice.com/sold-price-to-list-price-ratio">properties sold over list price in Austin</a> started modestly. In 2000, the average percentage peaked at 30.8% by June, highlighting a growing interest in Austin’s real estate market even then. This pattern of sales percentages hovering in the high teens and low twenties continued into the 2000s, with some monthly highs reaching just above 26%. Despite some fluctuations, the market remained relatively stable until 2020. The Austin real estate market experienced its most dramatic surge in 2021. During this period, the percentage of <a href="https://teamprice.com/sold-price-to-list-price-ratio">properties sold over list price</a> reached unprecedented heights, with an April high of 72.6%. These elevated percentages persisted throughout the year, reflecting a time of strong demand and highly competitive bidding. Many factors contributed to this demand spike, including positive net migration, increased employment opportunities, and a desirability that led to intense buyer competition. This trend extended slightly into 2022, though the numbers started to decline as the market began cooling. By mid-2022, as inventory levels increased and buyer demand started to wane, the average percentages of properties sold over list price dropped from 64.7% in March to 11.6% by December. In 2023, the market continued its downward trend, with percentages stabilizing to levels last seen before 2011. For example, the <a href="https://teamprice.com/sold-price-to-list-price-ratio" class="on">highest percentage of over-list sales</a> was in April at 17.9%, a significant decrease compared to the peaks of previous years. As of October 2024, Austin’s real estate market is seeing the lowest percentage of properties sold over list price in over a decade, reflecting a new era where buyers have greater opportunities to purchase homes without the need to outbid list 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/20241016032959.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-align="center" width="" height="" data-size="," data-percentage="auto,auto" data-index="0" data-file-name="austin-real-estate-sold-over-list-price-2000-2024.png" data-file-size="481585" data-origin="," style=""></figure></div> Throughout the past few years, Austin has transformed into a balanced market, where buyers are finding more options and less competition. With the surge in over-list sales percentages cooling, it has become an opportune time for buyers who were previously priced out. As Austin continues to evolve, these trends demonstrate that while the market can be fiercely competitive, there are periods when opportunities for buyers emerge, enabling them to find the right home at the right price​

Explore the changing trends in Austin’s real estate market, focusing on homes sold over list price from 2000 to 2024. Discover how demand surged to record highs, influencing prices and creating buyer opportunities as the market cooled

Austin Real Estate Trends: Sold Over List Price from 2000 to 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

Analyzing <a href="https://teamprice.com/cities/lakeway-tx">Lakeway's Real Estate Market</a>: Price Drops and Inventory Trends <a href="https://teamprice.com/cities/lakeway-tx">Lakeway, Texas</a>, is experiencing significant price adjustments in its residential real estate market. As of October 8, 2024, there are 119 active residential listings, with a notable 68.1% of these properties having undergone price reductions. This data reveals a trend where sellers are adjusting their prices to align with current market conditions. In fact, the average price drop is approximately $122,000, which equates to a 9.6% reduction from the original list price. The median price reduction stands at $76,000 or 7.9%, indicating substantial markdowns that could potentially attract more 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/20241008074458.png" alt="" width="" height="" style=""></figure></div> When examining the overall market, listings are distributed across various price brackets, with the majority falling between $700,000 and $1,300,000. Price reductions are spread across all price ranges, but higher cuts are often seen in the upper price brackets. Specifically, the $550,000 to $700,000 range exhibits high buyer activity, with an Activity Index of 29%, indicating strong interest from potential buyers at these price points. In contrast, properties priced above $1,300,000 have lower buyer interest, reflected in their higher average <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory</a>. This metric, which measures how long it would take to sell all properties on the market at the current sales pace, varies widely depending on price. Properties in the $700,000 to $850,000 range have up to 11 months of inventory, whereas those around $400,000 show only 3 months, indicating a faster turnover for lower-priced homes. Looking at the broader Central Texas region, <a href="https://teamprice.com/cities/lakeway-tx">Lakeway</a> stands out with the highest percentage of price reductions. Other areas like Cedar Creek and <a href="https://teamprice.com/cities/georgetown-tx">Georgetown</a> also have a significant portion of listings with price drops, but Lakeway’s 68.1% is unparalleled. For comparison, <a href="https://teamprice.com/cities/cedar-creek-tx">Cedar Creek</a> and <a href="https://teamprice.com/cities/cedar-park-tx">Cedar Park</a> both show over 60% of active listings with price reductions, but their average price drops are $50,000 and $42,000, respectively, much lower than Lakeway’s $122,000 average. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241008074510.png" alt="" width="" height="" style=""></figure></div> Days on market is another critical factor in assessing market dynamics. In Lakeway, the average time a listing spends on the market is 145 days, with a median of 103 days. This duration indicates that while price cuts are prevalent, properties are not being absorbed at a particularly quick pace. Over half of the listings are vacant, which may appeal to buyers looking for immediate occupancy, while 16.81% of the active listings are new constructions. Only a small fraction, 2.52%, are tenant-occupied properties, suggesting that most properties on the market are intended for direct home buyers rather than investors. The report also highlights trends in market activity over the past year. The <a href="https://teamprice.com/real-estate-glossary/activity-index">Activity Index</a> has been increasing steadily from October 2023 to October 2024, indicating a growing interest in Lakeway properties, though inventory levels remain high. This shift suggests that while the market is experiencing high levels of inventory, buyer activity is gradually improving. Price reductions in Lakeway are not limited to one type of property or price range, but the most common cuts range between 5% and 15%, making up over 42% of listings with price drops. Properties with reductions exceeding 25% are rare but do exist, particularly in higher-priced homes where the dollar value of reductions can reach significant figures. As Lakeway’s market adjusts, it’s clear that sellers are becoming more competitive with pricing to attract buyers. With these substantial markdowns, prospective buyers have an opportunity to purchase homes at prices that reflect current market realities. However, the extended days on market and substantial months of inventory suggest that the Lakeway market remains highly favorable to buyers, with a diverse range of options available. Sellers might need to continue adjusting prices and expectations as the market evolves, especially with the current level of inventory and buyer interest in mind​

Latest trends in Lakeway’s real estate market with a detailed analysis of price drops, inventory levels, and buyer activity. Learn why 68% of Lakeway’s active listings have reduced prices and what this means for buyers and sellers as of October 2024

Lakeway Real Estate Market Update: Price Drops and Inventory Trends for October 2024

Why Austin Home Prices Fell 21.3%: A Decade of Real Estate Data September 26, 2024 : The City of Austin real estate market has experienced significant changes over the past decade, with a notable rise and subsequent correction in the <a href="https://teamprice.com/residential-price">average sold price per square foot</a>. From 2014 to 2024, the price of homes in Austin has shown both steady growth and moments of rapid appreciation, followed by a marked decline in recent 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/20240926044501.png" alt="" width="" height="" style=""></figure></div> In 2014, the <a href="https://teamprice.com/residential-price">average sold price per square foot in Austin</a> was $172. Over the next several years, prices increased gradually, reflecting healthy market growth. By 2019, the average price had risen to $239 per square foot, signaling strong demand in the Austin area. However, it was the period from 2020 to 2022 when the market saw a dramatic surge, driven by factors such as historically low interest rates and increased housing demand. The most significant rise occurred in 2021 and 2022. In May 2022, the <a href="https://teamprice.com/residential-price">average sold price per square foot</a> peaked at $442, marking the highest point in Austin's real estate history. This sharp increase represented a surge of over 85% in just a few short years, as prices climbed from $239 per square foot in 2019 to $442 per square foot in May 2022. Many buyers were priced out of the market during this period, as the rapid appreciation made homes less affordable. However, as is often the case in overheated markets, a correction followed. After reaching its peak in May 2022, Austin’s real estate prices began to decline. By September 2024, the average sold price per square foot dropped to $348, representing a 21.3% decrease from the market peak. This decline is indicative of the natural market cycle, where prices begin to correct after a period of unsustainable growth. This correction can also be seen when comparing prices across specific months. For instance, the average price in January 2024 was $337 per square foot, a noticeable drop from $385 per square foot in January 2022. Similarly, in March 2024, the price was $361 per square foot, compared to $416 per square foot in March 2022. These numbers clearly reflect the downward trend as the market stabilizes after the extreme price hikes seen during the pandemic boom. While the recent drop in prices may seem concerning to some, it is important to consider the overall long-term growth of Austin’s real estate market. Even with the recent decline, the average sold price per square foot is still significantly higher than it was in the mid-2010s. In September 2014, the average price was $190 per square foot, meaning the current price of $348 represents an increase of over 83% over the last decade. This pattern of rising prices followed by a correction aligns with the concept of mean regression in real estate. As prices skyrocketed in 2021 and 2022, they moved far above the historical trend line. The current price adjustments reflect a reversion to the mean, where the market returns to more sustainable levels in line with long-term growth trends. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240926044531.png" alt="" width="" height="" style=""></figure></div> As Austin continues to grow, its real estate market remains robust, despite the recent corrections. Buyers and sellers in the Austin area should understand these trends and the historical context when considering current pricing. The market is adjusting after a period of unprecedented growth, and while prices are down from their peak, the long-term outlook remains positive for those who are considering entering or exiting the market.​

The Austin real estate market has experienced a significant correction, with the average sold price per square foot dropping 21.3% from its May 2022 peak. This detailed analysis tracks the market's trends from 2014 to 2024, providing insights into the factors behind the price surge and subsequent decline. Learn how the market is stabilizing and what it means for buyers and sellers in the Austin area

Austin Real Estate Market: Average Price Per Square Foot Drops 21.3% Since Peak

Mortgage Activity up 11.4% Week over Week&nbsp; The <a href="https://teamprice.com/mba-purchase-index">Mortgage Bankers Association (MBA) Purchase Index</a> for September 25, 2024, came in at 148.2, marking a significant development in the U.S. housing market. This weekly report, which captures mortgage loan applications for purchasing homes, represents approximately 75% of U.S. mortgage activity. As a key leading indicator, the MBA Purchase Index provides insights into the demand for home purchases across the country and serves as a reflection of broader economic 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/20240925124135.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="mba purchase index up.png" data-file-size="157323" data-origin="," style=""></figure></div> Over the past several years, the <a href="https://teamprice.com/mba-purchase-index">MBA Purchase Index</a> has experienced a notable decline from its historical highs. For instance, in July 2005, the index reached 497.80, a stark contrast to today's figures. The Purchase Index saw similarly strong numbers in early 2021, with a peak of 348.20 in January of that year. However, as the market evolved, the index consistently dropped through 2022 and 2023, reaching 160.20 in January 2023 and 142.30 by September 2024. The data reflects the continuing challenges in the housing market, driven by various factors, including rising mortgage rates and fluctuating demand. The significant drop from early 2021 to September 2024 suggests a shift in market dynamics, particularly as housing affordability becomes a pressing issue for many buyers. Despite these lower figures, the index provides valuable insight into the current state of the market. Historically, the MBA Purchase Index has fluctuated with major economic events, and the current trend suggests that buyers are either being priced out of the market or are waiting for more favorable conditions. A detailed examination of the index over the years reveals various market cycles. For example, between 2000 and 2005, the MBA Purchase Index steadily climbed, reflecting the housing boom of that era. By 2006, however, the index began to decline, coinciding with the prelude to the 2008 financial crisis. In January 2008, the index was at 412.45, but by the end of that year, it had fallen sharply to 288.90. The aftermath of the financial crisis saw the index stabilize somewhat, fluctuating between 200 and 300 for much of the following decade. In more recent years, the Purchase Index continued to serve as a vital tool for assessing buyer activity. From 2019 to 2021, the index hovered between 250 and 350, with fluctuations corresponding to the COVID-19 pandemic and subsequent economic recovery efforts. For example, in July 2020, during the height of the pandemic, the index reached 325.20, as lower mortgage rates spurred increased home-buying activity. However, as the market stabilized post-pandemic, the index returned to more typical levels, eventually settling around 148.2 in September 2024. It's essential to note the cyclical nature of the housing market, as reflected in the <a href="https://teamprice.com/mba-purchase-index" class="on">MBA Purchase Index</a>. The index captures the ebb and flow of buyer demand, influenced by external economic factors such as interest rates, inflation, and employment trends. While today's lower numbers may seem concerning compared to the highs of previous years, they also indicate a market that is adjusting to new economic realities. With 148.2 as the latest reading, it's clear that the housing market is still in a state of flux. However, as past trends have shown, the market is resilient, and the Purchase Index will continue to be a valuable measure of buyer intent and overall market health.​

Explore the latest data from the MBA Purchase Index, revealing key insights into U.S. mortgage applications and housing market trends in 2024. Learn how the index reflects shifts in buyer activity and what it means for the future of home purchasing

MBA Purchase Index for September 2024: Key Insights into U.S. Housing Trends

Fannie Mae Home Purchase Sentiment Index (HPSI)Report for August 2024: An In-Depth Look at Consumer Sentiment September 12, 2024 : The housing market is a key indicator of economic health, and understanding consumer sentiment can help forecast future trends. <a href="https://teamprice.com/fannie-mae-home-purchase-sentiment-index">Fannie Mae's Home Purchase Sentiment Index (HPSI)</a>&nbsp;for August 2024 provides valuable insight into how Americans perceive the current housing market. This index is derived from six key components that gauge consumers' views on buying and selling homes, expectations for home prices and mortgage rates, and preferences between renting or buying. In August 2024, the HPSI was 72.1, reflecting a slight improvement in sentiment compared to earlier months of the year. Let’s dive into the details of the report, breaking down each of these components to understand the current state of the U.S. housing market: Improvement in Overall Sentiment:&nbsp;In August 2024, the <a href="https://teamprice.com/fannie-mae-home-purchase-sentiment-index">Home Purchase Sentiment Index (HPSI)</a> rose to 72.1, a slight improvement from previous months of the year. While consumer sentiment has been fluctuating, this rise indicates a slow recovery in confidence. The index is calculated from six different factors that are vital to the housing market, reflecting the overall health of market perceptions. Despite ongoing challenges, such as high mortgage rates and affordability concerns, the HPSI suggests that Americans are becoming more optimistic about the housing market. However, this rise is modest, and the market still faces significant headwinds that are holding back stronger gains in sentiment. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240912044042.png" alt="" width="" height="" style=""></figure></div> Buying Sentiment Remains Low:&nbsp;Despite improvements in the overall index, consumer sentiment about buying a home remains weak. Only 17% of respondents in August 2024 felt that it was a good time to buy a home, while 83% felt that it was a bad time. This low buying sentiment is a continuation of a broader trend seen throughout 2023 and into 2024. High mortgage rates and rising home prices are making it difficult for potential buyers to afford homes, and many are choosing to wait for more favorable conditions. This pessimism around buying reflects the broader affordability crisis in the housing market, which continues to deter many would-be homeowners from entering the market. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240912044119.png" alt="" width="" height="" style=""></figure></div> Selling Sentiment is Relatively Strong: On the flip side, selling sentiment remains much stronger. In August 2024, 65% of respondents said it was a good time to sell, while 34% disagreed. This shows that sellers are benefiting from limited housing inventory, which has kept prices high. In many markets, sellers are able to command strong prices for their homes, making this an attractive time to list properties. However, the 34% who believe it's a bad time to sell suggests that some sellers may be cautious due to the same affordability issues that are impacting buyers. Overall, the strength in selling sentiment highlights the divide between those who already own homes and those looking to buy.​Expectations for Home Prices: The outlook on home prices is mixed, with 37% of respondents in August 2024 expecting prices to rise, while 25% expect them to fall. This disparity in views reflects the uncertainty in the market. While limited supply and high demand in some areas are driving prices upward, rising mortgage rates and affordability issues are putting downward pressure on prices in other regions. The mixed expectations indicate that while home prices may continue to increase in some markets, other areas could see stabilization or even declines. These competing forces make predicting future price trends challenging, adding to the uncertainty for both buyers and sellers. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240912044218.png" alt="" width="" height="" style=""></figure></div>​Mortgage Rate Outlook: Mortgage rates continue to be a major concern for consumers. In August 2024, 26% of respondents believed that mortgage rates would rise, while 39% expected rates to go down. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240912044250.png" alt="" width="" height="" style=""></figure></div> Rent vs. Buy Preferences: Despite the challenges in the market, homeownership remains a strong aspiration for many Americans. When asked whether they would prefer to buy or rent if they were to move, 68% of respondents said they would buy, while 32% said they would rent. This shows that even with the current affordability issues, the desire to own a home is still prevalent. However, the significant portion of respondents preferring to rent suggests that many consumers are being forced into renting due to high home prices and mortgage rates. The split between renting and buying preferences highlights the ongoing affordability crisis that is preventing many from achieving homeownership. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240912044339.png" alt="" width="" height="" style=""></figure></div> Is It a Good Time to Buy or Sell? Based on the data from the August 2024 HPSI, the answer depends largely on your individual situation. For sellers, current market conditions present a favorable environment with 65% of consumers believing it’s a good time to sell. Low inventory and high demand in certain regions continue to push prices up, making it an opportune time for sellers to maximize their returns. On the other hand, buyers face a more challenging landscape. With only 17% of respondents saying it's a good time to buy, affordability concerns, driven by high mortgage rates and rising home prices, are making it difficult for many to make a move. However, the decision ultimately depends on your personal circumstances, including financial readiness and long-term goals. If you're unsure how this data applies to your situation, it’s important to speak with a real estate professional who can help you navigate the market and provide guidance tailored to your needs. Contact us today with any specific questions to explore your best options in this complex housing market.

Discover the latest insights from the August 2024 Fannie Mae Home Purchase Sentiment Index. Learn how consumers feel about buying, selling, home prices, and mortgage rates, with data-driven insights into the current U.S. housing market.

Fannie Mae Home Purchase Sentiment Index August 2024: Market Sentiment Explained

Median Price-to-Income Ratio Approaches Pre-Pandemic Norms August 29, 2024 : The median sold price-to-income ratio is an essential metric for understanding housing affordability in the real estate market. Recently, this ratio has shown significant improvement, approaching pre-pandemic levels due to a combination of decreasing median home prices and more favorable mortgage rates. As of August 2024, the median sold price-to-income ratio stands at 4.13, which marks a considerable shift from the peak of 5.75 observed in April 2022. This change is a crucial indicator of how the market is evolving and what it means for potential homebuyers. To provide some historical context, the median sold price-to-income ratio was 3.98 in March 2020, just before the pandemic began to significantly impact the global economy and, consequently, the housing market. This ratio represents the relationship between median home prices and median household incomes, offering a clear picture of how affordable homes are relative to the average buyer's income. The average ratio over the years has been around 3.73, which many consider a benchmark for balanced affordability in the housing market. During the pandemic, various factors contributed to a dramatic increase in home prices, leading to the ratio's peak at 5.75 in April 2022. This peak reflected the height of the housing market boom, where low-interest rates, limited inventory, and high demand drove prices to record levels. As a result, affordability declined, making it increasingly challenging for many potential buyers to enter the market. However, the current ratio of 4.13 suggests that the market is gradually stabilizing. This decline from the peak is due in large part to a reduction in median home prices, coupled with improved mortgage rates that have eased some of the financial burdens on homebuyers. The movement towards the pre-pandemic ratio of 3.98 is a positive sign for those looking to purchase homes, as it indicates a return to more sustainable market conditions. It is also noteworthy that while the current ratio is still above the long-term average of 3.73, the trend suggests ongoing improvement. As the market continues to adjust, there may be further reductions in the ratio, which would indicate even greater affordability for potential buyers. This shift could be particularly beneficial for first-time homebuyers or those who were previously priced out of the market during the peak. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240829064446.png" alt="" width="" height="" style=""></figure></div> In conclusion, the median sold price-to-income ratio is a vital metric that provides insight into the health of the housing market. The recent drop to 4.13, approaching pre-pandemic levels, is a promising development for both buyers and the market as a whole. As the market continues to stabilize, keeping an eye on this ratio will be essential for understanding future trends in housing affordability. ​

August 29, 2024 : Discover how the median sold price-to-income ratio is returning to pre-pandemic levels, signaling improved housing affordability. Learn what this means for homebuyers in 2024 as the real estate market stabilizes

Austin-Area Housing Affordability Improves as Median Price-to-Income Ratio Nears Pre-Pandemic Levels

Austin-Area MLS: A Detailed Look at Peak and Current Property Values August 22, 2024 : The "Residential Peak Value Analysis" for both the Austin-Area MLS and the City of Austin presents an insightful overview of how the real estate market has adjusted from its peak periods, providing a detailed examination of various price metrics. This analysis offers a clear comparison between the broader Austin-area MLS and the City of Austin, revealing significant trends that are crucial for understanding current market conditions. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240822113021.png" alt="" width="" height="" style=""></figure></div>​ Austin-Area MLS Overview : The data for the Austin-Area MLS indicates that the peak values in various metrics were reached between April 2022 and April 2024. The most recent peak in average list price occurred in April 2024 at $712,290, but since then, it has dropped by 10.0%, settling at $641,130. This decline is echoed across other key metrics, such as median list price, average sold price, and median sold price, which all saw their peaks in May 2022. Specifically, the median sold price experienced the most significant drop, falling by 19.8% from $538,000 to $431,683. Similarly, the average sold price per square foot decreased by 17.9%, and the median sold price per square foot declined by 18.6%. These trends indicate a market correction that began in mid-2022, suggesting that the rapid appreciation observed in prior years was unsustainable. The data highlights a cooling period where sellers are adjusting their expectations, and buyers are responding to changing market dynamics, possibly influenced by factors such as rising interest rates, economic uncertainties, or shifts in housing demand. City of Austin Overview:&nbsp;The City of Austin, while experiencing a similar trajectory, displays slightly different nuances compared to the broader Austin-Area MLS. For instance, the peak average list price for the City of Austin was recorded in April 2024 at $951,762. This price has since declined by 6.7%, reaching $888,107. The decline in the City of Austin's median sold price, which peaked at $680,000 in May 2022, is notable at 15.4%, bringing the current median sold price to $575,000. The per-square-foot prices in the City of Austin also mirror the broader MLS trends, with an 18.8% drop in the median sold price per square foot from its peak in April 2022. The average sold price per square foot saw a decline of 17.9% since May 2022. These figures suggest that while the City of Austin continues to command higher absolute prices compared to the broader Austin area, it is not immune to the market's cooling trends. Comparative Insights :&nbsp;When comparing the Austin-Area MLS with the City of Austin, a few key differences emerge. The City of Austin generally experienced higher peak prices and subsequently smaller percentage declines compared to the Austin-Area MLS. For example, the drop in the average list price from the peak was 6.7% in the City of Austin, compared to 10.0% in the Austin-Area MLS. However, the City of Austin's median sold price per square foot experienced a slightly larger decline (18.8%) compared to the broader area's 18.6%, suggesting a more significant correction in the valuation of properties on a per-square-foot basis within the city. Market Implications:&nbsp;The data from this analysis underscores the importance of understanding both the macro trends across the broader Austin market and the micro trends within the City of Austin. For sellers, this means adjusting expectations to align with current market conditions, while buyers may find opportunities in this market correction phase. The considerable drops from peak values, particularly in sold prices, could signal a more buyer-friendly environment, depending on individual circumstances and market segments. Overall, this analysis paints a picture of a market that has retreated from its peak exuberance, moving toward a more balanced state where both buyers and sellers need to navigate carefully.

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

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

Welcome to our "Monday Morning Touch Point: Austin Real Estate Market Update | August 19, 2024 " video recap! If you missed the live session, don’t worry; we have all the essential data and insights right here. Whether you’re looking to buy, sell, or just stay informed, this analysis provides a snapshot of the current real estate dynamics in Austin as we navigate through an evolving market landscape. <div class="se-component se-video-container __se__float-center" style="min-width: 100%; width: 75%;"><figure style="width: 75%; height: 56.25%; padding-bottom: 42.19%;"><iframe frameborder="0" allowfullscreen="" src="https://www.youtube.com/embed/cWdAnE062CI" width="75%" height="56.25%" style="width: 100%; height: 100%;"></iframe></figure></div> As of mid-August 2024, Austin’s real estate market continues to adjust to both seasonal shifts and broader economic indicators. This month’s focal point has been the new listing to pending ratio, a critical measure that helps gauge market activity. Recently, this ratio stood at 0.69, indicating a slower uptake of new listings compared to previous weeks, largely influenced by the onset of the school year. This ratio is calculated by dividing the total number of new and re-entered listings by those that have gone under contract or are pending. Inventory management has become increasingly strategic, with a noticeable trend in property withdrawals. This tactic suggests that more sellers are choosing to lease rather than sell, evidenced by a surge in active lease listings. Moreover, a significant 91% of all price adjustments were reductions, indicating that many sellers are repositioning their properties to attract buyers in a competitive market. On a month-to-month basis, the <a href="https://teamprice.com/real-estate-glossary/activity-index">activity index</a>—a metric showing the ratio of pending sales to new listings—improved slightly to 0.64 but still points to a market that leans towards buyers. This tepid demand contrasts with the considerable number of listings being withdrawn from the market, hinting at a potential increase in sales listings as these temporary leases expire by next year. Our detailed analysis also highlights the leasing market’s robust activity, suggesting that this might become a prolonged trend if the current market conditions persist. This strategic shift from selling to leasing could reshape buyer and seller strategies moving forward. This video aims to embed crucial market insights directly into your strategy, whether you're navigating purchases, sales, or simply keeping an eye on the market. Stay tuned for more updates and ensure you're equipped with the latest information to make informed real estate decisions in Austin.

August 19, 2024 : Dive into our latest Monday Morning Touch Point for an in-depth analysis of the Austin real estate market as of August 19, 2024. This video recap offers essential insights into inventory trends, pricing adjustments, and market dynamics, making it a must-watch for anyone interested in Austin's housing landscape.

Monday Morning Touch Point: Austin Real Estate Market Update | August 19, 2024

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

Understanding the Real Estate Market: New Listing to Pending Ratio and Active Listings July 13, 2024 : The real estate market is a dynamic and ever-changing environment that can be challenging to navigate. One way to gain insights into the market's health is by examining the <a href="https://teamprice.com/new-listing-to-pending-ratio">New Listing to Pending Ratio</a> and the number of active listings. This ratio, created by Team Price Real Estate, compares the number of new listings (including those that come back on the market) to the number of pending sales (active under contract and pending). It serves as a valuable tool for understanding whether the market is in equilibrium, favoring buyers, or favoring sellers. A ratio of 1.00 indicates a balanced market where the number of new listings equals the number of properties being sold. For example, if 1,000 new listings come onto the market and 1,000 are absorbed, the ratio is 1.00. If the ratio falls below 1.00, it means fewer homes are being sold than are listed, leading to an increase in inventory. Conversely, a ratio above 1.00 indicates a higher rate of sales compared to new listings, resulting in a decrease in active inventory. The data provided from 2005 to 2024 highlights various market conditions. In 2007, the <a href="https://teamprice.com/new-listing-to-pending-ratio">New Listing to Pending Ratio</a> reached its peak at 1.26 in April and May, showing a super-hot market where homes were selling faster than new ones were being listed. In contrast, 2001 experienced the lowest ratio at 0.45 in September, indicating a cold market with rapidly increasing inventory. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240713052603.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="new listing to pending ratio.png" data-file-size="393707" data-origin="," style=""></figure></div> Examining the number of active listings alongside the ratio offers additional insights. For instance, in 2008, the market faced significant challenges due to the financial crisis. Despite having a high number of active listings, with a peak of 13,384 in June, the New Listing to Pending Ratio dropped to 0.50 in October. This indicates that the market was struggling to absorb the available inventory, leading to a buildup of unsold homes. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240713052734.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="117731" data-origin="," style=""></figure></div> In recent years, the data reflects the impact of the COVID-19 pandemic on the real estate market. In 2021, the number of active listings in January was the lowest in the dataset at 2,842, and February was similar at 2,703. During this time, the New Listing to Pending Ratio remained above 1.00 for most of the year, reflecting a strong demand for homes driven by low-interest rates and changing housing preferences. By 2022, the market began to cool down, with the ratio dropping as low as 0.58 in June, indicating increasing inventory levels as market conditions stabilized. Seasonal trends are also evident in the data. Generally, the number of active listings tends to rise during the spring and summer months, peaking around June or July, and then decreases towards the end of the year. The New Listing to Pending Ratio often mirrors this seasonality, with higher values in the spring and summer when market activity is typically at its highest. Long-term trends indicate a gradual shift towards a seller's market. From 2011 to 2021, the ratios generally increased, while the number of active listings decreased. This trend is particularly noticeable in 2021, with the sharp drop in active listings and consistently high ratios, signifying strong market absorption and 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/20240713052943.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="moi.png" data-file-size="222916" data-origin="," style=""></figure></div> July 2024: Recent Trends and Forecasts :&nbsp;As of July 2024, the real estate market is experiencing significant changes due to a recent increase in interest rates. The Federal Reserve's benchmark rate has been stable at 5.33% since the beginning of the year. <a href="https://teamprice.com/30-year-fixed-mortgage-rate">Mortgage rates</a> have also seen fluctuations, with the 30-year fixed mortgage rate averaging around 6.89% in early July 2024. These higher interest rates have impacted affordability, making it more challenging for potential buyers to enter the 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/20240713052838.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="rates.png" data-file-size="103661" data-origin="," style=""></figure></div> Despite the increase in interest rates, more listings are entering the market. This influx is partly due to sellers trying to capitalize on the still relatively high property values before potential further rate hikes. The <a href="https://teamprice.com/active-residential-listings">number of active listings</a> in July 2024 is 15,682, a significant increase from the same month in previous years. The New Listing to Pending Ratio for July is 0.54, indicating that while more properties are coming onto the market, the absorption rate is slightly lagging, leading to a modest buildup in inventory. Forecasts :&nbsp;Looking ahead, the market is expected to remain somewhat volatile. The <a href="https://teamprice.com/30-year-fixed-mortgage-rate">higher interest rates</a> are likely to continue impacting affordability, potentially dampening buyer demand. However, if rates stabilize or decrease slightly towards the end of the year, as some forecasts suggest, we might see a rebound in buyer activity. The <a href="https://teamprice.com/new-listing-to-pending-ratio">New Listing to Pending Ratio</a> is expected to hover around the current levels, with minor fluctuations reflecting the seasonal trends and economic conditions. Overall, understanding the New Listing to Pending Ratio and active listings data can help real estate professionals, buyers, sellers, and investors make informed decisions. This ratio serves as a real-time indicator of market conditions, reflecting periods of equilibrium, overheated markets, and slowdowns. By analyzing these trends, stakeholders can anticipate market changes, strategically plan their actions, and navigate the complex real estate landscape more effectively.​

July 13, 2024 : Discover how the New Listing to Pending Ratio and active listings data reveal real estate market trends. Learn how this key metric can help you understand market conditions, anticipate changes, and make informed decisions in the real estate industry

Understanding the Real Estate Market with New Listing to Pending Ratio

What's Happening in July 2024 with the Average Price Going Up So Much July 09, 2024 : In July 2024, the residential real estate market is witnessing significant changes that are noteworthy for both buyers and sellers. While we have projected that 2,526 homes will be sold this month, this projection is based on the data from the 514 homes that have already been sold so far. Despite this drop in sales compared to previous months and the same period last year, there has been a noticeable increase in home prices, capturing the attention of market analysts and participants alike. The projected total number of homes sold in July 2024 is 2,526, which represents a 6.4% decrease from June 2024, where 2,698 homes were sold. When compared to July 2023, the decline is even more pronounced, with a 10.5% drop from the 2,821 homes sold last year. This decrease in the number of transactions indicates a cooling in the volume of sales, which could be due to various factors such as seasonal trends, economic conditions, or changes in buyer behavior. Interestingly, while the number of homes sold has decreased, the average selling price has seen a significant increase. Based on the sales so far this month, the average price of a home sold in July 2024 is $630,037. This is a substantial 9.4% increase from the previous month of June 2024, where the average selling price was $575,980. Compared to July 2023, the average selling price has risen by 6.0%, up from $594,567. This upward trend in prices suggests that the demand for homes remains strong, or there is a limited supply of homes available, driving up the 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/20240709091439.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="market cycle.png" data-file-size="376172" data-origin="," style=""></figure></div> The median selling price also reflects this upward trend. In July 2024, the median price of homes sold so far is $475,000, which represents a 6.1% increase from June 2024's median price of $447,500. Compared to July 2023, the median price has increased by 3.3%, from $460,000. The median price is a critical indicator as it shows the middle point of all transactions, providing a more accurate reflection of the market without being skewed by extremely high or low prices. Another important metric to consider is the sold-to-list price ratio, which indicates how close the final selling price is to the initial listing price. In July 2024, the sold-to-list price ratio is 97.42%, slightly down from June 2024's ratio of 97.49%. This small decrease shows that homes are still selling relatively close to their asking prices, suggesting a competitive market where buyers are willing to meet sellers' pricing expectations. These trends highlight a unique situation in the real estate market for July 2024. While the number of homes being sold is decreasing, the prices are climbing. This could be indicative of a market where supply is not meeting demand, causing prices to rise even as fewer transactions take place. For buyers, this means facing higher costs, while sellers might find themselves in a favorable position to capitalize on the current market conditions. Understanding these dynamics is crucial for anyone involved in the real estate market, whether you're buying, selling, or simply keeping an eye on market trends. The increase in average and median prices, despite fewer sales, is a significant development that could influence market strategies and decisions moving forward. ​

July 09, 2024 : What's happening in the Austin real estate market in July 2024. Despite a projected decrease in home sales, average prices have surged. Learn about the trends and what they mean for buyers and sellers.

Why Are Home Prices Rising in July 2024 Despite Fewer Sales?

Detailed Analysis of Austin's Housing Market Using FMHPI® Data July 04, 2204 : The Freddie Mac House Price Index (FMHPI®) provides a detailed measure of house price inflation across various metropolitan areas in the United States. This index is crucial for understanding the dynamics of the housing market. In this article, we will focus on the housing market trends in Austin, Texas, using the latest data from the FMHPI®. From January 2020 to May 2024, house prices in Austin increased significantly by 46.3%. This period marks a robust upward trend in the housing market, reflecting increased demand and a limited supply of homes. The market's performance from January 2021 to May 2024 also showed a notable rise of 23.0%. However, from May 2022 to May 2024, the market experienced a correction, with house prices decreasing by 12.2%. When comparing Austin's housing market with other major metropolitan areas, we see varying trends. For example, Atlanta saw a 62.3% increase in house prices from January 2020 to May 2024, while Boston experienced a 48.5% rise in the same period. Chicago's house prices increased by 46.5%. These comparisons highlight that while Austin's growth was significant, it was not the highest among major cities. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240704041947.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="austin housing market national update.png" data-file-size="197163" data-origin="," style=""></figure></div> The data also shows that from peak prices, Austin's housing market experienced a 12.2% drop. Year-over-year, there was a decrease of 2.2% in house prices, indicating a slight cooling in the market. Despite this, the month-over-month data shows a small increase of 2.0%, suggesting some stabilization. The FMHPI® also provides historical data, which is essential for understanding the long-term trends in the housing market. For Austin, the yearly data from 1976 to 2024 shows various peaks and troughs. This long-term data reflects the cyclical nature of the housing market, influenced by economic conditions, interest rates, and other factors. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240704042028.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="history.png" data-file-size="87546" data-origin="," style=""></figure></div> From 2020 onwards, the Austin housing market saw significant changes. The year 2020 recorded steady growth, with monthly increases averaging 1.3%. In 2021, the market experienced the highest year-over-year increase at 30.9%, marking a boom period. However, by 2022, the market began to correct, with prices decreasing in the latter part of the year and continuing into 2023 and 2024. The data from the FMHPI® is crucial for anyone involved in the housing market, including investors, homeowners, and policymakers. It helps in making informed decisions by providing a clear picture of the market's performance over time. The detailed statistics and comparative analysis with other cities offer valuable insights into Austin's housing market trends. In conclusion, the Freddie Mac House Price Index (FMHPI®) data reveals a dynamic housing market in Austin, characterized by significant growth followed by a period of correction. Understanding these trends is essential for navigating the ever-changing landscape of real estate in Austin, Texas.&nbsp;This article is based on data published on July 04, 2024 with data for the month ending June 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/freddie-mac-house-price-index">Freddie Mac House Price Index</a>

July 04, 2024 : Discover the latest trends in Austin's housing market with an in-depth analysis of the Freddie Mac House Price Index (FMHPI®). Learn about significant price changes, comparative insights with other cities, and historical data to make informed real estate decisions

Austin Housing Market Trends: Insights from Freddie Mac House Price Index

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 Lease Property Market Surpasses 6,000 Listings in June 2024 June 20, 2024 : The Austin-area lease property market has experienced remarkable growth over the past decade, with a significant milestone reached in June 2024. For the first time, the inventory levels for lease properties have surpassed 6,000, standing at 6,361 active listings. This increase reflects a broader trend of expansion and change within the market, offering insights into the evolving dynamics of real estate in Austin. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240621123050.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="lease.png" data-file-size="300009" data-origin="," style=""></figure></div> In January 2014, the number of active lease listings was 1,892. Over the next decade, this figure saw a steady rise, culminating in a substantial increase to 5,046 by January 2024. This pattern continued throughout the year, with February 2024 recording 4,864 active listings, a significant rise from the 1,776 listings in February 2014. March has shown a notable increase as well. In 2014, the active listings were 1,868, which grew to 4,754 by March 2024. The trend persisted through April, where listings jumped from 2,123 in 2014 to 5,098 in 2024. May saw a similar trend, with listings rising from 2,412 in 2014 to 5,958 in 2024. June 2024 marks a pivotal point, with 6,361 active lease listings, the highest in a decade. This growth is part of a broader pattern observed throughout the year. July 2023 had 5,525 listings, reflecting the rising demand and supply in the Austin lease market. By August 2023, the listings had increased to 5,713, and by September 2023, they reached 5,796. October 2023 saw 5,734 active lease listings, continuing the upward trend. In November 2023, the listings were at 5,449, and by December 2023, they had slightly decreased to 5,161. However, the overall trend shows significant growth year-over-year. The average number of active lease listings from 2014 to 2024 also highlights this growth. In 2014, the average was 2,315 listings, which increased to 5,347 by 2024. This upward trajectory is a testament to the changing landscape of the Austin lease property market. Year-over-year changes further underscore this growth. From 2015 to 2016, there was a notable increase in most months, with February 2015 showing a 15.6% rise compared to the previous year. The market saw slight decreases in 2017-2018, indicating a period of adjustment. However, from 2020 to 2021, a significant decrease likely due to market disruptions was observed. The sharp increases from 2023 to 2024 reflect a strong rebound, with June 2024 showing a 108.7% increase from the previous year. Graphs illustrating the number of active lease listings and year-over-year percentage differences paint a clear picture of this growth. The sharp upward trend from 2022 to 2024 highlights the increasing demand and supply in the lease market. The peak inventory levels in June 2024 and the troughs during 2021 reflect the market's response to various factors, including economic conditions and market demands. The substantial increase in inventory levels in 2024 suggests a significant expansion in the lease market, driven by higher demand and an increase in property 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/20240621011327.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="graphs.png" data-file-size="139168" data-origin="," style=""></figure></div> The data from the past decade reveals a consistent pattern of seasonal variations, with inventory typically peaking during the mid-year months of May to August. This pattern provides valuable insights for stakeholders, including property managers, rental agents, and investors, as they navigate the evolving market dynamics. In conclusion, the Austin-area lease property market has reached a significant milestone with over 6,000 active listings in June 2024. This growth reflects broader trends and changes within the market, providing a detailed look at the evolving real estate landscape in Austin. The consistent increase in inventory levels highlights the strong demand for lease properties and the market's capacity to meet this demand.&nbsp; This article is based on data published on June 20, 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 Residential Lease Inventory</a>

June 20, 2024 : Latest trends in the Austin lease property market, which has surpassed 6,000 active listings in June 2024. This detailed analysis provides insights into the significant growth and evolving dynamics of the market over the past decade.

Austin Lease Property Market Hits New High with Over 6,000 Listings in June 2024

Understanding the New Listing to Pending Ratio: 2022-2024 Trends June 19, 2024 : The <a href="https://teamprice.com/agent/articles/140923/Understanding the New Listing to Pending Ratio: 2022-2024 Trends">New Listing to Pending Ratio</a> is a crucial metric in the real estate market, indicating the balance between new listings and properties that go under contract. This ratio helps us understand whether the market is in equilibrium, absorbing new listings at the same rate they are introduced, or if there is a discrepancy causing changes in inventory levels. In 2022, the real estate market saw significant fluctuations in this ratio. January started strong with a ratio of 1.32, indicating a higher absorption rate where more properties went under contract than were newly listed. This trend continued through the first quarter, with February at 1.15 and March at 1.02, maintaining a relatively balanced market. However, as we moved into the second quarter, the ratio dropped to 0.90 in April and further to 0.83 in May, suggesting a slight increase in inventory. June saw a sharper decline to 0.58, indicating a substantial increase in inventory levels as fewer properties went under contract relative to new listings. The market attempted a recovery in July with a ratio of 0.63, followed by a modest increase to 0.76 in August. The last quarter of the year saw a mix of slight improvements and stability, with ratios of 0.66 in September, 0.71 in October, 0.85 in November, and a strong finish at 1.03 in December. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240619074011.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="ratio.png" data-file-size="62749" data-origin="," style=""></figure></div> Moving into 2023, the market dynamics shifted. January began with a lower ratio of 0.88, already showing signs of increased inventory compared to the previous year. February saw a slight improvement to 0.95, almost reaching equilibrium, but March dropped to 0.79, indicating a growing inventory. April's ratio of 0.91 suggested a temporary balance, but May and June continued the trend of increased inventory with ratios of 0.81 and 0.77, respectively. July saw an improvement to 0.83, maintaining a more balanced market. August through October showed a consistent pattern with ratios of 0.74, 0.71, and 0.77, respectively. November’s ratio of 0.82 indicated a stable market as the year drew to a close, while December saw a significant increase to 1.08, marking a higher absorption rate than new listings. In 2024, the market showed continued trends of fluctuating ratios. January started with a ratio of 0.89, similar to the previous year, followed by a slight decrease to 0.81 in February. March saw a further drop to 0.76, indicating a rising inventory. April's ratio of 0.71 and May’s 0.66 continued this trend, with June maintaining the same ratio of 0.66. These numbers highlight an ongoing increase in inventory as the market absorbs fewer properties compared to new 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/20240619074024.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="ratio 2000.png" data-file-size="393437" data-origin="," style=""></figure></div> Understanding these monthly trends in the <a href="https://teamprice.com/new-listing-to-pending-ratio">New Listing to Pending Ratio</a> provides valuable insights into the real estate market’s behavior. The data from 2022 to 2024 reveals periods of market equilibrium, fluctuations, and trends in inventory changes, crucial for making informed decisions in real estate transactions.&nbsp;This article is based on data published on June 19, 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/new-listing-to-pending-ratio">Austin New Listing to Pending Ratio</a>

June 19, 2024 : Explore the detailed monthly trends in the New Listing to Pending Ratio from 2022 to 2024. Understand how the balance between new listings and pending sales impacts real estate market inventory and equilibrium.

Understanding the New Listing to Pending Ratio: 2022-2024 Trends

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

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

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

Real Estate Sales Analysis for Austin and Surrounding Cities

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