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<a href="https://teamprice.com/building-permits">Austin-Area Building Permit Data</a> Highlights Regional Growth Trends December 23, 2024 : The Austin-area metropolitan statistical area has experienced significant developments in construction activity, as evidenced by the <a href="https://teamprice.com/building-permits">latest building permit data for the Austin Area</a> released for November 2024. This report sheds light on residential and multi-unit housing trends in one of the fastest-growing regions in the country, showcasing a detailed analysis of permits issued and their broader implications. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241223043025.png" alt="" width="" height="" style=""></figure></div>​For all units combined, November permits surged to levels 93.9% above the historical monthly average, emphasizing the strong construction momentum. Year-to-date cumulative permits from January to November 2024 have been 42.6% higher than the long-term average, reflecting sustained growth across the housing market.&nbsp; Focusing on single-family homes, permits issued in November 2024 were 26.1% above the historical monthly average, reinforcing the continued demand for single-unit residential properties. Over the first eleven months of the year, cumulative permits for this category outpaced the average by 32.1%, highlighting robust activity in Austin's suburban and urban residential sectors. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241223043048.png" alt="" width="" height="" style=""></figure></div>​The market for multi-family units comprising 2 to 4-unit structures also saw an increase, with November permits registering 14.8% above average. More notably, cumulative year-to-date permits in this category soared to 76.9% above the historical average. This surge indicates a growing interest in small multi-family developments, likely fueled by a combination of investment opportunities and changing housing preferences among Austin residents. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241223043108.png" alt="" width="" height="" style=""></figure></div>​For larger-scale developments of 5 or more units, the data demonstrates sustained interest, with year-to-date cumulative permits continuing to exceed historical benchmarks. While the month-to-month numbers reflect variations, the year-to-date trends underscore Austin's appeal for developers focused on large multi-family housing projects, which are vital for addressing the region's housing demands. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241223043124.png" alt="" width="" height="" style=""></figure></div> When analyzing the data in terms of permits issued per 100,000 population, a nuanced picture emerges. For all units, November figures were 46.8% above average, underscoring Austin’s leadership in meeting housing demands despite rapid population growth. However, the 1-unit permits per 100,000 population fell slightly below average by 6.9%, suggesting that while single-family housing remains strong, its share relative to population growth may be stabilizing. Conversely, permits for 2 to 4-unit structures and 5+ unit developments show continued upward trends, highlighting diverse housing options being developed to meet the city's growing needs. This detailed analysis of the Austin-area building permits provides valuable insights into the region's evolving housing market. Developers, investors, and residents alike can use this data to understand the ongoing construction trends shaping Austin’s landscape.&nbsp;

Latest Austin-area building permit trends with November 2024 data. Learn how single-family and multi-unit housing developments are shaping the region's growth, with cumulative permits exceeding averages across all categories

Austin Housing Market 2024: Building Permit Trends and Growth Analysis

Understanding <a href="https://teamprice.com/austin-real-estate-absorption-rates-market-demand">Absorption Rates in Austin’s Real Estate Market</a>: A Comprehensive Analysis by Price Point The Austin real estate market continues to evolve, offering diverse opportunities for both buyers and sellers. By analyzing <a href="https://teamprice.com/austin-real-estate-absorption-rates-market-demand">absorption rates</a>, we can gain valuable insights into market demand, price competitiveness, and buyer-seller dynamics. Absorption rates, which measure the pace at which homes are sold relative to the number of active listings, provide a clear snapshot of market activity. This report offers a breakdown of Austin’s market conditions by price point, revealing important 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/20241223033740.png" alt="" width="" height="" style=""></figure></div>​In the $200,000 to $300,000 price range, the market reflects a mix of activity levels. Properties in this segment primarily fall into the yellow/orange category, indicating moderate demand with a balanced market environment. This balance suggests that buyers have some negotiating power, while sellers can still achieve favorable outcomes with strategic pricing. However, there are instances of light green demand, showing pockets of stronger competition.​As we move into the $400,000 to $600,000 range, the market begins to exhibit stronger signs of activity. Yellow/orange demand remains prominent, but light green demand is increasingly visible. For homes priced at $500,000, strong demand is noticeable, with sellers experiencing shorter time on the market. Meanwhile, higher-end properties in the $700,000 to $900,000 range show varied activity. While yellow/orange demand is consistent, light green and even dark green demand levels highlight extremely competitive conditions in certain areas, especially for well-maintained or uniquely positioned properties.​At the $1,000,000 and above price point, market activity is diverse. While some properties show no activity, represented by grey, others fall under dark green, indicating exceptional demand in select areas. This contrast underscores the importance of location, property condition, and buyer preferences in this price range. Sellers in this segment should consider detailed market analysis to position their homes competitively.​The <a href="https://teamprice.com/austin-real-estate-absorption-rates-market-demand">absorption rate data</a> also highlights the importance of color-coded demand levels in understanding market conditions. Dark green represents extremely high demand, signaling a seller’s market where homes sell rapidly. Light green indicates strong demand, benefiting sellers but still providing room for negotiation. Yellow/orange shows balanced conditions, red reflects opportunities for buyers to negotiate favorable deals, and grey points to stagnant markets with no sales activity. This nuanced view of the Austin real estate market underscores the critical role of data-driven insights in navigating buying and selling decisions. The trends across price points demonstrate that opportunities exist for both buyers and sellers, depending on market conditions and strategic timing. Whether you’re entering the market as a buyer or positioning your property as a seller, understanding absorption rates is key to achieving your goals in Austin’s competitive real estate landscape​

Explore Austin’s real estate market with a detailed analysis of absorption rates by price point. Understand buyer-seller dynamics, market demand, and trends shaping the housing landscape in 2024

Austin Housing Market Breakdown: Insights on Absorption Rates

Is the Austin Market Recovering? Insights into Price Changes and Market Dynamics The Austin real estate market has undergone significant changes in recent years, highlighted by a notable decrease in the median list price for homes. This trend is evident when examining data from May 2022 to December 2024, showcasing a dramatic shift in the market dynamics. In May 2022, the <a href="https://teamprice.com/residential-price">median list price for homes in the Austin</a> area reached a peak of $539,900. This marked a high point in the market, reflecting robust buyer demand and limited inventory that characterized much of 2021 and early 2022. However, by December 2024, the median list price had declined to $425,000, representing a substantial drop of $114,900, or 21.3%, over the 31-month period. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241223122457.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" width="" height="" data-size="," data-align="none" data-percentage="auto,auto" data-index="0" data-file-name="image.png" data-file-size="297154" data-origin="," style=""></figure></div> To better understand this trend, it is important to contextualize it within broader market conditions. The Austin real estate market experienced unprecedented growth during the years of 2020 and 2021, driven by factors such as remote work flexibility, a surge in population migration to Texas, and historically low mortgage rates. These factors contributed to a sharp <a href="https://teamprice.com/residential-price" class="on">increase in home prices</a>, culminating in the 2022 peak. The subsequent decline in median list prices can be attributed to a combination of factors. Rising interest rates beginning in late 2022 played a pivotal role in cooling the market, as higher borrowing costs reduced affordability for many buyers. Additionally, increased inventory levels throughout 2023 and 2024 helped to alleviate the supply-demand imbalance that had previously driven prices upward. This trend is further illustrated by seasonal fluctuations in pricing over the years. For instance, during the first quarter of 2024, the median list price hovered around $459,900 in February and $479,900 in March, before settling at $425,000 by December. These monthly variations highlight the typical ebbs and flows of the market, influenced by factors such as buyer activity and economic conditions. Despite the overall decline, the Austin real estate market remains dynamic. While the drop in prices may be concerning to sellers, it presents potential opportunities for buyers. A 21.3% reduction in the median list price has improved affordability, making homeownership more attainable for those who were previously priced out of the market. The question of whether the Austin market is crashing or recovering depends on perspective. The data suggests that the market has shifted toward stabilization after a period of extraordinary growth. Indicators such as declining prices, improved inventory levels, and fewer multiple-offer scenarios point to a market that is neither collapsing nor overheated, but rather adjusting to more balanced conditions. For those considering entering the Austin real estate market, whether as a buyer or seller, understanding these trends is crucial. Buyers can leverage the current conditions to negotiate better deals, while sellers may need to adjust expectations and pricing strategies to align with the evolving market landscape. In conclusion, the Austin area has seen a significant recalibration in median list prices from their peak in May 2022 to December 2024. This shift reflects broader economic changes and local market adjustments. As the market continues to evolve, staying informed about these trends will be essential for making sound real estate decisions.&nbsp;

Explore how Austin's real estate market has evolved with a 21% drop in median list prices from 2022 to 2024. Understand key factors influencing the market, from interest rates to inventory levels, and what it means for buyers and sellers

Is the Austin Housing Market Crashing or Stabilizing? Key Price Trends Explained

Understanding Austin Area Real Estate: Sellers, Buyers, and Neutral Markets December 22, 2024 : The Austin area real estate market continues to be a dynamic landscape, offering insights into both opportunities and challenges for buyers, sellers, and investors. Recent data underscores the variety of market conditions across the top 30 cities in the Austin area, categorized by the months of inventory available—a critical measure of market balance. Understanding these distinctions is vital for anyone navigating real estate in this vibrant region. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241222112737.png" alt="" width="" height="" style=""></figure></div> In December 2024, the Austin area showcased a spectrum of market types, from sellers' markets to buyers' markets, defined by months of inventory. A sellers' market, characterized by less than 4.9 months of inventory, signals high demand and limited supply. Austin, for example, reported 4.1 months of inventory, aligning with its reputation as a competitive market. Median prices in Austin stood at $599,000, with an average active listing price of $984,704, underscoring the city's strong position in the regional market. In contrast, buyers’ markets, with more than 7 months of inventory, were observed in cities such as Burnet and Dale. Burnet, with 9.42 months of inventory, had a median price of $529,500, reflecting more negotiating power for buyers. Similarly, Dale exhibited 11 months of inventory, further emphasizing its status as a buyers’ market. These conditions highlight opportunities for buyers looking to secure properties at potentially favorable terms in less competitive markets. Neutral markets, where inventory ranges from 5 to 6.9 months, were represented by cities such as Bastrop and Driftwood. Bastrop, with 5.8 months of inventory, had a median price of $424,900. Driftwood, known for its luxury appeal, showcased a median price of $1,257,500 and exactly 6 months of inventory, indicating a balanced environment between buyers and sellers. Georgetown and Cedar Park are other notable examples of sellers’ markets. Georgetown reported 3.28 months of inventory, a median price of $509,545, and a significant volume of active listings, illustrating its steady demand. Cedar Park, with just 2.09 months of inventory, reflected one of the strongest sellers' market conditions in the area, with median prices at $499,999.&nbsp;Cities like Hutto and Pflugerville also demonstrated robust sellers’ markets, with 3.25 and 2.86 months of inventory, respectively. Hutto’s median price reached $399,990, while Pflugerville’s stood at $435,000. These cities remain attractive for those seeking homes at relatively moderate price points compared to Austin. On the other hand, cities such as Smithville and Spicewood leaned toward buyers’ markets. Smithville’s inventory was at 7.36 months, with a median price of $341,900. Spicewood, with 10.08 months of inventory and a median price of $862,500, provided opportunities for buyers interested in higher-end properties with more time to negotiate.&nbsp;The data also revealed shifts in pricing dynamics across the region. Cities like Manor and Kyle showed competitive conditions with inventory levels at 3.7 and 3.33 months, respectively, while median prices were $390,103 and $363,945. Price trends across these cities reflect the nuanced nature of the Austin area market, where local factors heavily influence demand and supply. Overall, the Austin area real estate market demonstrates a diverse range of opportunities, with each city offering unique conditions. Whether navigating a competitive sellers’ market or exploring the advantages of a buyers’ market, understanding these dynamics is essential for success in real estate.&nbsp;If you are a real estate agent or thinking of becoming one, please reach out. We are expanding our team and hiring new and experienced agents. No license is required to schedule a meeting with me, Dan Price, Broker. You are welcome to call me directly to discuss opportunities at 512-963-3768.&nbsp;

Latest trends in the Austin area real estate market with data-driven insights from December 2024. Learn about market conditions, median prices, and opportunities for buyers, sellers, and agents across 30 cities

Austin Area Real Estate Market Update: December 2024 Insights

The Austin Real Estate Market: A Detailed Look at the Sold Price to List Price Ratio (2000–2024) The Austin real estate market has undergone significant changes over the years, with the <a href="https://teamprice.com/sold-price-to-list-price-ratio">sold price to list price ratio</a> serving as a critical metric to evaluate market conditions. This ratio reflects how closely the final selling price of a property aligns with its listed price. Analyzing this data from 2000 through 2024 reveals fascinating trends, offering insights into how the market has evolved. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220113951.png" alt="" width="" height="" style=""></figure></div>​In the early 2000s, the <a href="https://teamprice.com/sold-price-to-list-price-ratio">sold price to list price ratio in Austin</a> hovered in the upper 90% range. In 2000, the annual average was 99.2%, with monthly variations ranging from 98.5% to 99.6%. This stability suggested a market leaning towards balanced conditions. Moving into 2001, a slight decline was observed, with an average of 98.6% and a minimum monthly value of 97.4%. The years 2002 and 2003 showed further dips, with averages of 97.7% and 97.2%, respectively, marking a subtle cooling in the market.​From 2004 to 2006, the market began to stabilize, with ratios climbing back to averages of 97.3% to 98.1%. The upward trend indicated a modest recovery, likely fueled by growing demand and favorable economic conditions. However, the financial crisis of 2008 caused notable shifts. That year, the sold price to list price ratio dropped to a low of 95.5%, with an annual average of just 96.7%. The subsequent years, 2009 and 2010, saw minimal improvements, with averages of 96.7% and 96.5%, respectively, underscoring the market’s slow recovery.​A significant turning point emerged in the mid-2010s as Austin’s real estate market began gaining momentum. By 2013, the average ratio climbed to 98.2%, with highs reaching 98.8% during peak months. This growth continued through 2015, when the annual average hit 98.4%, supported by strong local demand and economic growth in the region.&nbsp;The most dramatic changes occurred between 2020 and 2022. In 2020, the sold price to list price ratio surpassed 100% for the first time, with a maximum monthly ratio of 100.4%. This trend accelerated in 2021, when the ratio soared to an unprecedented high of 109.5% in April, reflecting intense competition among buyers. This surge was driven by historically low mortgage rates, limited inventory, and a surge in buyer demand.​By 2022, the market began to cool as interest rates increased and affordability became a concern for many buyers. The annual average ratio dropped to 100.9%, with monthly lows reaching 96.1% by December. This cooling trend has persisted into 2023 and 2024. In 2023, the average ratio settled at 97.3%, with monthly variations ranging from 96.3% to 97.8%. The data for 2024, up to October, indicates continued stability, with an average of 97.3% and a peak of 98.0% in the spring months. Overall, the sold price to list price ratio provides a detailed lens through which the Austin market’s dynamics can be understood. Periods of economic stability, growth, and contraction are all reflected in this data. For buyers and sellers navigating the current market, understanding these trends can help set realistic expectations and guide strategic decisions. While recent years have shown a return to more balanced conditions, the data underscores the importance of staying informed in a market as dynamic as Austin’s.&nbsp;

Explore the 24-year trends in Austin’s sold price to list price ratio, revealing key insights into the local real estate market. Discover how market dynamics have evolved from 2000 to 2024, including shifts during economic highs and lows

Are Austin Sellers Getting Their Asking Price? A 24-Year Analysis

Analyzing Year-Over-Year Changes in Active Real Estate Listings for 2024 In 2024, the real estate market in the Austin area has shown significant fluctuations in the <a href="https://teamprice.com/active-residential-listings">number of active listings</a> compared to the previous year. This data-driven analysis provides a detailed look at the percentage changes in <a href="https://teamprice.com/active-residential-listings">active listings year over year</a> (YoY) for each day from March through December. These insights can help buyers, sellers, and agents understand market activity trends and make informed decisions. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220111626.png" alt="" width="" height="" style=""></figure></div> In early March 2024, active listings were up by approximately 13% compared to the same period in 2023. For instance, on March 4th, the year-over-year percentage increase stood at 13.07%. The trend gradually rose to 14.41% by March 6th, and by March 15th, it reached 16.31%. The end of March saw even higher increases, peaking at 18.76% on March 28th. This indicates a steady rise in available homes for sale during the first quarter. April continued the upward trend with notable growth. On April 5th, active listings increased by 21.01% YoY. By mid-April, the market saw jumps of over 25%, reaching 27.97% on April 19th. Toward the end of the month, on April 26th, active listings saw a substantial 31.44% increase compared to 2023. These figures suggest that more sellers were putting their homes on the market as the spring season progressed, a common pattern in real estate markets. May 2024 recorded some of the highest year-over-year changes. On May 3rd, active listings were up by 32.55%, and by May 10th, they surged to 33.90%. These numbers reflect increased seller confidence and possibly slower buyer demand, leading to higher inventory levels. By the end of May, the percentage change remained strong, with a 31.90% increase on May 31st. June showed a slight decline compared to May, but active listings remained well above 2023 levels. The highest YoY change in June was 30.69% on June 14th. By June 28th, the percentage change was 30.54%. These consistent increases suggest that the market was holding steady with more properties available compared to the previous year. July maintained a similar pattern, with year-over-year changes hovering between 28% and 32%. On July 4th, active listings increased by 32.37%. However, by the end of the month, the percentage change dipped slightly to 28.93% on July 29th. This indicates a possible seasonal slowdown in listings toward the end of summer. In August, the YoY increase in active listings began to decline. On August 2nd, the market saw a 27.10% increase, and by August 19th, it fell to 25.18%. The downward trend continued into September, with percentage changes dropping below 20% by the end of the month. For example, on September 30th, active listings were up only by 20.29% compared to the previous year. These declines may reflect seasonal trends or a shift in market dynamics, with fewer new listings coming on the market. October saw continued declines, with active listings showing a 17.06% YoY increase on October 7th. By October 31st, the increase was down to 15.84%. The trend of declining YoY percentage changes persisted through November and December. On December 2nd, active listings showed an 11.78% increase compared to 2023, reflecting a significant slowdown in new listings as the year closed. This detailed data on year-over-year changes in active listings highlights how the real estate market in 2024 has been more favorable for buyers, with higher inventory levels throughout much of the year. Understanding these trends helps buyers, sellers, and agents navigate the market and make informed decisions based on current conditions.&nbsp;

Discover how Austin's real estate market performed in 2024 with a detailed analysis of year-over-year percentage changes in active listings. Track daily trends from March to December and gain valuable insights for buyers, sellers, and agents

Austin Real Estate Trends 2024: Year-Over-Year Active Listings Analysis

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

Leasing Market Trends: A Detailed Analysis of Seasonal Shifts and Price Changes The leasing market over the past two years has shown significant changes in activity levels and rental prices, highlighting clear seasonal trends and shifts influenced by broader economic factors. By examining the <a href="https://teamprice.com/market-cycle-lease">Austin Lease Market Cycle</a> data from December 2022 to December 2024, patterns emerge that help understand how leasing demand and prices fluctuate throughout the year. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220114616.png" alt="" width="" height="" style=""></figure></div> In December 2022, the number of leased properties stood at 1,692, with an average leased price of $2,413 and a median leased price of $2,200. Leasing activity saw a steady rise into January 2023, with 1,885 properties leased, representing an 11.4% increase from the previous month. During this period, average leased prices increased to $2,472, showing a $59 rise. The median leased price remained stable at $2,200. This upward trend continued in February 2023, despite a slight dip in leasing activity to 1,845 properties, a 2.1% month-over-month decrease. March 2023 saw a substantial jump in leasing activity, reaching 2,156 properties leased, a 16.9% increase compared to February. Prices remained relatively flat, with the average leased price at $2,460 and the median price holding at $2,250. The market maintained strong demand into April 2023, with 2,275 properties leased and average prices increasing to $2,510. This growth persisted into May and June 2023, where leasing numbers peaked at 3,165 in June, marking a 16.9% month-over-month increase. Average leased prices during June reached $2,547, the highest in the first half of 2023. The summer months continued to see strong leasing demand, with July 2023 recording 3,201 leased properties. However, prices began to decline slightly, with the average leased price falling to $2,520. August 2023 marked the beginning of a downward trend in leasing activity, with a 9.3% drop, bringing the total to 2,904 properties. Average prices also fell to $2,476. This decline continued into September 2023, with leasing activity dropping to 2,419 properties, a significant 16.7% decrease from August. Prices dipped to $2,442, while the median price fell to $2,200. The market saw further reductions in October and November 2023, with leased properties totaling 2,210 and 2,025, respectively. By December 2023, leasing activity reached a low point of 1,896 properties, reflecting a 6.4% decrease from the previous month. The average leased price stood at $2,379, a slight recovery of $15 from November, while the median leased price dropped to $2,150. In January 2024, the market stabilized with 1,900 properties leased, showing a minimal 0.2% increase from December. Average prices held steady at $2,379, while the median price rose slightly to $2,195. February 2024 saw leasing activity jump to 2,173 properties, a 14.4% increase, reflecting the seasonal trend of higher demand early in the year. Prices also rose to an average of $2,427, although the median price declined to $2,195. Leasing demand remained strong in March and April 2024, with 2,315 and 2,490 properties leased, respectively. The average leased price in April increased to $2,478, consistent with seasonal growth patterns. May 2024 continued this trend, with 2,750 properties leased and average prices climbing to $2,520. June 2024 mirrored the previous year’s peak, with 3,053 properties leased and an average price of $2,509. However, the market began to show signs of slowing down in the second half of 2024. By July 2024, leasing activity increased only slightly to 3,244 properties, while the average leased price fell to $2,469. August 2024 saw a drop in leasing to 3,076 properties, a 5.2% decline, and average prices dipped to $2,364. This trend continued through September 2024, with leasing activity falling sharply to 2,437 properties, a 20.8% decrease. Prices also dropped to $2,296. The final months of 2024 reflected a continued slowdown in leasing demand. October 2024 recorded 2,327 leased properties, a modest improvement from September, but average prices remained low at $2,311. By November, leasing numbers fell to 2,103, with prices averaging $2,304. December 2024 closed the year with 1,990 properties leased and an average leased price of $2,335. These data points illustrate the clear seasonal patterns in leasing demand, with peaks occurring in the summer months and dips during the winter. Average and median leased prices followed these trends closely, reflecting the balance between supply and demand. While prices remained relatively stable, the slight declines towards the end of 2024 suggest a market adjusting to broader economic conditions or increased rental supply. Understanding these trends helps both renters and property owners make informed decisions based on the time of year and current market conditions​

Detailed leasing market trends from 2022 to 2024. Understand how seasonal changes impact rental prices and demand, with insights backed by data to help renters and property owners make informed decisions

Austin Leasing Market Trends: Detailed 2022-2024 Analysis of Prices and Demand

Analyzing the <a href="https://teamprice.com/price-to-rent-ratio">Price-to-Rent Ratios in Austin</a>: What the Data Reveals About Buying vs. Renting The Austin real estate market offers a wide variety of opportunities for both buyers and renters. Understanding the price-to-rent ratio for different areas is crucial for making informed housing decisions. The <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratio</a> is a calculation used to determine whether it's better to buy or rent in a specific area. This ratio is obtained by dividing the median home sale price by the annual rent. A lower ratio (below 15) indicates it’s better to buy than rent, while a higher ratio (above 20) suggests renting is more cost-effective. Ratios between 15 and 20 indicate a balanced market where the decision to buy or rent depends on individual preferences and financial goals. Let's explore how Austin's neighborhoods compare based on this data. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220114207.png" alt="" width="" height="" style=""></figure></div> In downtown Austin’s 78701 zip code, the median rent is $3,150 per month, and the median sale price is $697,000, giving a price-to-rent ratio of 18.4. This places it in a balanced market, suggesting that either buying or renting could be viable depending on your long-term plans. Moving east to 78702, the median rent is $2,635, and the median sale price is $722,500, resulting in a price-to-rent ratio of 22.8. Here, renting is more cost-effective than buying. The trend continues in 78703, where the median rent is $3,200 and the median home price is significantly higher at $1,649,500, leading to a ratio of 43. This data clearly shows that renting in this area is more financially advantageous. In contrast, some areas present better opportunities for buying. For instance, the 78725 zip code has a median rent of $1,950 and a median sale price of $315,500, resulting in a low price-to-rent ratio of 13.5. Similarly, 78724 shows a ratio of 14.7 with a median rent of $1,995 and a median sale price of $352,470. These areas suggest it’s more cost-effective to buy than rent. The same trend is seen in 78610 (Buda) with a ratio of 14.8 and 76537 (Jarrell) with a ratio of 14.5. Several neighborhoods fall within the balanced market category. In 78717 (Austin), the median rent is $2,500, and the median sale price is $487,500, leading to a ratio of 16.3. Nearby, 78747 shows a similar trend with a ratio of 16.2, based on a median rent of $2,350 and a sale price of $457,490. In Pflugerville’s 78660, the ratio is 16.7, where the median rent is $2,150 and the median sale price is $430,510. These figures suggest that whether to buy or rent in these areas depends largely on personal and financial goals. Higher-end areas such as 78746 and 78733 have much higher <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratios</a>. In 78746, the median rent is $4,900, while the median sale price is $2,220,000, resulting in a ratio of 37.8. Similarly, 78733 has a median rent of $3,600 and a median sale price of $1,667,500, with a ratio of 38.6. These high ratios indicate that renting is the more cost-effective option in these upscale neighborhoods. The price-to-rent ratios also vary widely in the surrounding suburbs. In Cedar Park’s 78613, the median rent is $2,200, and the median sale price is $499,945, resulting in a ratio of 18.9. This falls into the balanced market range. On the other hand, areas like 78634 (Hutto) offer more favorable conditions for buying, with a ratio of 15.9, where the median rent is $2,090 and the median sale price is $398,941. Georgetown’s 78626 offers a ratio of 17.1, with a median rent of $2,050 and a sale price of $420,000, also placing it in the balanced category. In summary, Austin’s price-to-rent ratios vary significantly by neighborhood. Areas like 78725 and 76537 are more favorable for buying, while high-priced areas like 78703 and 78746 lean heavily toward renting. The balanced market areas, such as 78717 and 78660, offer flexibility depending on individual needs. Understanding these ratios helps both buyers and renters make well-informed decisions in Austin's dynamic housing market​

Latest price-to-rent ratios in Austin areas to determine whether it’s better to buy or rent. This detailed analysis provides insights into Austin’s dynamic real estate market using data-driven comparisons

Austin Price-to-Rent Ratio: Where It’s Better to Buy or Rent in 2024

The Rising Cost of Homeownership in Austin: Analyzing Housing Affordability Trends (2000-2024) December 19, 2024 : <a href="https://teamprice.com/affordability">Austin housing affordability</a> has changed dramatically over the past two decades, with mortgage payments rising significantly in recent years. This trend has made homeownership more expensive for many buyers in the Austin area, especially when compared to historical norms. The data from 2000 to 2024 reveals key patterns in monthly mortgage payments, interest rates, and affordability ratios, offering insights into why Austin homeownership is becoming increasingly challenging. In 2000, the average monthly mortgage payment in the Austin area, including principal, interest, taxes, and insurance (PITI), was around $1,195. From 2000 to 2006, PITI steadily increased, reaching an average of $1,285 by 2006. This period saw relatively stable interest rates, with the median rate hovering between 2.76% and 3.38%. However, the housing market crash of 2008 temporarily reduced these payments. In 2009, the average monthly PITI dropped to $1,246, reflecting lower home prices and interest rates in Austin.&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/20241219032647.png" alt="" width="" height="" style=""></figure></div> The years following the crash saw mortgage payments fluctuate. From 2010 to 2015, monthly PITI in Austin ranged from $1,236 to $1,627, showing moderate growth. Interest rates during this period remained low, between 3.37% and 4.03%. By 2016, PITI reached $1,706, reflecting an upward trend in Austin home prices. This pattern continued, and by 2019, the average PITI in the Austin area was $1,954. Despite slight declines in 2020 due to lower interest rates, mortgage payments began to rise sharply in 2021. In 2021, monthly PITI surged to an average of $2,686, with some months exceeding $2,700. This increase coincided with rising Austin home prices and interest rates nearing 5%. In 2022, affordability hit a new low, with monthly mortgage payments peaking at $3,742 in June. The average PITI for the year was $3,476, driven by soaring Austin-area home prices and mortgage rates that exceeded 5.5%. Affordability ratios also reflected this shift. In 2022, PITI accounted for 47.19% of median household income, a sharp increase from the 26-30% observed in the early 2000s. The trend continued into 2023 and 2024, with monthly PITI in Austin remaining high. In 2023, the average mortgage payment was $3,443, and in 2024, it hovered around $3,381. Interest rates stayed elevated, with the median rate around 4.54% in December 2024. Although these figures represent a slight improvement from the 2022 peak, they still indicate significant affordability challenges compared to historical levels in Austin. Over the past 24 years, the median sold price-to-income ratio in Austin has also increased. In 2000, the ratio was 2.76, meaning a home’s median price was 2.76 times the median household income. By April 2022, this ratio peaked at 5.75, highlighting the growing gap between Austin home prices and incomes. As of December 2024, the ratio stands at 4.54, above the historical average of 3.74. This indicates that despite recent improvements, Austin home prices remain disproportionately high compared to household incomes. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241219032728.png" alt="" width="" height="" style=""></figure></div> Year-over-year changes in PITI show how volatile the Austin housing market has become. Between 2021 and 2022, monthly mortgage payments increased by over $800. In contrast, the period from 2009 to 2010 saw minimal changes, reflecting the stability after the housing crash. These fluctuations are largely driven by changes in interest rates and Austin home prices. For example, in 2021, interest rates climbed from 4.33% in January to 5.40% by June, contributing to the sharp rise in PITI. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241219032811.png" alt="" width="" height="" style=""></figure></div> <a href="https://teamprice.com/affordability">Affordability in Austin</a> has been especially strained since 2021. Before this period, the PITI-to-income ratio rarely exceeded 30%. In recent years, it has consistently remained above 40%, indicating that buyers are dedicating a larger portion of their income to housing costs. This trend is unsustainable for many households and reflects the need for either higher incomes, lower home prices, or reduced interest rates to improve affordability in Austin. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241219032840.png" alt="" width="" height="" style=""></figure></div> In summary, <a href="https://teamprice.com/affordability">housing affordability in Austin</a> has worsened significantly since 2000. Monthly mortgage payments have more than doubled, and affordability ratios have reached record highs. While homeownership in the Austin area was once manageable for most households, the current market poses challenges that many buyers struggle to overcome. Understanding these trends helps both buyers and industry professionals navigate the evolving Austin housing market and make informed decisions. This article was written on December 19 2024 and reflects data up to that date. The following charts will provide up to date information. If you have any questions, please let us know.&nbsp;

Austin-area housing affordability has changed from 2000 to 2024. Learn about rising mortgage payments, interest rates, and affordability ratios, and understand why homeownership costs have doubled over the past 24 years in the Austin real estate market

Austin Real Estate Affordability: How Homeownership Costs Have Doubled Since 2000

Austin Area Short Sale Real Estate Analysis: Trends, Data, and Insights <a href="https://teamprice.com/short-sale">Short sale properties in the Austin area</a> offer unique opportunities for buyers and sellers navigating today’s real estate market. This analysis provides a detailed look at the current short sale listings in the region, with data on prices, discounts, and trends by city and zip code. Whether you’re considering purchasing a short sale or facing the possibility of selling through a short sale, understanding the market dynamics is crucial. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217124245.png" alt="" width="" height="" style=""></figure></div> As of December 17, 2024, there are 37 <a href="https://teamprice.com/short-sale">active short sale listings in the Austin area</a>. These properties show significant price reductions, presenting potential value for buyers. The average listing price for short sale properties is $425,222, with an average price drop of $38,061, translating to an average discount of -7.3%. Short Sale Trends by City :&nbsp;The highest number of short sale listings can be found in Austin, with 9 active properties averaging a price of $425,222 and an average price drop of $38,061. In Buda, there are 4 listings with an average price of $395,224, and the average discount stands at $42,000, representing an -8.4% reduction. Killeen has 3 properties listed at an average price of $183,632, with price reductions averaging $21,333, or -8.4%. Other notable areas include Kyle, where 3 short sale properties are listed with an average price of $317,896 and an average discount of $33,104 (-7.6%). In Liberty Hill, there are 2 properties with an average price drop of $99,250, representing a substantial -21.6% reduction. Short Sale Insights by Zip Code : Short sale properties are distributed across several key zip codes, each reflecting varying levels of discount. In zip code 78642 (Liberty Hill), the average price drop is the highest at -21.6%, with properties discounted by $99,250 on average. Zip code 76549 (Killeen) shows a notable reduction of -12.6%, with an average discount of $32,000. The 78610 zip code (Buda) contains 4 listings with an average price drop of -8.4%. In 78645 (Austin), there are 2 properties averaging a price reduction of $42,500, or -6.2%. These figures highlight the diversity in short sale opportunities across the region. What is a Short Sale?&nbsp;A short sale occurs when a property is sold for less than the amount owed on the mortgage. This process typically happens when a homeowner is experiencing financial distress and needs to sell the property to avoid foreclosure. The lender must agree to accept less than the total owed amount to facilitate the sale. Buying a Short Sale: What to Expect?&nbsp;Buying a short sale can be an attractive option for those looking for potential discounts. However, the process can take longer than a traditional purchase due to the need for lender approval. Buyers must be prepared for a more extended timeline and the possibility that the lender may reject the offer or counter with different terms. Benefits of Buying a Short Sale: <ul><li>Discounted Prices: Short sales often sell below market value, offering buyers a chance to acquire property at a lower cost.</li><li>Less Competition: Unlike foreclosure auctions, short sales may attract fewer competing offers.</li><li>Opportunity for Equity: If the market improves, short sale properties may appreciate, offering potential for future equity.</li></ul> Considering a Short Sale as a Seller?&nbsp;Homeowners facing financial difficulties may consider a short sale to avoid foreclosure. A short sale can have less impact on credit compared to a foreclosure and allows for a more controlled sale process. When to Consider a Short Sale:<ul><li>Financial Hardship: If you can no longer afford your mortgage payments.</li><li>Negative Equity: If your home’s market value is less than the mortgage balance.</li><li>Foreclosure Risk: If foreclosure is imminent, a short sale can be a preferable alternative.</li></ul> Historical Analysis of Short Sale Properties :&nbsp;Looking back, the Austin area experienced a peak in short sales during the aftermath of the 2008 financial crisis. In 2011, there were 489 short sale transactions. This number gradually decreased over the years. By 2015, only 82 short sales were recorded, and by 2020, the number dropped to 3 transactions. In recent years, short sales have remained low, indicating a healthier housing market.&nbsp;In the City of Austin itself, short sales peaked at 143 transactions in 2012. Since then, the numbers have steadily declined, with only a handful recorded in the past few years.&nbsp;This historical context shows how market conditions and economic factors influence short sale activity. Current listings reflect a more stable market, though pockets of financial distress still create opportunities for buyers and options for sellers.&nbsp; <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217124119.png" alt="" width="" height="" style=""></figure></div>

How Short Sales Are Shaping the Austin Real Estate Market : detailed data on short sale properties in Austin, including current prices, discounts, and historical trends. Learn what short sales are, their benefits for buyers, and options for sellers. Stay informed with the latest short sale market analysis

Austin Short Sale Listings: 2024 Market Trends and Analysis

<a href="https://teamprice.com/appreciation-year-over-year-city">Austin Area Housing Market: Year-Over-Year Appreciation Analysis</a> December 17 2024 : The Austin area real estate market has experienced significant growth over the past two decades, with some cities standing out for their long-term appreciation rates and others facing recent price corrections. Data from 2000 to 2024 reveals clear trends in average and median sold prices across cities such as Austin, Leander, Wimberley, Burnet, and many others. This detailed analysis highlights which markets have delivered the strongest growth and identifies emerging opportunities as well as cities where prices have cooled in the past year. In Austin, the average sold price grew from $218,205 in 2000 to $751,478 in 2024, representing a total increase of 244 percent over 24 years. The median sold price followed a similar upward trend, rising from $159,900 to $572,955. This steady appreciation translates to a compound annual growth rate of approximately 5.3 percent for average sold prices and 5.5 percent for median sold prices. Austin remains a stable market with modest year-over-year growth of 0.7 percent for average prices and 0.2 percent for median prices in the most recent year. Leander emerged as one of the top performers in the Austin area housing market. The average sold price skyrocketed from $129,266 in 2000 to $571,688 in 2024, an impressive 342 percent increase over the period. Leander’s median sold price saw even stronger growth, rising from $109,633 to $485,600. Both appreciation rates reflect a compound annual growth of 6.4 percent, placing Leander near the top of Austin area cities for long-term price increases. Over the past year, Leander’s average prices grew by 3.1 percent, signaling consistent demand and robust market activity. Wimberley also stood out for its remarkable appreciation. Between 2000 and 2024, the average sold price increased by 348 percent, climbing from $156,972 to $702,450. Median prices followed closely, rising from $140,000 to $521,400. These numbers represent a compound annual growth rate of 6.4 percent for average prices and 5.6 percent for median prices. Recent performance has been equally strong, with average sold prices rising by 12.7 percent year-over-year. Wimberley’s combination of long-term appreciation and strong recent growth reflects its appeal among buyers looking for value and growth potential. Burnet has also delivered exceptional long-term results for homeowners and investors. The average sold price grew from $135,819 in 2000 to $549,005 in 2024, marking a 304 percent increase over the period. Median prices similarly increased from $107,500 to $408,383, representing a compound annual growth rate of 5.7 percent. Most notably, Burnet’s median sold prices grew by 23.8 percent over the past year, positioning it as one of the fastest-growing markets in the Austin area. While many cities have shown consistent appreciation, others have experienced short-term corrections. For example, Buda saw its average sold price drop by 9.6 percent from 2023 to 2024, moving from $448,600 to $405,406. Similarly, its median sold price fell by 9.8 percent year-over-year. Cedar Creek also recorded a decline, with average prices decreasing by 6.5 percent and median prices by 10.5 percent. Lakeway, a historically strong market, saw average sold prices drop by 5.6 percent and median prices decline by 8.4 percent over the same period. These corrections reflect changing market conditions, likely influenced by affordability challenges and shifts in demand. Manchaca delivered the strongest year-over-year performance among Austin area cities. Average sold prices jumped by 24.6 percent, while median sold prices increased by 4.9 percent. Smithville followed closely with a 15.1 percent year-over-year increase in average sold prices and an 11.1 percent increase in median prices. Both markets are experiencing renewed demand, driven by affordability relative to larger cities and attractive growth potential. Cities such as Taylor and Del Valle continue to show solid growth despite a slower pace. Taylor’s average sold price grew by 1.8 percent year-over-year, while Del Valle saw a 2.7 percent increase. These numbers suggest steady market activity in smaller cities that remain attractive for buyers seeking affordable housing options. Overall, the Austin area real estate market shows a mix of consistent long-term appreciation and localized market adjustments. Cities like Austin, Leander, and Wimberley continue to offer strong long-term returns, while markets like Burnet and Manchaca are experiencing notable short-term gains. On the other hand, cities such as Buda, Cedar Creek, and Lakeway reflect areas where prices have softened, presenting potential opportunities for buyers looking for value in a correcting market. The combination of historical appreciation data and recent trends provides valuable insights for homebuyers, sellers, and investors looking to navigate the dynamic Austin area housing market.&nbsp; <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217121950.png" alt="" width="" height="" style=""></figure></div>

Explore the Austin area housing market trends, including 24 years of appreciation data. Discover where real estate prices are rising, which cities are cooling, and what to expect for 2025

Austin Area Real Estate Market: Year-Over-Year Appreciation Trends for 2024

Austin Rental Market Shows Softening Prices and Leasing Activity in 2024 The Austin rental market is experiencing notable shifts as leasing activity and <a href="https://teamprice.com/market-cycle-lease">rent prices decline year-over-year</a>, reflecting changing dynamics in supply, demand, and affordability. Data for the year 2024 highlights key trends that renters, landlords, and market analysts need to consider as they assess the current state of the market.​In December 2024, the total number of leased residential properties dropped to 1,914, marking an 8.2% decrease compared to November when 2,084 properties were leased. This continued decline caps off a year-long trend of softening rental demand, particularly noticeable in the final months. By contrast, leasing activity peaked earlier in the year, reaching 3,244 properties in July 2024, before steadily declining through the fall. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217120435.png" alt="" width="" height="" style=""></figure></div>​Average rental prices also reflect this downward trend. In December 2024, the average leased price stood at $2,330, a 1.1% increase from November's $2,305 but still a 2.1% decrease year-over-year compared to December 2023's average of $2,379. The median leased price in December fell slightly to $2,100, holding steady month-over-month but representing a 2.3% decline year-over-year. Throughout 2024, median prices fluctuated but ultimately trended downward, with the year starting at $2,195 in January before seeing modest peaks and steady drops into the winter months.​The most significant declines occurred in the late summer and early fall. For instance, in September 2024, the average leased price dropped to $2,296, a 2.9% month-over-month decrease and a 6.0% year-over-year drop from September 2023’s $2,442. Leasing volume in September also saw a sharp drop to 2,437 properties, a 20.8% decline compared to August’s 3,076 properties. These numbers reflect a critical shift in tenant demand, possibly due to rising rental inventory and ongoing affordability challenges.​Historically, the Austin rental market sees peak activity during the summer months, with rents stabilizing or softening as fall and winter approach. This pattern held true in 2024, with average rent prices peaking at $2,520 in May and June 2024, before steadily declining to the December low of $2,330. Leasing volume followed a similar trajectory, with summer months like June seeing 3,053 leases, an 11.0% increase month-over-month, while the final quarter saw consistent declines. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217120422.png" alt="" width="" height="" style=""></figure></div>​The leased-to-list price ratio remained strong throughout the year, hovering around 99.7% to 99.9%, indicating that landlords have largely maintained their list prices. For instance, in December 2024, the ratio stood at 99.55%, reflecting landlords' reluctance to significantly discount rents despite reduced leasing activity. However, the steady decline in median and average rents suggests that landlords are making smaller adjustments to meet renter affordability concerns.​Several factors have contributed to the cooling rental market. The increased availability of rental units has led to greater competition among landlords, putting downward pressure on prices. Additionally, economic uncertainties and improved affordability in the home purchase market have influenced some renters to explore alternatives, further reducing demand. Rising living costs may have also driven renters to negotiate lower lease prices or delay moving into new properties altogether.​As the year comes to a close, the Austin rental market remains in a state of adjustment. Average and median lease prices have fallen compared to the previous year, and leasing activity has slowed significantly, particularly in the second half of 2024. Renters may find this environment increasingly favorable, with opportunities for negotiation and greater flexibility. Landlords, on the other hand, face the challenge of staying competitive while adapting to evolving market conditions. Looking ahead to 2025, the Austin rental market will likely continue to balance supply and demand. For landlords and investors, monitoring pricing trends and adjusting expectations will be essential to remain competitive. For renters, the ongoing market correction could provide continued opportunities for affordability and flexibility​

Austin Rent Prices : latest trends in Austin’s rental market for 2024. Rent prices fell 2.1% year-over-year, and leasing activity dropped significantly in December. Read our detailed analysis to understand what’s driving these changes in Austin rent prices

Austin Rent Prices Drop 2.1% in December 2024: Latest Leasing Trends and Analysis

Austin Home Prices Surge in December 2024: Highest Monthly Increase Since February 2022 December 16 2024 : The Austin real estate market showed a remarkable surge in December 2024, posting the highest month-over-month price increase since February 2022. After a year of fluctuating trends, this strong finish signaled a significant boost in home values and overall market activity. Both the average and median home prices saw double-digit increases, marking a noteworthy shift in 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/20241216011314.png" alt="" width="" height="" style=""></figure></div>​ In December 2024, the total number of homes sold reached 2,346. This was a 5.5% increase from the previous month’s total of 2,223 homes sold in November 2024. Compared to December 2023, when 2,324 homes were sold, this represented a modest 1.0% year-over-year increase. The upward trend in home sales suggested growing buyer confidence as the year came to a close. The average sold price for December 2024 was $616,500. This was a significant $59,108 jump from November 2024’s average of $557,392. This 10.6% month-over-month increase marked the highest spike in home prices since early 2022. Year-over-year, the average sold price was up by $65,694, representing an 11.9% increase from December 2023’s average of $550,806. These figures highlight a clear upward trend in property values in the Austin area. The median sold price also saw substantial growth, reaching $480,000 in December 2024. This was an $47,500 increase from the previous month’s median of $432,500, representing an 11.0% month-over-month gain. Compared to December 2023’s median price of $440,415, this reflected a 9.0% year-over-year increase. The rise in both average and median prices indicated strong demand across various price points in the market. In addition to rising prices, the sold-to-list price ratio for December 2024 remained consistent at 97.01%. This figure showed that, despite the increase in home values, buyers were still purchasing homes at prices very close to the original list prices. The slight dip from November 2024’s ratio of 97.14% suggested that while prices were climbing, sellers were maintaining realistic expectations. The December 2024 data underscored a strong finish to the year for the Austin real estate market. The combination of increased sales volume and rising prices suggested a renewed energy in the housing market. This surge could be attributed to a variety of factors, such as improved interest rates, seasonal buying patterns, and overall market confidence. With December 2024 marking the highest month-over-month increase since February 2022, it sets the stage for an interesting year ahead in Austin’s real estate market. As we head into 2025, buyers and sellers alike will be watching these trends closely. The data for December 2024 paints a picture of a market where demand is strong, prices are rising, and opportunities abound for those looking to buy or sell homes in the Austin area. Keep in mind that these prices are from December 01 2024 to December 16 2024; prices will change as properties sell between today (December 16 2024) and the end of the month. Stay tunned for updated sold data and visit our <a href="https://teamprice.com/market-cycle">Market Cycle</a> page which is updated daily (Monday through Friday).&nbsp;

Austin’s real estate market surged in December 2024 with the highest month-over-month price increase since February 2022. Average and median home prices jumped over 10%, reflecting strong buyer demand and market growth

Austin Home Prices See Highest Increase Since 2022 in December 2024

Year-Over-Year Real Estate Analysis: December 2024 Shows Growth in Austin MLS and City of Austin December 16, 2024 : The Austin-area housing market continues to show significant growth as we close out 2024. A year-over-year comparison for December 2024 reveals increases across various metrics for both the broader Austin MLS region and the City of Austin itself. Key indicators such as the number of active listings, months of inventory, and property prices highlight notable shifts in the market when compared to the same period in 2023. These trends suggest a market that remains dynamic, with both buyers and sellers adjusting to changing 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/20241216125200.png" alt="" width="" height="" style=""></figure></div> For the Austin MLS region, the total number of active listings increased from 11,009 in December 2023 to 12,665 in December 2024. This represents an increase of 1,656 listings, or 15.04%. The months of inventory also rose from 3.81 to 4.39, marking a 15.10% increase. This suggests a slight cooling in market demand, with more homes available for purchase. However, prices have continued to climb. The average active listing price increased by $21,141, moving from $556,348 in 2023 to $577,489 in 2024, reflecting a 3.80% rise. The median active price saw a similar trend, increasing by $16,785 to reach $446,785, a 3.90% jump.​The sold prices within the Austin MLS region also saw upward movement. The average sold price rose from $534,962 in December 2023 to $557,108 in December 2024, an increase of $22,146 or 4.14%. The median sold price increased from $419,995 to $435,000, which is a $15,005 rise or 3.57%. These increases indicate that while more properties are on the market, buyers are still willing to pay higher prices for homes, signaling sustained demand despite the increase in inventory.​Zooming in on the City of Austin specifically, the data reflects similar trends but with some variations. The total active listings grew from 3,001 in December 2023 to 3,430 in December 2024. This increase of 429 listings represents a 14.30% rise. Months of inventory increased from 3.52 to 4.07, showing a 15.82% growth. This indicates that homes are staying on the market longer than they did a year ago, providing buyers with more options.​Property prices within the City of Austin also reflect upward trends. The average active listing price climbed by $27,077, from $773,468 in 2023 to $800,545 in 2024, marking a 3.50% increase. The median active listing price increased by $19,000, reaching $599,000 in 2024, a 3.28% increase compared to the previous year. Sold prices have similarly risen, with the average sold price moving from $742,839 to $771,340, a $28,501 increase or 3.84%. The median sold price went up by $15,000, from $565,000 to $580,000, representing a 2.65% increase.​The data highlights that while there is more inventory in the market, prices are not decreasing. Both the broader Austin MLS region and the City of Austin show consistent appreciation in home values. This suggests that demand remains strong enough to support higher prices, even with a growing number of active listings and longer inventory periods. Buyers looking for homes in the Austin market are encountering more options but are still seeing price points that reflect the region's ongoing appeal. This year-over-year analysis provides valuable insights into the Austin housing market's current state and future direction. Buyers, sellers, and real estate professionals can use this data to understand how the market is evolving and make informed decisions moving forward. As we head into 2025, these trends will be key to watching how the market adjusts to new dynamics in supply and demand.&nbsp;

Discover how Austin's real estate market evolved in December 2024 compared to 2023. Explore data on active listings, months of inventory, and price trends in the Austin MLS region and the City of Austin

Austin Real Estate Market Analysis: December 2024 Year-Over-Year Trends

December 2024 Real Estate Insights: Activity Index at Six-Month High December 03, 2024 : The Austin-area real estate market shows signs of strengthening as of December 3, 2024, with key indicators reflecting improved conditions for both buyers and sellers. Two essential metrics—<a href="https://teamprice.com/real-estate-glossary/activity-index">Activity Index</a> and <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory</a>—highlight the current state of the market and provide a detailed look at recent trends in Austin real estate. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241203012342.png" alt="" width="" height="" style=""></figure></div> As of December 3, 2024, the Activity Index for the Austin area stands at 23.1%, marking its highest level since July 3, 2024, when it reached 23.3%. This index measures market demand by comparing the number of pending properties to the total active and pending listings. A higher Activity Index indicates increased buyer engagement, a key factor driving the current momentum in Austin area real estate. The recent rise in the Activity Index represents a significant recovery, especially when compared to its low point of 21.3% in mid-August 2024. Another critical indicator, the Months of Inventory for the <a href="https://teamprice.com/">Austin real estate market</a>, is now at 4.48 months. This is the lowest level since April 25, 2024, when it stood at 4.4 months. Months of Inventory measures the time it would take for all current listings to sell if no new properties were added to the market. A decrease in this metric suggests tighter inventory, with homes selling faster due to higher buyer demand. This decline is welcome news for sellers, as it points to a more competitive market that may lead to stronger offers. The <a href="https://teamprice.com/">Austin real estate market</a> has experienced a dynamic year, with fluctuations in both the Activity Index and Months of Inventory. During the summer months, the market softened, with the Activity Index dropping and inventory levels peaking at 5.48 months in mid-July 2024. However, the latter half of the year has seen a reversal of these trends. The Activity Index began to rise steadily, and inventory levels started to decline, reflecting a renewed balance between supply and demand in the Austin area real estate market. These positive shifts underscore the resilience of Austin real estate. Buyers are returning to the market with confidence, and sellers are benefiting from improved conditions. The current trends also align with seasonal patterns, as the fourth quarter traditionally brings heightened activity in preparation for the new year. For those navigating the Austin real estate market, these insights are invaluable. The improving Activity Index and tightening inventory suggest that buyers should act quickly to secure favorable deals, while sellers can leverage the competitive conditions to maximize value. Looking ahead, the Austin real estate market's trajectory will depend on broader factors such as interest rates, local economic conditions, and housing affordability, but the current data signals a strong finish to 2024​

December 03 2024 : Explore the latest Austin-area real estate trends for December 2024, including the highest Activity Index since July and the lowest Months of Inventory since April. Learn what this means for buyers and sellers in Austin real estate

Austin Real Estate Market Trends: December 2024 Insights on Activity Index and Inventory

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

Understanding the Price-to-Rent Ratio in Austin: Insights Across 75 Zip Codes The Austin housing market is as dynamic as its growing population, and one key metric stands out for those evaluating whether to buy or rent: the <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratio</a>. This metric is calculated by dividing the median home price in an area by the annual cost of renting a comparable property. Understanding this ratio helps individuals make informed decisions, whether they are first-time buyers, seasoned investors, or long-term renters. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241126020605.png" alt="" width="" height="" style=""></figure></div> In Austin, the <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratio</a> varies significantly across its 75 zip codes. Areas with a ratio below 15 typically favor buying, as purchasing a home is more cost-effective than renting. For instance, in zip codes like 78724 and 78725, the ratio stands at 12.5. These neighborhoods represent some of the most affordable buying opportunities in the region. Similarly, other zip codes, including 78741 at 13.2 and 78753 at 13.5, offer attractive markets for prospective buyers seeking affordable homeownership options. For those exploring neighborhoods with a balanced market, the <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratio</a> ranges from 15 to 20. In these areas, the decision to rent or buy depends on individual circumstances. Notable examples include zip code 78717 with a ratio of 18.8 and 78727 with a ratio of 18.9. These zip codes offer flexibility, allowing potential homeowners and renters to assess their financial goals and lifestyle preferences when making their decisions. On the other end of the spectrum, zip codes with a ratio above 20 suggest renting is more economical. These areas often feature higher <a href="https://teamprice.com/price-to-rent-ratio">home prices relative to rental costs</a>, making them ideal for those who prefer to avoid the financial commitment of homeownership. For example, 78703, with a ratio of 39.4, and 78746, with a ratio of 31.7, stand out as prime rental markets. These zip codes are often sought after for their upscale homes and desirable locations, which drive up property values more rapidly than rental rates. Across the Austin metropolitan area, the median price-to-rent ratio is approximately 19.9. This figure places the overall market in a balanced position, with certain neighborhoods tilting more toward renting or buying based on specific local conditions. For instance, Travis County, which encompasses many of Austin’s central zip codes, showcases a broad range of ratios. Zip codes like 78703 and 78746 reflect high ratios that favor renters, while 78744 at 16.0 and 78747 at 15.1 offer more favorable conditions for buyers. Williamson County offers similar diversity. Zip codes such as 78634 in Hutto and 78641 in Leander reflect balanced ratios, providing opportunities for both renters and buyers. Meanwhile, Hays County, which includes areas like Kyle and Buda, features lower ratios in zip codes like 78640 (14.0) and 78610 (14.2), indicating strong markets for buyers seeking affordability. Overall, 48% of Austin's zip codes fall below a ratio of 15, marking them as buyer-friendly. Another 29% fall within the balanced range of 15 to 20, where market conditions support either buying or renting. The remaining 23% exceed a ratio of 20, emphasizing the value of renting in premium areas. For investors, these metrics provide valuable insights into where rental properties may yield the highest returns. Low-ratio zip codes like 78725 and 78724 present strong rental income opportunities with affordable home prices. Conversely, renters looking to maximize their housing budget should focus on high-ratio areas like 78703, where the relative cost of renting remains favorable compared to buying. By understanding the price-to-rent ratio across Austin's zip codes, individuals can better navigate this competitive real estate market. Whether buying a first home, renting a luxury property, or investing in a rental unit, the price-to-rent ratio serves as a powerful tool to inform smarter decisions and optimize financial outcomes​

Explore the price-to-rent ratio across 75 Austin zip codes. Learn whether it’s better to buy or rent, with detailed data on housing affordability, market trends, and investment opportunities in Austin’s real estate market

Austin Price-to-Rent Ratio: Insights Across 75 Zip Codes

Austin-Area Real Estate Market Report: Trends in the Top 30 Cities November 21, 2024 : The real estate market in the Austin area continues to showcase a diverse range of opportunities for buyers and sellers alike. With the latest analysis of 30 cities, we see a spectrum of market conditions shaped by inventory levels, pricing trends, and demand patterns. Understanding these dynamics can help buyers, sellers, and investors navigate their decisions effectively. The cities analyzed are classified into three categories based on months of inventory: seller's markets, neutral markets, and buyer's markets. A seller’s market occurs when there is less than 4.9 months of inventory, signaling strong demand relative to supply. Neutral markets, with 5 to 6.9 months of inventory, represent a balance between buyers and sellers, while buyer’s markets, exceeding 7 months of inventory, indicate an oversupply of homes. Among the 30 cities in the Austin area, 40% are seller’s markets, 33% are neutral, and 27% are buyer’s markets, illustrating a varied landscape of real estate activity. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241121021044.png" alt="" width="" height="" style=""></figure></div> Austin, the region's flagship city, represents a neutral market with 5.04 months of inventory. The median home price stands at $599,000, and properties spend an average of 76 days on the market. Austin’s inventory and pricing balance make it an appealing market for both buyers seeking opportunities and sellers looking for competitive offers. <a href="https://teamprice.com/cities/georgetown-tx">Georgetown</a>, with 3.68 months of inventory, leans toward a seller’s market. This city sees a median home price of $515,000 and homes averaging 75 days on the market, reflecting steady demand. In contrast, cities like <a href="https://teamprice.com/cities/burnet-tx">Burnet</a> and <a href="https://teamprice.com/cities/spicewood-tx">Spicewood</a> experience slower market activity, categorizing them as buyer’s markets. Burnet has 11 months of inventory, a median price of $599,000, and properties lingering on the market for an average of 82 days. Similarly, Spicewood, with 11 months of inventory and a median price of $899,000, offers abundant options for buyers seeking more luxurious properties at potentially negotiable prices. Affordability plays a key role in driving market dynamics. For instance, <a href="https://teamprice.com/cities/jarrell-tx">Jarrell</a>, with a median price of $299,000, sees a brisker pace of sales, boasting just 2.87 months of inventory. Hutto, another affordable option, offers homes with a median price of $397,000 and maintains only 2.80 months of inventory. Both cities highlight the heightened activity in the lower price brackets, where demand often outpaces supply. Luxury markets such as <a href="https://teamprice.com/cities/driftwood-tx">Driftwood</a> and <a href="https://teamprice.com/cities/dripping-springs-tx">Dripping Springs</a> tell a different story. Driftwood’s median home price stands at $1.3 million, with 7.31 months of inventory reflecting a buyer’s market. Dripping Springs, though more balanced with 5.44 months of inventory, also caters to high-end buyers with a median price of $773,859. These areas demonstrate the slower turnover typically associated with higher price points. Price adjustments are another critical metric to evaluate market conditions. Several cities in the <a href="https://teamprice.com/cities/austin-tx">Austin</a> area have seen reductions in active listing prices to stimulate buyer interest. For example, <a href="https://teamprice.com/cities/lago-vista-tx">Lago Vista</a> reports an average price drop of 7.8%, equating to $75,000, while <a href="https://teamprice.com/cities/liberty-hill-tx">Liberty Hill</a> properties average an 8.3% reduction, or $60,000. Conversely, in competitive markets like <a href="https://teamprice.com/cities/Pflugerville-tx">Pflugerville</a>, price increases remain modest, with adjustments hovering around 3%. Median days on market also offer insights into transaction speed across different areas. <a href="https://teamprice.com/cities/buda-tx">Buda</a>, with just 64 days on the market, showcases its appeal to buyers, likely due to its combination of affordability and proximity to Austin. Similarly, <a href="https://teamprice.com/cities/Del-Valle-tx">Del Valle</a> sees homes selling within 68 days on average, bolstered by a median price of $369,990. On the other hand, markets like <a href="https://teamprice.com/cities/Wimberley-tx">Wimberley</a>, with 109 days, and Spicewood, with 122 days, reflect longer cycles, typical of higher-end and rural areas. Another layer of complexity emerges when comparing inventory levels with the average and median prices. Cities such as Pflugerville and <a href="https://teamprice.com/cities/Round-Rock-tx">Round Rock</a>, with 3.05 and 3.90 months of inventory respectively, have median home prices of $425,000 and $444,815. These cities represent strong opportunities for buyers and sellers alike, benefiting from stable pricing and lower-than-average inventory. The data also reveals an interesting distribution of active listings across price brackets. Cities like <a href="https://teamprice.com/cities/Cedar-Park-tx">Cedar Park</a> and <a href="https://teamprice.com/cities/Leander-tx">Leander</a>, with median prices of $550,000 and $542,865 respectively, showcase mid-tier market dynamics, attracting buyers who seek value near Austin. Meanwhile, Lockhart, with just 2.32 months of inventory and a median price of $334,950, offers affordable entry points for first-time buyers or investors. Overall, the Austin area’s real estate market presents a complex yet navigable environment. While cities like Austin and Georgetown maintain balanced conditions, places like Hutto and Jarrell emerge as hotspots for sellers. Meanwhile, buyers find leverage in markets like Burnet and Spicewood, where inventory levels remain high. By understanding the interplay between pricing, inventory, and demand, stakeholders can make informed decisions that align with their real estate goals.&nbsp;

Explore the latest real estate trends across 30 cities in the Austin area. Discover market conditions, pricing insights, and inventory levels to guide your buying or selling decisions

Austin-Area Real Estate Trends: Top 30 Cities Analysis

Austin Real Estate Market Update: November 2024 November 20, 2024 : The Austin-area real estate market is undergoing notable changes as November progresses. There are currently 13,740 <a href="https://teamprice.com/active-residential-listings">active residential properties for sale</a>, with 3,951 pending properties. This results in an Activity Index of 22.33%, a figure that highlights the ratio of pending properties compared to the total number of active and pending listings. This combination reflects a market with substantial inventory alongside steady buyer activity. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241120012703.png" alt="" width="" height="" style=""></figure></div> The <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">months of inventory (MOI) across the Austin</a> area averages 4.8 months, signaling a balanced market that favors neither buyers nor sellers. This is the lowest MOI since March 2024, indicating a shift toward more stable conditions. Across the 30 cities in Central Texas, months of inventory range widely—from a tight 2.35 months in high-demand areas to a substantial 11 months in markets with slower activity. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241120012601.png" alt="" width="" height="" style=""></figure></div> Home prices show a median sold price of $440,000 and an average sold price of $585,629. Compared to the market's peak in May 2022, the average sold price has dropped by 20%, creating improved affordability for buyers. Despite these adjustments, sellers continue to secure favorable results, with a sold-to-list price ratio of 97.10%, demonstrating that properties are generally selling close to their listed prices. The average time on the market is currently 70 days, underscoring the importance of competitive pricing and effective marketing strategies to achieve quicker sales. Additionally, 54.39% of active listings have seen price reductions, reflecting sellers’ willingness to adjust in response to market conditions and buyers’ focus on value. These patterns indicate that the Austin-area housing market is adjusting to evolving economic conditions, such as fluctuating interest rates and changing buyer demand. The balance reflected in the months of inventory suggests a stable environment, offering opportunities for both buyers and sellers to achieve their real estate goals.&nbsp;​

Discover the latest trends in the Austin real estate market for November 2024. Explore detailed data on inventory, pricing, days on market, and more, providing insights for buyers and sellers.

November 2024 Austin Real Estate Market Update: Key Trends and Insights

Austin's Top Appreciating Zip Code in 2024: A Closer Look at 78730 In the ever-changing Austin real estate market, the <a href="https://teamprice.com/data-analysis/78730">78730 zip code</a> has emerged as the best-performing area in terms of year-over-year appreciation. According to the latest data, the 78730 area has demonstrated remarkable growth, particularly when comparing the median sold price from last year to this year. This impressive performance highlights the continued strength of the 78730 market despite broader economic challenges faced by the Austin area. The annual compound growth rate for the <a href="https://teamprice.com/data-analysis/78730">78730 zip code</a> from 1999 to 2024 stands at 3.49%, reflecting steady and consistent long-term growth. However, what sets this area apart is the recent surge in the median sold price, making it the standout zip code in Austin for 2024. In 2023, the median sold price in 78730 was $995,000, showing a slight decline from previous highs. However, 2024 brought a strong recovery, with the median sold price jumping to $1,175,000, marking an impressive 18% increase compared to the previous year. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241111123841.png" alt="" width="" height="" style=""></figure></div> The historical data for 78730 reveals notable fluctuations and growth patterns that tell a broader story about this market's resilience. In the early 2000s, the area experienced rapid price increases, including a significant spike between 1999 and 2000, where the median sold price rose by 30%. This was followed by a period of market corrections in the mid-2000s, aligning with the nationwide housing downturn during the financial crisis. From 2007 to 2009, the area saw a sharp drop in both average and median sold prices, reflecting the broader economic recession. Despite these setbacks, the 78730 zip code rebounded strongly in the 2010s. The market showed consistent growth year after year, with a notable surge between 2013 and 2015. The average sold price climbed from $615,182 in 2013 to $657,770 in 2015, while the median sold price increased by 14% during the same period. This steady appreciation continued into the late 2010s, setting the stage for the dramatic gains seen during the COVID-19 pandemic. The impact of the pandemic on the Austin real estate market was profound, and the 78730 area was no exception. In 2020 and 2021, the zip code saw its largest gains in over a decade. The average sold price jumped by 22% in 2020, followed by a staggering 32% increase in 2021. During this time, median prices also soared, reaching a high of $975,000 in 2021. These figures underscore the surge in demand for homes in desirable, suburban areas like 78730, as buyers sought more space and quality amenities. However, 2022 brought a shift in the market. Rising interest rates and broader economic concerns led to a cooling of the real estate frenzy. The average sold price in 78730 fell by 4%, while the median sold price still managed a modest increase of 5%, showing that while demand softened, it remained relatively strong in this sought-after area. The following year, 2023, saw further declines in both average and median sold prices, reflecting the ongoing market adjustments and a return to more balanced conditions. The strong rebound in 2024 highlights the underlying demand and desirability of the 78730 area. This year, the median sold price climbed back up to $1,175,000, an 18% increase from the previous year, signaling renewed buyer confidence and likely reduced inventory levels. The growth in 2024 positions 78730 as the best-appreciating zip code in Austin, attracting both investors and homebuyers looking for long-term value in the market. Beyond the numbers, the 78730 zip code offers a lifestyle that draws residents year after year. The area includes some of Austin’s most desirable neighborhoods and subdivisions, such as <a href="https://teamprice.com/subdivisions/river-place">River Place</a>, Long Canyon, Westminster Glen, Shepherd Mountain, and Glenlake Estates. These communities feature a mix of luxury homes, spacious lots, and scenic views of the Texas Hill Country. Residents enjoy close proximity to outdoor attractions like Emma Long Metropolitan Park, which offers miles of hiking trails, waterfront activities along Lake Austin, and picnic areas perfect for family outings. Another unique aspect of the 78730 zip code is its easy access to major roadways like RM 2222 and Loop 360, providing convenient commutes to downtown Austin and the Domain. The area is also known for its top-rated schools, making it a popular choice for families. The natural beauty, combined with upscale amenities and excellent connectivity, makes 78730 one of the most sought-after and appreciated zip codes in the city. In summary, the 78730 zip code has shown remarkable resilience and consistent growth over the past two decades, with significant appreciation, particularly in 2024. This data-driven analysis highlights the market's ups and downs but ultimately shows a strong upward trend. Buyers and investors looking at the Austin real estate market would be wise to consider the 78730 area, which continues to demonstrate its strength and potential for future appreciation.&nbsp;

Explore why Austin’s 78730 zip code stands out as the top appreciating area in 2024. Detailed analysis of home prices, neighborhood amenities, and historical trends make 78730 a must-watch market for buyers and investors

78730: Austin’s Top Appreciating Zip Code in 2024

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

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

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

Austin to Miami: Freddie Mac’s 2024 Home Price Insights Across U.S. Cities November 01, 2024 : The <a href="https://teamprice.com/freddie-mac-house-price-index">Freddie Mac House Price Index (FMHPI)</a> is a crucial tool for understanding housing market trends in the United States. This comprehensive report offers an in-depth look at home price changes across various metro areas, allowing both buyers and sellers to gain valuable insights into the current state of the real estate market. Using data up to September 2024, the FMHPI provides a clear view of how home prices have fluctuated from different starting points, including January 2020, January 2021, and September 2022. In analyzing these figures, trends emerge across cities that highlight both significant growth in some regions and marked declines in others. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241101110538.png" alt="" width="" height="" style=""></figure></div> One of the most notable areas featured in the FMHPI report is Austin, Texas, which saw a substantial peak-to-present decline in home values of -14.7%, with its peak in May 2022. This downturn highlights a broader trend in many cities where the overheated markets of the past few years have begun to stabilize or decline. Austin's significant decline is reflective of an overall adjustment seen in cities where housing demand surged rapidly during the pandemic, and as conditions have normalized, prices have started to correct. San Francisco, Portland, and Denver also reported declines from their peak values, with decreases of -3.5%, -4.0%, and -4.2%, respectively. These figures underscore the effects of economic normalization after rapid price surges in high-demand areas. However, not all metro areas experienced similar declines. The report highlights several regions where prices have continued to climb, reflecting strong local demand. For instance, Miami, Florida, and Tampa, Florida, experienced notable increases since January 2020, with Miami’s home prices surging by 74.5% and Tampa’s by 70.6%. These cities have benefited from steady demand due to favorable factors, including strong migration trends and comparatively affordable real estate markets. Charlotte, North Carolina, and Providence, Rhode Island, followed closely with price increases of 66.8% and 64.6% since January 2020, respectively. These cities illustrate that while some markets are cooling, others continue to attract homebuyers, contributing to significant long-term price growth. Additionally, year-over-year data from the FMHPI shows varied performance among metro areas, indicating that the real estate market is far from uniform. Cities such as Providence, New York, and Cleveland maintained positive year-over-year growth, showing increases of around 7.4%. These metro areas have continued to attract steady interest, and this demand has helped sustain price growth in these regions. Conversely, Austin experienced a slight year-over-year decline of -0.9%, reflecting the continued correction within its market. Other cities with similar patterns include San Francisco and Denver, where local conditions have tempered recent home price gains. Monthly data from the FMHPI reveals further fluctuations. Some cities demonstrated modest month-over-month increases, including Cleveland and Detroit, with growth rates nearing 0.9%. Other cities, such as Austin and Tampa, saw slight month-over-month declines, continuing their respective cooling trends. The monthly data points serve as a useful indicator for buyers and sellers interested in the latest developments, as this information can be helpful when determining optimal timing for real estate decisions. The FMHPI report also emphasizes the broader trend of metro areas experiencing a decrease from their peak values. A total of 91.41% of the 384 cities measured in the report have seen a decline from their highest price levels, with an average decrease of -1.6%. These declines, however, vary widely depending on the specific city, with each market showing its unique trajectory. Many areas reached their peak values between the second quarter of 2022 and the present day, reflecting a shift in the housing market as it moves into a phase of adjustment and potential stability. The FMHPI data highlights this trend, showing that while markets have generally cooled from their peaks, conditions differ considerably by region. The Freddie Mac House Price Index provides a reliable view of the state of housing across the United States. By examining home prices in a wide range of metro areas, from Austin to Miami, it becomes clear that the market is experiencing both growth and correction, depending on local conditions. The data reveals key insights for anyone interested in real estate, offering a valuable resource for understanding current trends and making informed decisions. With a mix of rising prices in some areas and cooling trends in others, the FMHPI is an essential tool for navigating today’s housing market​

Discover Freddie Mac’s House Price Index (FMHPI) 2024 report with detailed analysis of U.S. housing market trends. See how cities like Austin and Miami are performing, with data on home price changes since 2020. Learn about year-over-year changes and monthly fluctuations to help guide informed real estate decisions

Freddie Mac House Price Index 2024: U.S. Housing Market Trends Analyzed

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’s 2-Bedroom Apartment Market: Vacancy Rates, Rental Trends, and Construction Data October 29, 2024 : In recent years, the rental market in the Austin-Round Rock-Georgetown area has seen dynamic changes shaped by shifts in vacancy rates, rental prices, and the <a href="https://teamprice.com/building-permits">volume of permits issued for new apartments</a>. These trends reflect broader market forces at work, such as population growth, supply and demand fluctuations, and economic conditions. This analysis takes a closer look at the data from January 2017 to October 2024, exploring how each variable—vacancy rates, rental prices, and permit numbers—impacts the local rental market. Beginning in 2017, Austin’s rental market was marked by steady demand for two-bedroom apartments, with vacancy rates starting at 8.43% in January of that year. This demand kept the rental prices increasing, with <a href="https://teamprice.com/market-cycle-lease">average monthly rents</a> rising from $1,231 in early 2017 to $1,342 by the end of 2019. During this period, permits for 5+ unit buildings averaged around 869 per month, indicating steady construction to meet tenant demand. This additional supply was readily absorbed by the market, which kept <a href="https://teamprice.com/market-cycle-lease">rental prices stable</a> or slightly increasing each year. By the end of 2019, vacancy rates had declined to 6.61%, showing that demand was healthy and that the market was still tight despite new inventory entering 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/20241029051624.png" alt="" width="" height="" style=""></figure></div> The impact of the COVID-19 pandemic in 2020 introduced new challenges. From January to July 2020, vacancy rates rose from 6.84% to a peak of 8.03%, reflecting the pandemic's disruption of economic stability and population mobility. <a href="https://teamprice.com/market-cycle-lease">Rental prices stabilized</a> during this time, remaining around the $1,300 range as landlords aimed to retain tenants in a more uncertain environment. Despite these challenges, construction activity remained strong, with monthly permits averaging around 1,567 in 2020. The high rate of new permits suggested that developers remained optimistic about the Austin area’s long-term growth, even amid short-term setbacks. As the pandemic restrictions eased, 2021 marked a surge in demand for <a href="https://teamprice.com/market-cycle-lease">rental properties, with vacancy rates</a> rapidly declining from 7.63% in January to a low of 3.95% by September. This decrease in vacancies was accompanied by a sharp rise in rental prices, which climbed from $1,299 in January 2021 to a peak of $1,725 by August 2022. The market was bolstered by an influx of residents moving to the Austin area, combined with economic recovery efforts that fueled job growth and household formation. During this period, monthly permits for new multi-unit buildings were high, averaging over 2,137 per month. Yet, despite this increased construction, tenant demand continued to push vacancy rates lower, driving rental prices to record highs. By late 2022, the landscape began to shift. Vacancy rates started to edge upward again, reaching 6.12% by September 2022 and climbing steadily into 2024. This rise in vacancies can be attributed to the high volume of new units completed in response to the intense demand in 2021 and 2022. The increase in housing stock outpaced the current demand, pushing vacancy rates to 9.45% by October 2024. As a result, rental prices started to soften, declining from the 2022 peak of $1,725 to around $1,476 by October 2024. This adjustment suggests that the Austin rental market may have reached a saturation point, where new supply outpaces tenant demand, leading landlords to adjust prices downward to fill vacant units. <a href="https://teamprice.com/building-permits">Permit data for 2023 and 2024</a> shows that construction activity remained robust, with monthly averages of 1,757 in 2023 and 1,702 through the first ten months of 2024. Although slightly lower than the 2021 peak, these figures still represent a high level of new construction, which has contributed to the current inventory surplus and rising vacancy rates. The increased housing availability is a positive development for renters, who may benefit from greater choice and more competitive pricing. However, for landlords, the shift in supply-demand dynamics means adjusting expectations and pricing strategies in a market that has evolved from intense competition for limited rentals to a more balanced or even tenant-favorable environment. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241029051610.png" alt="" width="" height="" style=""></figure></div> The rental market in Austin-Round Rock-Georgetown has undergone a notable transformation over the past seven years. The combination of sustained population growth, fluctuating demand influenced by economic conditions, and a steady influx of new construction has created distinct market phases. As vacancy rates continue to rise, and with rental prices adjusting to new levels, the data suggests that the Austin rental market is entering a new era, one where supply and demand are more aligned. For potential renters, this translates to a broader selection of housing options, while landlords may need to adapt to a more competitive market. This analysis of vacancy rates, rental trends, and construction permits provides a comprehensive look at how the Austin rental market has evolved. With current trends continuing, the coming months may reveal further shifts in this dynamic and fast-growing region​​

Explore the latest trends in Austin's rental market from 2017 to 2024. This in-depth analysis covers vacancy rates, rental price fluctuations, and permit data for new apartments, providing insights into the impact of supply and demand in the Austin-Round Rock area

Austin Rental Market Analysis 2017-2024: Vacancy Rates, Rent Prices, and Construction Trends

Austin’s 78701 Zip Code Sees Record Lease Price Drop in 2024: A 25-Year Market Analysis October 29, 2024 : The downtown Austin real estate market, centered in the <a href="https://teamprice.com/zip-codes/78701">78701 zip code</a>, has seen substantial changes over the past 25 years. Known for its vibrant culture, proximity to major employers, and mix of high-rise apartments and luxury condos, downtown Austin has traditionally been a high-demand rental market. However, the latest data for 2024 reveals a surprising downturn in leasing prices, indicating a potential shift in the market. Understanding these trends provides valuable insights for both investors and renters. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241029121012.png" alt="" width="" height="" style=""></figure></div>​ Since 1999, leasing prices in the <a href="https://teamprice.com/zip-codes/78701">78701 zip code</a> have steadily increased, with the median leased price rising from $1,100 to $2,995 in 2024. The average leased price has also grown significantly, starting at $1,270 in 1999 and reaching $3,567 in 2024. This consistent increase translates to an annual compound growth rate of 3.72%, reflecting the appeal and economic strength of the downtown Austin area. Over the years, the area has attracted a steady influx of residents who are drawn to its unique amenities and vibrant lifestyle. Yet, despite this long-term growth, the market is now experiencing a notable drop in leasing prices. From 2023 to 2024, the average leased price declined by 10%, marking the largest year-over-year decrease in 25 years. The median leased price similarly dropped by 6% over the past year. This decrease is significant, considering the historical trend of steady price increases. Such a substantial decline in both average and median prices points to changing demand dynamics within downtown Austin. The year-over-year variations in the data also reveal how the 78701 leasing market has responded to economic shifts over time. For example, in 2000, the median leased price surged by 36%, and in 2011, it increased by 18%. These spikes coincide with periods of economic growth, when high demand for downtown living pushed prices upward. Conversely, the financial crisis in 2009 brought a downturn, with the average leased price dropping by 6%. This pattern demonstrates how closely tied the downtown Austin rental market is to the broader economy. More recently, the downtown market experienced a period of rapid growth following the COVID-19 pandemic. As urban areas reopened and people returned to city life, demand for <a href="https://teamprice.com/zip-codes/78701">rentals in 78701</a> surged. In 2022, the average leased price increased by 19%, reflecting this demand spike as renters sought the convenience and lifestyle that downtown Austin offers. However, the recent price drop in 2024 suggests a correction in the market, possibly influenced by rising living costs, increased rental supply, or shifting renter priorities. Affordability is likely playing a key role in the latest price shift. <a href="https://teamprice.com/zip-codes/78701">Downtown Austin</a> has traditionally been one of the most expensive rental markets in the city, making it sensitive to economic pressures that affect renter budgets. As rental prices climbed, other parts of Austin became more attractive to renters seeking affordability. Additionally, rising interest rates have created affordability challenges for both renters and prospective homebuyers, further impacting demand in the downtown market. The <a href="https://teamprice.com/zip-codes/78701">78701 area’s leasing market</a> also faces increased competition from newly developed properties across Austin. As more rental units become available, renters have more options, potentially easing demand in the core downtown area. This influx of supply could explain part of the recent decline in leased prices as property owners adjust rates to remain competitive. The leasing trends in <a href="https://teamprice.com/zip-codes/78701">Austin’s 78701 zip code</a> provide a clear picture of the area’s market cycles and economic responsiveness. While the long-term growth trend underscores downtown Austin’s sustained appeal, the recent downturn highlights the impact of affordability and supply dynamics. Investors and renters alike should keep an eye on these changes, as they reflect the ongoing evolution of Austin’s housing landscape. With Austin’s rapid growth and development, downtown remains a dynamic and influential part of the city’s real estate market.&nbsp;

Latest 2024 data on leasing trends in Austin’s 78701 zip code. This in-depth analysis covers a 25-year span, revealing the largest year-over-year price drop downtown Austin has seen. Discover how economic shifts, affordability challenges, and increased supply are impacting rental prices in Austin’s prime downtown area

Downtown Austin’s 78701 Zip Code Sees Largest Lease Price Drop in 25 Years: 2024 Analysis

Austin Home Prices Up Year-Over-Year: October 2024 Market Insights In October 2024, the Austin real estate market has demonstrated notable resilience, achieving an average sold price of $579,330, a 5.5% increase from September 2024, and a 3.5% rise compared to October 2023. Although the current October price does not surpass the record high of October 2022, when the average sold price reached $593,970, this recent gain indicates a market rebound year-over-year and month-over-month. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241028061847.png" alt="" width="" height="" style=""></figure></div> Historically, Austin’s real estate market has exhibited distinct cyclical patterns. The peak in October 2022 marked the highest recorded October average sold price. Since then, prices have moderated, with fluctuations reflecting adjustments to the shifting economic climate and changing buyer demand. However, the data from October 2024 suggests a renewed interest in the Austin market, with current prices recovering from prior declines and showing sustained month-over-month growth, despite remaining below the 2022 high. The market's trajectory over the past two years highlights these cyclical shifts. For instance, the average sold price decreased to $559,879 in October 2023, representing a year-over-year decline of approximately 5.7% from 2022. This decline mirrored broader market adjustments across Texas and other regions as buyers recalibrated in response to economic conditions. The 2024 data, however, reflects a return of positive momentum, as prices rise above 2023 levels, though they remain about 2.5% below the October 2022 peak. This year-over-year increase indicates a stabilizing market with steady buyer demand. Median sold prices add another layer of insight into Austin’s real estate dynamics. In October 2024, the median sold price was $435,000, a 2.4% increase from September’s $425,000, although it reflects a slight year-over-year decline from October 2023’s $438,520. This decrease contrasts with the rise in average prices, signaling that high-value properties are driving the market’s upward trend while the central portion of the market remains relatively stable. This pattern suggests that while buyers continue to pursue premium properties, options in more affordable ranges remain accessible. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241028061933.png" alt="" width="" height="" style=""></figure></div> The data underscores Austin’s balanced appeal to a range of buyers. The simultaneous rise in average sold prices and stabilization of median prices suggests that the market offers both high-end and accessible options for buyers. Although prices remain below the October 2022 high, the current month-over-month and year-over-year gains in 2024 indicate a strengthened market with potential for future growth as economic conditions evolve. In summary, October 2024 represents a significant milestone in Austin’s real estate market recovery, with the average sold price reaching $579,330. This figure, while below the October 2022 record high of $593,970, reflects a positive upward shift from October 2023, with a month-over-month increase of 5.5%. As Austin continues to attract buyers across different price points, its real estate market remains robust, with both average and median prices providing a comprehensive view of market health.&nbsp;

October 2024 marked a resurgence in Austin’s real estate market with an average sold price of $579,330, up 5.5% month-over-month and 3.5% year-over-year. Explore data insights on the Austin market’s growth trajectory and its current position below 2022’s record high

Austin Home Prices Rebound in October 2024: A Year-Over-Year and Month-Over-Month Growth Analysis

Austin Real Estate Market October 2024: Rise in Pending Sales and Inventory The real estate market in Austin has seen significant changes as of October 2024, reflecting a combination of increased buyer activity and ample housing inventory. In the latest market update, the Austin area recorded a total of 4,130 pending listings, which marks a 6.0% increase compared to the same time last year. This rise in pending listings points to strong demand, suggesting that many buyers are finding value in the current market despite broader economic challenges. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241028060755.png" alt="" width="" height="" style=""></figure></div> Alongside this uptick in pending listings, the number of <a href="https://teamprice.com/active-residential-listings">active residential properties</a> in Austin reached 14,306, showing a notable year-over-year increase of 14.5%. This surge in available properties creates a well-supplied market for buyers, offering a wide selection of homes at competitive price points. Although inventory levels peaked in July 2024 at 15,503 active listings, the current figure still represents an ample supply, balancing demand effectively. This increase in active listings is coupled with other key market indicators that highlight the current market’s state. For instance, the Activity Index—measuring the ratio of pending to active listings—stands at 22.4%, an essential gauge for both buyers and sellers. This index level indicates a balanced market where demand is still strong but well-matched by supply, helping to maintain stability across property prices. Another valuable indicator is the Months of Inventory (MOI), which currently stands at 5.11 months. MOI measures how long it would take for the existing inventory to be sold at the current sales pace if no new listings entered the market. A MOI of over 5 typically suggests that the market leans towards a buyer's advantage, with more options for prospective homeowners to consider. However, this level is balanced enough that sellers can still anticipate steady interest in their listings. Breaking down the types of active listings reveals even more about current market trends. Of the 14,306 active listings, a significant portion represents resale properties, which make up 62.3% of the total. Resale homes average prices around $761,692, down by 7.1% from previous levels. New construction homes also form a substantial part of the inventory at 16.2%, with an average price of $742,062, reflecting an 8.1% decrease from past months. These price adjustments suggest that sellers and builders alike are aligning their pricing strategies with the market’s demand, creating opportunities for buyers. Looking at pending sales, resale properties constitute a large share, accounting for 50.4% of all pending listings, with average listing prices around $571,568. New construction follows closely, making up 17.9% of all pending listings with an average price of $599,742. The variance in pending prices indicates that while there is interest in new builds, resale properties continue to attract buyers who may be drawn to established neighborhoods or homes with existing character. For anyone tracking real estate trends in Austin, this data provides a clear view of the market's strength and balance. Higher pending listings, alongside abundant inventory and stable pricing, show a healthy market that caters to a wide range of buyers. As Austin's real estate landscape evolves, these key metrics provide valuable insights for buyers, sellers, and investors alike​

Explore Austin’s real estate market as of October 2024, with a 6% increase in pending sales and a 14.5% rise in available inventory, creating a balanced environment for buyers and sellers. Analyze key metrics like the Activity Index and Months of Inventory to understand market trends

Austin Housing Market October 2024: Increased Pending Sales and Inventory Trends

Austin’s Real Estate Market Hits Record-High Average List Price in October 2024 The City of Austin continues to demonstrate its robust real estate market growth, with the average list price reaching an all-time high of $947,796 in October 2024. This marks a significant increase from the previous October 2023 figure of $891,040, representing a 6.36% year-over-year rise. Austin’s real estate market has consistently demonstrated resilience and upward movement in property values over the past decade, contributing to its appeal for both homebuyers and investors. Looking back at historical data, the average list price in Austin has climbed steadily over the last decade. In 2014, the average price was $446,553, meaning that in 10 years, the city has seen a staggering 113.8% increase in property values. This growth is reflective of Austin’s position as one of the fastest-growing cities in the United States, driven by strong economic factors, population growth, and high demand for housing. Month-to-month data over the past year shows fluctuations in pricing, but the general trend has remained upward. In January 2024, the average list price was $887,148, slightly down by 0.5% from January 2023. However, this minor decline was quickly offset in subsequent months, with prices rebounding and ultimately peaking in October 2024. Notable increases include the February average list price, which rose to $913,186, and the March figure of $921,807. In addition to the year-over-year increase, the data shows strong growth over the past five years. From 2020 to 2024, Austin’s average list price rose by 69.6%. This five-year trend underscores the city's sustained price appreciation, making it a sought-after location for both residential and investment properties. The year 2021 was particularly noteworthy, with the market experiencing a 22.7% increase in list prices in October of that year, largely due to heightened demand and limited inventory during the pandemic. Examining the data from earlier years highlights the long-term upward trajectory of the market. In October 2015, the average list price was $480,635, and by October 2020, it had surged to $638,789, a 14.3% rise from 2019. As of October 2024, the city has maintained a steady pattern of growth, despite occasional market adjustments. This upward trend in Austin’s real estate market is not unique to October alone. Throughout 2024, other months also experienced substantial price increases. For instance, the average list price in April 2024 was $946,453, which represents a 3.0% rise compared to the previous year. In July 2024, the market held firm with an average price of $825,660, marking a 1.2% year-over-year growth. These figures emphasize the ongoing demand for housing in the Austin area. One of the most striking aspects of this data is the consistency of Austin’s real estate market growth, even during periods of economic uncertainty. The year-over-year percentage changes show that the city has experienced stable, upward trends for the better part of a decade. Whether looking at the 10-year growth of 113.8% or the five-year surge of 69.6%, it is clear that Austin remains a competitive market for both buyers and 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/20241024043822.png" alt="" width="" height="" style=""></figure></div> As Austin’s average list price continues to rise, market analysts will closely watch whether this trend persists into 2025. For now, it’s evident that Austin's real estate market is strong, with prices reflecting both the high demand for housing and the area's rapid economic growth. The data suggests that as long as these driving factors remain in place, Austin’s market will likely continue to thrive, presenting opportunities for those looking to invest in one of the nation’s most dynamic housing markets​

In October 2024, Austin’s real estate market hit a record high, with the average list price reaching $947,796. Learn about the market's impressive 113.8% growth over the past decade and what’s driving these numbers.

Austin Real Estate Reaches Record-High List Price: October 2024 Analysis

Austin Zoning Changes Lead to Spike in 2-4 Unit Housing Permits In September 2024, Austin witnessed a remarkable <a href="https://teamprice.com/building-permits">surge in permits</a> for the construction of 2-4 unit housing developments. According to recent data, 314 permits were issued in that month alone. This is a substantial increase compared to previous months, reflecting a clear shift in Austin's housing market and development patterns. This surge is a result of recent zoning reforms that have reshaped how residential lots are used in the city, encouraging higher-density housing solutions. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241024030408.png" alt="" width="" height="" style=""></figure></div> Historically, Austin’s zoning laws favored single-family homes, limiting the potential for diverse housing options in many neighborhoods. However, in response to the city's growing population and affordability challenges, the Austin City Council introduced significant changes aimed at boosting housing density. One key reform, implemented in December 2023, allowed developers to build up to three units—such as duplexes and triplexes—on lots previously zoned for single-family homes. This change was a bold move to encourage more efficient use of space in Austin's urban core and increase the availability of affordable housing options. Further enhancing these efforts, in May 2024, the City Council reduced the minimum lot size requirement for single-family homes. The previous minimum of 5,750 square feet was reduced to 1,800 square feet, which opened the door for smaller, more affordable homes to be built on the same land footprint. This reduction in lot size also allowed for the development of 2-4 unit homes on lots that would have previously only accommodated a single-family residence. The data clearly shows that developers are taking advantage of these changes. The spike to 314 permits in September 2024 is a striking increase when compared to the year’s previous average. In August 2024, only 30 permits for 2-4 unit developments were issued, and in July 2024, there were just 25 permits. These lower numbers reflect a typical trend from earlier years, when fewer multi-unit developments were feasible due to Austin’s restrictive zoning laws. This recent spike marks a significant shift in how the city is addressing its housing needs. The multi-unit housing developments not only provide more affordable housing options but also help accommodate the influx of new residents to Austin. By allowing duplexes, triplexes, and fourplexes to be built in neighborhoods that previously only allowed single-family homes, the city is working to alleviate its housing shortage and offer more diverse living arrangements for its residents. While some local residents have voiced concerns about the potential changes to neighborhood character and increased density, the city’s leadership is focused on addressing Austin’s housing crisis through smart, calculated reforms. The dramatic rise in permits for 2-4 unit homes is evidence that these zoning changes are having a tangible impact on Austin’s housing market. Developers are responding quickly to the opportunities created by these reforms, and the result is a more diverse and dynamic housing landscape in the city. Austin’s recent zoning reforms aim to strike a balance between preserving neighborhood integrity and meeting the growing demand for housing. As developers continue to take advantage of these changes, Austin’s housing market will likely see further shifts, with increased density playing a crucial role in the city’s efforts to provide affordable housing options to its expanding population​

In September 2024, Austin issued 314 permits for 2-4 unit housing developments, marking a significant increase driven by recent zoning reforms. Discover how these changes are reshaping Austin’s housing market and addressing the city’s affordability challenges

Austin Real Estate: 2-4 Unit Permits Surge in September 2024

Austin Area Housing Market: October 2024 Market Conditions by Zip Code October 23 2024 : The real estate market in the Austin area, specifically across 75 zip codes, offers a diverse landscape that fluctuates between sellers, neutral, and buyers’ markets. A detailed look at the data from October 2024 reveals critical insights into months of inventory, pricing trends, and the overall real estate dynamics within key areas such as Austin, Georgetown, Round Rock, and Leander. Understanding these trends is essential for both buyers and sellers to make informed decisions. <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of inventory</a>, a measure of the balance between supply and demand, plays a pivotal role in defining the market. A sellers' market is characterized by less than 4.9 months of inventory, meaning demand is higher than the available homes. Neutral markets have inventory between 5 and 6.9 months, where supply and demand are more balanced. Finally, buyers' markets feature more than 7 months of inventory, where the supply of homes exceeds demand, giving buyers more negotiating power. As of October 2024, 39% of the cities in the Austin area fall under the sellers' market category, 25% are classified as neutral markets, and 36% are buyers' markets. Each zip code reflects a different set of market conditions, and the data illustrates how these factors influence property prices and time on the market. In a sellers' market like <a href="https://teamprice.com/zip-codes/78739">78739 (Austin)</a>, there is only 1.4 months of inventory, making it highly competitive for buyers. With an average home price of $936,857 and a median price of $799,450, homes in this area are in demand. The median time on the market is 41 days, a testament to how quickly properties are moving. Similarly, <a href="https://teamprice.com/zip-codes/78747">78747 (Austin)</a> also reflects a sellers' market, though inventory is slightly higher at 5.5 months. With 143 active listings, homes have a median price of $454,990 and spend 32 days on the market. In contrast, neutral markets offer a more balanced environment for both buyers and sellers. <a href="https://teamprice.com/zip-codes/78759">78759 (Austin)</a>, with 5.3 months of inventory, fits into this category. The median home price here is $634,500, and properties take about 69 days to sell. Neutral markets like <a href="https://teamprice.com/zip-codes/78626">78626 (Georgetown)</a>, which features 4.51 months of inventory and a median price of $436,505, reflect balanced supply and demand, allowing transactions to be fairer for both sides. Buyers' markets, on the other hand, are seen in areas like <a href="https://teamprice.com/zip-codes/78746">78746 (Austin)</a>, where the inventory reaches 8.6 months. This area features a high-end market, with average home prices reaching $3,153,492 and a median price of $2,480,000. Homes in this category tend to stay on the market longer, with a median of 89 days, offering buyers more time and negotiating power. Another buyers’ market is <a href="https://teamprice.com/zip-codes/78669">78669 (Spicewood)</a>, where inventory levels stand at 11 months. The median home price is $963,000, and homes typically stay on the market for 119 days. Price trends across the region show a mix of reductions and slight increases. In high-demand areas like <a href="https://teamprice.com/zip-codes/78704">78704 (Austin)</a>, prices have dropped by 8.2%, while <a href="https://teamprice.com/zip-codes/78731">78731 (Austin)</a> saw an 8.6% price reduction, reflecting a market shift even in previously competitive zones. Meanwhile, <a href="https://teamprice.com/zip-codes/78759">78759 (Austin)</a> experienced a notable 21.8% price increase, despite being in a neutral market. This uptick indicates growing demand, even as supply remains relatively balanced. Areas with more price volatility are typically those with higher inventory. <a href="https://teamprice.com/zip-codes/78645">78645 (Leander)</a> and <a href="https://teamprice.com/zip-codes/78722">78722 (Austin)</a>, with 11 and 7.2 months of inventory respectively, have seen more fluctuations in prices as sellers adjust to the slower market. As a result, more properties in these zip codes have experienced price drops to attract buyers. For instance, <a href="https://teamprice.com/zip-codes/78701">78701 (Austin)</a> had 52.2% of its listings adjust prices, with an average reduction of 8.0%. This trend of price adjustments is common across the market as sellers respond to changing demand. Inventory levels in each zip code are crucial for understanding market conditions. <a href="https://teamprice.com/zip-codes/78739">78739 (Austin)</a>, with its low inventory, reflects a tight market where buyers must act quickly, while areas like <a href="https://teamprice.com/zip-codes/78669">78669 (Spicewood)</a> and <a href="https://teamprice.com/zip-codes/78746">78746 (Austin)</a>, with their higher inventory, provide more opportunities for buyers to negotiate better deals. For instance, in 78746 (Austin), where the inventory is at 8.6 months, the median time on the market is 89 days, giving buyers more time to consider their options. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241023021334.png" alt="" width="" height="" style=""></figure></div> As the Austin area continues to grow, market conditions are likely to shift further. Monitoring these trends and understanding the months of inventory in each zip code will be key for anyone looking to buy or sell in this diverse and competitive market. Whether you are looking to capitalize on a sellers' market or negotiate in a buyers' market, understanding these market metrics is essential for success.&nbsp;

Discover the latest real estate trends in the Austin area with insights on months of inventory, pricing, and market conditions across 75 zip codes. Learn how market dynamics favor buyers or sellers and how these factors impact home prices and time on the market in October 2024

Austin Area Real Estate Market Analysis: October 2024 Insights by Zip Code

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12,242 active listings with a significant 22.44% yearly increase. Listings increased from from 9,707 in January to 12,339 by April, marking a 28.4% increase. This in-depth review provides precise data, such as a 24% year-over-year increase in April listings

Analyzing the Surge in New Listings and Active Properties : 12,242 active listings | Team Price Real Estate

As of today, April 16, 2024, the market boasts 12,242 active listings. Despite a minor daily decrease of 97 listings, the overall trends are upward, with a monthly increase of 1,325 listings (12.14%) and an even more impressive yearly escalation of 22.44%. Pending listings, totaling 5,097, gives us an <a href="https://teamprice.com/activity-index-city">activity index</a> of 29.40% (pending / active + pending) and 4.25 months of inventory. Pending Listings are down -5.0% year over year. The activity index indicates the speed at which listings are being absorbed by the market. This is also known as the absorption ratio.&nbsp; <div class="se-component se-image-container __se__float-center"><figure><img src="https://static.quicktours.net/agent_richtext/20240416112650.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="285752" data-origin="," style=""></figure></div> A deeper dive into new listings reveals significant year-over-year growth. In January 2023, the market had 9,134 active listings, but by January 2024, this number had risen to 9,707. The growth trajectory continued steeply, reaching 12,339 by April 2024. This represents a marked year-over-year increase, highlighting a 28.4% growth from April 2023’s figure of 9,875 to April 2024. Such data is crucial for predicting future market behaviors and planning investment strategies. Despite the natural ebb and flow of daily listings, the overall trend leans strongly towards a growth in inventory, with the highest peak this year reaching 12,339 listings on April 15, 2024. This peak is significant when compared to the same date in 2023, which recorded 9,988 listings, underscoring a robust 22.6% increase year-over-year. <div class="se-component se-image-container __se__float-center"><figure><img src="https://static.quicktours.net/agent_richtext/20240416112812.png" alt="" data-rotate="" data-proportion="true" data-align="center" data-size="," data-percentage="auto,auto" data-file-name="2023 vs 2024.png" data-file-size="93467" data-origin="," style=""></figure></div>​ ​This analytical look at the real estate market provides essential insights for investors, realtors, and homebuyers. Updated Data : <a href="https://teamprice.com/active-residential-listings">Active Residential Inventory</a>&nbsp;

Analyzing the Surge in New Listings and Active Properties

Published 04/16/2024 | Posted by Dan Price

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