In February 2024, the Austin-Area MLS reported an average sold price of $573,709 for residential properties. This figure marks a 7.0% increase from the previous month and a 6.9% rise compared to February 2023, denoting the first year-over-year gain since October 2022. Examining historical data, the years 2020 through 2021 showcased significant monthly increases, peaking in April 2021 with a 44.3% surge.
The trend reversed in 2023, displaying consistent monthly declines, with the steepest in March at -12.8%. February 2024's uptick deviates from the preceding downward trajectory, suggesting a potential shift in the market. It's essential to note that these figures represent only a snapshot, and ongoing analysis is required to discern long-term market patterns.

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