Austin Area MLS Sees Record High in Active Lease Listings for July 2024

July 07, 2024 : The Austin Area MLS has experienced a remarkable surge in active lease listings, reaching a record high of 6,662 in July 2024. This unprecedented number highlights significant growth in the real estate market, reflecting broader trends observed over the past decade.

In January 2014, the Austin Area MLS recorded 1,892 active lease listings. Fast forward ten years, and this figure has soared to 5,049 by January 2024, marking an impressive 166.9% increase. February showed a similar trend, with listings rising from 1,776 in 2014 to 4,869 in 2024, a staggering 174.2% growth. March also saw a significant increase, with listings jumping from 1,868 in 2014 to 4,760 in 2024, reflecting a 154.8% rise.

The data for April through June further underscores this upward trajectory. In April 2014, there were 2,123 active lease listings, which grew to 5,106 by April 2024. May's listings increased from 2,412 in 2014 to 5,978 in 2024, and June saw a rise from 2,852 to 6,480 over the same period. Each month consistently shows substantial year-over-year growth, emphasizing the expanding rental market in Austin.

July 2024's record high of 6,662 active lease listings is a milestone for the Austin Area MLS. This figure represents a significant leap from the 2,862 listings recorded in July 2014. The month-over-month data reveals a steady climb, with listings rising from 2,935 in 2015 to 3,491 in 2016, and eventually reaching 5,525 in July 2023. The current year's record surpasses the previous high, showcasing a robust and dynamic market.

The trends observed over the last decade illustrate consistent growth in active lease listings, with notable increases year-over-year. For instance, January 2023 saw an 81.7% increase compared to the previous year, while February 2023 experienced a 79.0% rise. March 2023 also demonstrated significant growth with a 77.2% increase from the prior year.

The five-year and ten-year averages provide further insight into these trends. The average number of active lease listings for the five years leading up to 2024 is 5,558, while the ten-year average is 4,908. This comparison indicates a notable increase in recent years, suggesting a vibrant and expanding market.

Analyzing percentage differences year-over-year highlights the fluctuations in the market. January's data, for example, shows a 31.8% increase in 2024 compared to the previous year. Similarly, February and March recorded 28.2% and 21.1% increases, respectively. These variations reflect the market's responsiveness to various external factors and the overall growth trajectory.

In conclusion, the Austin Area MLS has reached a historic milestone with 6,662 active lease listings in July 2024. This record-breaking number is part of a broader trend of significant growth observed over the past decade. The data highlights the dynamic nature of the Austin rental market and underscores the increasing demand for lease properties in the area.

This article is based on data published on July 07, 2024. Austin Real estate statistics are constantly evolving. For the most current data and analysis, please refer to the following resources, updated weekly: Austin-Area Lease Inventory