Central Texas Real Estate Market Analysis: Top 30 Cities Breakdown

July 09, 2024 : The real estate market in Central Texas presents a diverse landscape, with varying conditions across its top 30 cities. According to recent data, 17 of these cities are identified as sellers' markets, characterized by less than 4.9 months of inventory. This means that homes in these areas are selling quickly, indicating high demand.

Examples of cities in a sellers' market include Austin, Cedar Park, and Buda. Austin, for instance, has an average home price of $1,036,767 and a median price of $649,999. With a median of 58 days on the market and 5.13 months of inventory, Austin is on the cusp of a neutral market but still leans towards a sellers' market due to its high demand and competitive pricing.

Detailed Analysis : Type of Market Cities 

Bastrop, another city in a sellers' market, has 298 active listings with an average price of $508,110 and a median price of $439,902. Homes in Bastrop typically stay on the market for about 61 days, with 4.58 months of inventory available. Similarly, Cedar Park's real estate market is robust, with 242 active listings, an average price of $645,379, and a median price of $575,000. Homes in Cedar Park sell quickly, often within 39 days, reflecting its strong sellers' market status.

Seven cities in Central Texas are classified as neutral markets, where the months of inventory range between 5 and 6.9 months. This balance indicates a stable market where the supply of homes meets buyer demand. San Marcos, for example, has 429 active listings, an average price of $531,984, and a median price of $399,990. Homes in San Marcos typically stay on the market for 58 days, with 5.08 months of inventory, placing it firmly in the neutral category. Driftwood also falls into the neutral market category, with 47 active listings, an average price of $1,570,336, and a median price of $1,235,000. Driftwood homes stay on the market for about 53 days, reflecting a balanced demand and supply situation.

Six cities in Central Texas are experiencing a buyers' market, where the months of inventory exceed 7 months. This surplus of available homes often leads to more competitive pricing and longer time on the market. Burnet is a notable example of a buyers' market, with 122 active listings, an average home price of $869,755, and a median price of $697,000. Homes in Burnet typically stay on the market for 80 days, with an inventory lasting 8.13 months. Similarly, Wimberley has 188 active listings, an average price of $1,040,393, and a median price of $650,000. In Wimberley, homes remain on the market for 85 days, with an inventory of 9.64 months, highlighting its status as a buyers' market.

Understanding the real estate market conditions across these Central Texas cities is crucial for both buyers and sellers. Sellers can capitalize on the high demand in sellers' markets, while buyers can take advantage of more favorable conditions in buyers' markets. Meanwhile, those looking at neutral markets will find a balanced environment where neither buyers nor sellers have a distinct advantage.​