Real Estate Sales Analysis for Austin and Surrounding Cities

Published 06/05/2024 | Posted by Dan Price

Over the past year, the Austin-area real estate market has experienced significant fluctuations in the number of properties sold. By analyzing monthly sales data from May 2023 to May 2024, we can gain valuable insights into the market trends affecting various cities in the region.

In Austin, the number of properties sold showed a notable decrease from 1196 in May 2023 to 1026 in May 2024, marking a 14% year-over-year decline. This downward trend was not isolated to Austin alone. Nearby cities like Cedar Creek also saw a reduction in sales, with numbers dropping from 20 in May 2023 to 16 in May 2024, reflecting a 20% decrease.

Conversely, some cities experienced growth in property sales. Bastrop, for instance, saw an increase from 76 properties sold in May 2023 to 88 in May 2024, a 16% rise. Similarly, Jarrell showed a positive trend with a 31% increase, jumping from 68 properties sold in May 2023 to 89 in May 2024.

The data also highlights significant variations in smaller communities. Driftwood's property sales surged by 38%, moving from 8 sales in May 2023 to 11 in May 2024. On the other hand, Del Valle faced a steep decline of 26%, with sales dropping from 19 in May 2023 to 14 in May 2024.

Other notable trends include Cedar Park, which saw a modest increase of 3% in property sales, and Pflugerville, which experienced a sharp decline of 43%, dropping from 173 sales in May 2023 to just 98 in May 2024. Meanwhile, Dripping Springs enjoyed an 11% increase in sales, moving from 53 in May 2023 to 59 in May 2024.

The year-over-year differences varied significantly across the region. Lockhart emerged as a standout with a 45% increase in sales, climbing from 29 in May 2023 to 42 in May 2024. In contrast, Leander witnessed a substantial drop of 30%, with sales falling from 194 in May 2023 to 135 in May 2024.

Georgetown also saw a decline, with sales decreasing by 16%, from 303 in May 2023 to 255 in May 2024. Smaller communities like Manchaca and Marble Falls reported increases of 33% and 100%, respectively, showcasing the diverse real estate landscape in the Austin area.

The overall trend across the region indicates a mixed market with some areas experiencing growth while others face declines. The average year-over-year difference in properties sold across all cities was -3.9%, reflecting the varied performance in the real estate sector.

Understanding these trends is crucial for buyers, sellers, and real estate professionals navigating the Austin-area market. By staying informed about the latest data, stakeholders can make more informed decisions and better anticipate market shifts. This article is based on data published on June 05, 2024. Real estate statistics are constantly evolving. For the most current data and analysis, please refer to the following resources, updated weekly: Sales Density: Population and Realtors

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