Austin Real Estate Market Update
It's time for our monthly deep dive into the latest happenings in Austin's real estate market. The landscape has seen some intriguing shifts since last year, and we're here to break it down for you.
Inventory and Months of Supply : Last year, the total number of active listings in the Austin-Area MLS was 12,939. Today, that number has slightly decreased to 12,415. However, the Months of Inventory has increased from 3.96 months to 4.81 months, marking a 1.2x increase. This indicates that the market is becoming more balanced, offering more options for buyers.
Pricing Dynamics : The average list price for active homes in the Austin-Area MLS is now $677,189, up by 2.23% year over year. The average sold price this month stands at $656,535, showing a significant 13.08% increase compared to last year. However, the median sold price has slightly decreased by 2.15% to $450,000.
City-Wide and Regional Trends : In the City of Austin, the median sold price has seen a marginal increase of 0.1% year over year. When looking at the 30 cities in Central Texas, 43% have seen a month-over-month price increase, while 57% have experienced a decrease. The same percentages apply to year-over-year changes as well.
Zip Code Analysis : Out of the 75 zip codes in Central Texas, 39% have seen a month-over-month price increase, while 48% have seen a decrease. Year over year, 36% of zip codes have experienced a price increase, and 64% have seen a decrease.
Sales vs List Prices : About 65.58% of all sold properties this month were under the list price, a slight increase from last month's 64.39%. Meanwhile, 22.46% sold at the list price, and 11.96% sold over the list price.
Conclusion : The Austin real estate market continues to be dynamic, with both opportunities and challenges for buyers, sellers, and investors. Whether you're looking to buy, sell, or invest, staying updated with the latest market trends is crucial for making informed decisions. For a more detailed analysis, we encourage you to explore our 500+ pages of comprehensive market statistics for the Austin area below.
