AUSTIN, Texas — The latest Austin real estate news includes a first market analysis of the year released by the Austin Board of REALTORS® and shows an increase in residential homes sold, up 4.3% year-over-year to 1,667 closed sales, and an uptick in pending sales, which rose 3.8% to 2,480 listings, according to the latest Central Texas Housing Market Report. The data demonstrates that more options are available for potential homebuyers and sellers are feeling optimistic moving into 2024.
Clare Losey, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS, noted that although still elevated, the recent decline in mortgage rates is contributing to lower home prices and the increase in closed sales activity.
Austin real estate news: home sales for the Austin-Round Rock MSA comparing month over month January 2024 to December 2023
✔ Overall, the median sales price was down (from $443,753)
✔ Sold units were down (from 2,295)
✔ New listings were up (from 1,956)
✔ Active listings were up (from 7,717)
✔ Pending home sales were up (from 2,082)
✔ Months of inventory were up (from 3.0)
“January marks the fifteenth consecutive month of year-over-year median sales price declines in the Austin Round Rock housing market, empowering more homebuyers to enter our market. Mortgage rates peaked in late October before declining in November and December, providing a boost to buyer’s purchasing power, which is borne out in the increase in residential homes sold in January. While there are more options available for homebuyers in our market today, more work needs to be done to ensure more affordable housing is available in Central Texas.”
Losey identified higher mortgage rates as being the biggest constraint for potential homebuyers in 2023 and underscored the lack of housing accessibility, specifically for first-time homebuyers. When looking to 2024, she foresees annual trends to be relatively consistent with this year and mentions that current data is favorable compared to pre-pandemic numbers.
Austin real estate news market statistics by county for the Central Texas Housing Market January 2024: Median Austin home prices by county
Travis County
- 712 – Residential homes sold, 4.9% less than Jan. 2023
- $478,500– Median price for homes, 3.3% less than Jan. 2023
- 1,398– New home listings on the market, 1.1% less than Jan. 2023
- 3,819 – Active home listings on the market, 4.3% more than Jan. 2023
- 1,043 – Pending sales, 4.0% less than Jan. 2023
- 3.4 – Months of inventory, 0.6 months more than Jan. 2023
- $447,677,093 – Total dollar volume of homes sold, 7.8% less than Jan. 2023
Williamson County
- 607 – Residential homes sold, 9.6% more than Jan. 2023
- $429,000 – Median price for residential homes, 2.5% less than Jan. 2023
- 992 – New home listings on the market, 9.5% more than Jan. 2023
- 2,307 – Active home listings on the market, 16.8% less than Jan. 2023
- 897 – Pending sales, 4.5% more than Jan. 2023
- 2.6 – Months of inventory, 0.3 months less than Jan. 2023
- $287,126,634 – Total dollar volume of homes sold, 6.7% more than Jan. 2023
Hays County
- 251 – Residential homes sold, 4.6% more than Jan. 2023
- $366,140 – Median price for residential homes, 11.8% less than Jan. 2023
- 450 – New home listings on the market, 8.4% more than Jan. 2023
- 1,281 – Active home listings on the market, 0.4% less than Jan. 2023
- 383 – Pending sales, 10.7% more than Jan. 2023
- 3.7 – Months of inventory, 0.1 months more than Jan. 2023
- $117,387,841– Total dollar volume of homes sold, 0.6% more than Jan. 2023
Bastrop County
- 81 – Residential homes sold, 58.8% more than Jan. 2023
- $366,018 – Median price for residential homes, 4.6% more than Jan. 2023
- 183 – New home listings on the market, 33.6% more than Jan. 2023
- 454 – Active home listings on the market, 3.8% less than Jan. 2023
- 118 – Pending sales, 45.7% more than Jan. 2023
- 4.5 – Months of inventory, 0.2 months less than Jan. 2023 and the highest inventory in the MSA.
- $32,822,238– Total dollar volume of homes sold, 60.8% more than Jan. 2023
Months of inventory are calculated by dividing the number of homes listed for sale by the average number of homes sold per month within 12 months.
Central Texas Housing Market Median Single-Family Home Sold Prices for Austin, Georgetown, Round Rock, Leander, Pflugerville, Cedar Park, Buda, Kyle, Hutto, Liberty Hill and beyond. 
This data combines all residential home types and only lists cities with at least 29 closed sales units to make the top 14.
❄️ Sales units were down by about 400 combined in January over December of the cities listed in Central Texas with the most sales.
️ Of the cities featured, Hutto and Kyle showed very little shift in median sold prices month-over-month.
⬇️Median sales prices were down in Austin, San Marcos, Buda, Bastrop and Liberty Hill and Pflugerville.
⬆️Median sales prices increased MoM for Leander, Georgetown, Round Rock, Manor and Jarrell.
This is the first time I noticed Leander have a higher median home price than Austin. This is a seasonably slow time of year. While sale units are down, pending sales seem to be up. The rise in pending sales in January is due to a combination of factors including homes that went under contract in January, re-sale homes that went under contract in December but had longer closings due to the holidays, and newly built homes that were pushing for last minute sales but weren’t ready to actually close.
Central Texas Market l New Homes for Sale in Austin and other cities that fall within the counties of Travis, Williamson and Buda 12-month snapshot.
How’s the Central Texas housing market? It is the closest data that we may get to resemble a buyer’s market. Sales are slow, which lends to some negotiation. Supply gets a boost this time of year with some homes returning to the market after taking a break over the holidays.
️ By the numbers, the Austin Round Rock metro has been hovering between 3 and 5 months of inventory which is still leaning towards being a sellers’ market.
We are in a sellers’ market by the numbers, but we are moving at the speed of a buyers’ market. We have a decent supply, but little demand. Austin home prices have affected entry into the market for first-time home buyers. Interest rates have demotivated move-up buyers who are locked in at historically low rates. Even sellers stepping down are taking their time because either their homes aren’t under contract, or they haven’t found anything based on the limited inventory in some areas.
❄️This real estate season can prove to be an ideal market for:
️Investors because prices tend to be a little softer this time of year
Homes that need a little TLC and want to stand out more with less competition.
️Homebuyers who want the least amount of competition possible. Fewer buyers can mean more negotiable sellers. The market moves slower this time of year giving people time to think.
️Building a home: builders are still offering buy-downs, upgrades and flex cash.
This market can be a gift for those who have the time.
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Austin real estate market data compiled by ACTRIS© Matrix data through ABoR. Information deemed reliable but not guaranteed and should be verified. Content is “AS IS,” without any warranty, express or implied. Results were calculated from the number of listings in the MLS at the date of the report. Off-market data not included.