AUSTIN, Texas —In May, closed listings across the Austin-Round Rock-Georgetown MSA decreased 12.8% year-over-year with 2,968 sales. That left 4.9 months of available inventory, which hasn’t been seen in 13 years according to the latest Central Texas Housing Report. Active listings ticked up 37.7% year-over-year. Because of this increase in available options, buyers have the power to be more selective when purchasing a home.
Clare Losey, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS®, provided insight into what this data means for buyers and sellers.
“This data demonstrates that buyers can continue to be more selective when searching for a home in their price range. Although it may appear to be a buyer’s market from the outside, it’s important to understand the context behind these statistics, including higher interest rates resulting in a reduction in purchasing power. This market does not offer a clear advantage to either buyers or sellers.”
Austin real estate news: home sales for the Austin-Round Rock MSA comparing month over month between May 2024 and April 2024
✔ Overall, the median sales price was down (from $469,998) 
✔ Sold units were up (from 2,708)
✔ New listings were up (from 5,131)
✔ Active listings were up (from 10,808)
✔ Pending home sales were down (from 3,161)
✔ Months of inventory were up (from 4.3)
Number of Austin homes for sale plus real estate news market data and statistics by county for the Central Texas Housing Market May 2024: Median Austin home prices and data by county
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.
Austin Real Estate and other Central Texas Housing Market Median Sales Prices for Austin, Georgetown, Round Rock, Leander, Pflugerville, Dripping Springs, Buda, Kyle, Manor, Liberty Hill, and beyond for Single-Family Residential Home Types.
This data combines all residential home types and only lists cities with at least 82 closed sales units to make the top 14.
Sales were up by about 275 units month-over-month of the cities listed in Central Texas with the most sold.
️ Of the cities featured: Georgetown, Hutto, Leander, and Bastrop showed very little shift in median sold prices MoM.
⬇️ Median sales prices were down month-over-month in Manor, San Marcos, and Pflugerville
⬆️ Median sales prices increased MoM for Austin, Buda, Kyle, Liberty Hill, Cedar Park, and Round Rock.
Spring is here. Sales are up, but new listings are up too, and so the inventory remains high. About 34% of the homes that were active on the market in the last 60 days in the city of Austin alone have reduced their original list price. With so many homes trying to keep pace within their local markets, those that don’t will completely miss their intended buyers and find themselves not being priced with comparable homes.
If you see a home and don’t understand why it’s priced so high, look at how long it’s been on the market. It may have been listed and priced for the market months ago. The exception is when homes are priced over $1M, because the buyer pool is inherently smaller, so the market time is typically longer.
Top 15 Central Texas cities with the most home sales
What Central Texas cities had the most home sales in April? Here is a breakdown of the top 15 cities with the most homes sold. All residential home types were included in this report.
Austin, Georgetown, and Round Rock remain in the top 3 slots. Kyle, Texas switched positions compared to April, with the city of Leander moving down to 5th place and Kyle up to the 4th position. Month-over-month as a whole sales units were up slightly.
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Austin real estate news and Austin real estate market data compiled by ACTRIS© Matrix data through the Austin Board of REALTORS®. 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.