Austin Texas real estate active homes for sale across the Austin-Round Rock-Georgetown MSA increased 9.3% to 11,599 listings. That brought the months of available inventory to 5.1 months of inventory, up 0.5 months more compared to October 2023, according to the latest Central Texas Housing Report. The data coupled with the average close-to-list price ratio hovering at 92.7% indicates that buyers have more options to purchase a home they can afford in a high interest-rate environment while sellers still have some room to negotiate. 
Clare Losey, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS®, noted that the biggest factor affecting home sales continues to be mortgage rates.
“Mortgage rates averaged 6.4% in October with signs pointing to them remaining in the low-to mid-6% range as we head into 2025, even with the Fed’s second rate cut last week. Buyers waiting on the sidelines for rates to drop significantly may be in for a long wait. In the meantime, sellers must recognize that bringing buyers to the table requires a more aggressive pricing approach. Even in a more balanced market, buyers with limited purchasing power are struggling to meet current price expectations.”
Austin real estate market: home sales for the Austin-Round Rock MSA comparing month over month between October 2024 and September 2024
✔ Overall, the median sales price was up ($425,000) 
✔ Sold units were down slightly (from 2,286)
✔ New listings were down (from 3,545)
✔ Active listings were down (from 12,153)
✔ Pending home sales were down (from 2,344)
✔ Months of inventory were down (from 5.1)
Number of Austin homes for sale plus real estate news market data and statistics by county for the Central Texas Housing Market October 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 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.
The median home price data below for Central Texas cities combines all residential home types and only lists cities with at least 50 closed sales units to make the top 14.
️Month-over-month total sales were down ~170 units for the cities in Central Texas with the most sold homes.
Top 15 Central Texas cities with the most home sales
What Central Texas cities had the most home sales in October? The breakdown above shows 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.
How are Austin homes for sale selling and who’s buying by zip code?
Month over month, sales were similar to September (469 vs. 444) of the zip codes presented.
️The high count of average days on the market (of the zip codes listed) was 121, in zip code 78756, which is in Central Austin.
The zip code 78751 had the lowest days on the market at 25 (Hyde Park area in Central Austin).
➡️ Active listings were flat in October comparing month-over-month (2,754 vs 2,957)
⬇️ New listings were down in October: 747 vs. 805 in August.
Most zip codes on the list had double-digit sales. The zip code with the most sales (40) was 78748, located in South Austin.
My thoughts? It is very slow. That’s good news for those who can take advantage of it. With new listings down and sales the same, some of the existing inventory is moving.
Mortgage interest rates haven’t been very consistent but it is important to remember they are local – down to the buyer applying. What you see on the news are often national rates, and can vary greatly based on an individual’s own credentials.
This is a great time to be a buyer due to the amount of choices that are out there. The demand is low and the supply is high enough. As a homebuyer – this is what you want to see. Sellers can take advantage of this market too with the right mindset when it comes to pricing and expectation. Homeowners who have owned their home for more than 6 years most likely have equity to help them move on. The challenge for first time home buyers is that it is hard to gain entry into homeownership due to the lack of a down payment.
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Austin real estate news, specifically Austin real estate market data and Austin homes for sale numbers are 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.