Austin Real Estate News – In March, new home listings across the Austin-Round Rock-Georgetown MSA jumped to 4,714 new listings, 10.2% more than March 2023, leading to multiple markets reaching four months of inventory, according to the latest Central Texas Housing Report. The data indicates that homeowners have confidence in their ability to sell their homes for good value while buyers now have a larger selection of home options, helping to keep price growth flat.
Clare Losey, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS®, noted that the increase in monthly inventory is a sign of a healthier and robust housing market.
“The current housing market is more favorable for first-time homebuyers, with an uptick in new listings for the lowest priced homes. More inventory means more options tailored to buyers’ specific needs and interests, allowing them more personalization and choice of location when looking for their new home. It’s great to see the stability of the current market in the first quarter of 2024.”
Austin real estate news: home sales for the Austin-Round Rock MSA comparing month over month between March 2024 and February 2024
✔ Overall, the median sales price were fairly flat (from $443,065)
✔ Sold units were down (from 2,144)
✔ New listings were up (from 3,915)
✔ Active listings were up (from 7,991)
✔ Pending home sales were up (from 1,920)
✔ Months of inventory were up (from 3.0)
Austin real estate news market statistics by county for the Central Texas Housing Market March 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 Single-Family Residential Home Sales Prices for Austin, Georgetown, Round Rock, Leander, Pflugerville, Dripping Springs, Buda, Kyle, Manor, Liberty Hill and beyond.
This data combines all residential home types and only lists cities with at least 53 closed sales units to make the top 14.
Sales were up by over 350 homes in March compared to February of the cities listed in Central Texas with the most sold.
️ Of the cities featured: Kyle and Buda showed very little shift in median sold prices month-over-month.
⬇️ Median sales prices were down month-over-month in Round Rock, Pflugerville, Hutto, and Jarrell.
⬆️ Median sales prices increased month-over-month for Austin home prices in addition to Georgetown, Leander, Liberty Hill, Manor, San Marcos, and Bastrop.
Dripping Springs returned to the 14th position, after dipping a bit in February.
New listings continued to trend higher over the last 3 weeks along with price decreases across Travis, Williamson, and Hays counties. Some homeowners are finally willing to part the historically low-interest rates they locked in 4 years ago. Home builders are still offering a variety of incentives, including rate buy-downs, flex cash, and upgrades. Spring is here in Central Texas Real Estate and summer is already knocking.
What Central Texas cities had the most home sales in March?
What Central Texas cities had the most home sales in March? Here is a breakdown of the top 14 cities with the most homes sold. All residential home types were included in this report.
Austin, Georgetown, Round Rock, and Leander remain in the top 4 slots. Dripping Springs landed in the 14th slot with 53 sales in March.
City of Austin Real Estate Market: Breakdown of Austin Home Prices for the First Quarter of 2024
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Compared to Q1 of 2023 (YoY)
⬆ Cash buyers were up in Q1 2024
Residential sales over list price were about the same
Days on the market were about the same
Compared to Q4 of 2023 (previous quarter)
Cash buyers are about the same
⬆ Residential sales over list price were up
Days on the market were about the same
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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.