Weekly Austin-Area Real Estate Statistics

Austin's Real Estate Market: Record Highs in List Price and Months of Inventory

The Austin-area real estate market is continuing to make headlines with record-breaking numbers. According to recent statistics, the average list price for residential listings in the city of Austin has reached a new record high of $1,015,841. This is a significant increase from the average list price of $882,343 just one year ago.

The Austin-area MLS currently has 10,431 active listings with a months of inventory rate of 3.73, which is an increase from 1.82 months of inventory at this time last year. In the City of Austin, there are 3,138 active listings with a months of inventory rate of 4.06, a 2.7x increase from last year.

While the average list price for active homes in the Austin-Area MLS has increased by 2.31% year over year, the average sold price has decreased by 13.83% to $573,538. The median sold price in the area is $450,000, which is a decrease of 16.36% from the previous year. Similarly, the median sold price in the City of Austin has decreased by 11.9% to $599,000.

One notable statistic is the difference between the average list price and average sold price, which has hit a new record high of $262,898. 

Looking at other areas in Central Texas, 70% of the 30 cities analyzed experienced a month-over-month price increase, while 30% saw a decrease. When comparing year-over-year prices, 27% of the cities had an increase, while 73% had a decrease. Year to date, 20 cities have gone up in median price while nine have gone down.

In the past 12 months, three cities have gone up in price, while 27 have decreased. Similarly, when looking at the 75 zip codes in Central Texas, 47% experienced a month-over-month price increase, while 52% saw a decrease. Only 19% of zip codes had a year-over-year price increase, while 81% had a decrease.

Finally, looking at properties that sold at, over, and under the list price, 61.16% of all sold properties in the Austin-area sold under the list price this month, while 20.83% sold at list price and 18.01% sold over the list price. This is a change from January 2023, where only 9.76% of all sold properties were above list price.

Overall, the Austin-area real estate market is still experiencing changes, with record-high list prices and an increase in inventory. It will be interesting to see how these trends continue to play out in the coming months.​