The latest real estate report from Unlock MLS and the Austin Association of Realtors (ABoR) found that the number of active residential listings in the Austin metropolitan area increased significantly in June, remaining at a high level for the third consecutive month since April, while median sales prices fell to accommodate the increased inventory.
In its June report, Unlock MLS refers to the Central Texas region as the Austin-Round Rock-San Marcos Metropolitan Statistical Area (MSA), but it was previously known as the Austin-Round Rock-Georgetown MSA.
The data shows that home sales across the Austin-Round Rock-San Marcos MSA were down 13.4 percent, with just 2,732 homes sold in June for an average price of $450,000. There were more than 13,200 active residential listings on the market last month, with 4,364 new listings.
Claire Knapp, a housing economist with Unlock MLS and ABoR, said the decline in sales was due to stubborn sellers who were refusing to budge on their home prices, which exacerbated the barriers to homebuying for buyers.
“For buyers, the recent surge in active listings and homebuying constraints for middle-income buyers mean they are choosing to be more cautious when purchasing a home,” Knapp said. “The market will continue to regain stability in the second half of the year, which indicates the need for both buyers and sellers to remain agile and work closely with their real estate agents to identify and negotiate the best options.”
Central Texas Housing Trends for June 2024
in Travis County6,830 homes sold last month, down about 5 percent from last year. The median price fell to $520,000. The number of homes currently for sale continued to increase, to 6,276, up about 30 percent from last year.
it’s over Williamson CountyJust 945 homes sold in June, with the average price dropping to $434,000, just $1,000 lower from May. There were 1,357 new residential listings on the market, down just 2% from June 2023, bringing the total number of active residential listings to 3,727.
Home sales increased 1.7%. Hays County There were 413 sales in June. The average price was $391,775, down about 8% from last year. The number of active properties increased 20.4% from last year to 1,908, with 623 new properties on the market.
111 homes sold Bastrop County Last month, prices were up just 1.5% compared to the same time last year. The median price was down nearly 10% year-over-year to just under $340,000. June saw a second consecutive month with 633 active listings on the market and 198 new homes listed for sale, a 26.9% increase in new inventory compared to last year.
Only 57 homes were sold. Caldwell County While June’s home sales were only one more than May’s total, they technically jumped 45% year-over-year from June 2023. Those 57 homes sold for an average of $300,000, up 7.1% from last year. The number of homes on the market was zero last month, but 61 new homes were added to the market for the second consecutive month.
Central Texas housing trends for the first half of 2024
According to the report, more than 15,000 homes sold in the Austin-Round Rock-San Marcos area in the first half of 2024, just 1.8% fewer than the first half of 2023. The average price of these homes was $450,000, down 2.2% from the same period last year. Active listings in the first half of 2024 increased 15.5% year over year to 63,005 homes, offset by 26,398 new home listings added in the past six months.
Kent Redding, president of 2024 ABoR and Unlock MLS, offered advice to Austin residents looking to buy or sell in the remaining six months of the year, emphasizing the need for flexibility to navigate the housing market.
“Homes are selling for 96.4 percent of their original asking price, and the homes that are selling are selling because they look good and are priced appropriately,” Redding says. “Price and appearance are the two most important factors in a successful sale, but time on the market can be a major negative factor. Now is the time for buyers to expand their options and make a competitive offer in this high inventory environment.”
Travis County housing data year to date
- 6,830 – Home sales, down 4.8% from the first half of 2023.
- $520,000 – Average home price, up 0.1% from the first half of 2023.
- 12,981 – The number of new homes on the market. An 11.2% increase from the first half of 2023.
- 31,533 – Number of active residential listings on the market, up 21.4% from the first half of 2023.
Williamson County housing data from the start of the year
- 5,254 – Home sales, down 3.9% from the first half of 2023.
- $430,000 – Average home price, 1.6% lower than the first half of 2023.
- 8,051 – The number of new homes on the market, up 14.8% from the first half of 2023.
- 17,613 – Number of active residential listings on the market, up 5.7% from the first half of 2023.
Hays County housing data year to date
- 2,202 – Home sales, up 5.7% from the first half of 2023.
- $385,000 – Average home price, 3.8% lower than the first half of 2023.
- 3,783 – The number of new homes on the market. This is a 28.1% increase from the first half of 2023.
- 9,703 – Number of active residential listings on the market, up 16.2% from the first half of 2023.
Bastrop County Housing Data for the Year
- 661 – Number of home sales. Up 12.0% from H1 2023.
- $360,000 – Average home price, 5.2% lower than the first half of 2023.
- 1,206 – The number of new homes on the market. This is a 29.8% increase from the first half of 2023.
- 3,295 – The number of active residential listings on the market, up 12.4% from the first half of 2023.
Year to date data Caldwell County It was not given.
