Market conditions in Austin, Texas

[Peter Vargas]

The median price of a home across Austin-Round Rock-San Marcos was approximately $425,000 for a single family detached home in Q4 2024, which was down by 6.6 percent from August, 2024. The good news, however, is that there is a little more housing inventory on the market, with approximately 5.9 months on the market, consisting of more than 12,000 active listings, 20 percent of which are pending sales. Unlock MLS reports that most homes sell in about 79 days, which is about 10 days more than 2023's piping hot market. While it remains a competitive market and many homes receive multiple offers and sell above their list price, there is opportunity for buyers as interest rates decline. In fact, the close to list price, which compares the actual price buyers pay to the price sellers set for their property, was 92.8 percent, almost 8 percent below the full list price.