Austin Market Report - April 2025
The April 2025 report from the Austin Board of REALTORS® shows fairly stable pricing in the face of softening buyer demand compared to the previous spring selling season. Here are some key highlights from the report, which compares April 2025 with April 2024:
- The median sales price for the greater Austin metro was down 3.2% at $450,000, while the City of Austin rose 1.6% to $595,000. This continues the stable pricing pattern we’ve seen for some time now, despite steadily increasing inventory.
- Total closed sales in the metro fell 13.8%, with the city itself seeing a 15.9% decrease in closed sales. This is a noteworthy drop in activity for the traditional spring selling season and could represent buyers grappling with broader economic uncertainty.
- Pending sales under contract were stable, with Austin and the greater metro up around 1-2%. This indicates some resiliency in the face of rising inventory.
- Active listing inventory increased 19.7% in the metro and a significant 23.1% in the City of Austin. With current demand, that puts that market at around 6 months of available housing inventory in both the city and greater metro. So, there are significantly more homes on the market now compared to last year.
- According to the Texas A&M Real Estate Center, a balanced real estate market has around 6.5 months of inventory. The Austin area had 5-6 months of inventory for most of the past year.
Here are the April 2025 stats for Austin and the greater metro:
Here’s a chart showing the median sales price of a single-family home in the City of Austin in over the past year:
The median sales price for a single-family home in April 2025 was unchanged from a year ago in Austin, with a year-over-year increase of ~0.7%.
For some broader context, here’s a chart of the median sales price of a single-family home in Austin over the past 10 years:
Compared to the recent price peak in May 2022, the median single-family home price in Austin is down approximately 14%. However, pricing in Austin is still substantially above pre-pandemic levels. In fact, the median sales price of a single-family home in the Austin metro is about 55% higher than it was at the start of 2020. For the 10 year period spanning April 2015-2025, the median single-family home price rose at an annualized rate of 8.2%.
I’m now also sharing leasing stats in my monthly updates. Here are the numbers for the City of Austin and the greater Austin metro area:
A 30-year fixed rate mortgage is at around 6.9% interest, which is very slightly down from the 7.3% high seen over the past year:
For some broader context, here’s a chart for 30-year fixed mortgage rates over the past 5 years:
What if I’m a buyer? This is the best market for buyers in Austin in many years. There are more listings to choose from now than any other time in nearly a decade. Listings are selling for roughly 95% of their list price on average. Competitive multiple offers situations are rare. Buyers have more negotiating power. They can take time with their search and be more selective about a property’s location and condition. So, if interest rates are a buyer’s primary roadblock, then I recommend negotiating a seller-paid rate buydown or looking at new construction, where builders are offering rate reductions and other substantial incentives. You will face more competition from fellow buyers as we continue through the spring. So far, though, spring buyer demand isn’t matching the increase we’re seeing in inventory.
What if I’m a seller? There is still strong demand for Austin area housing and pricing has been stable. Unless you bought in the past few years, you are likely sitting on good, or maybe even substantial, equity in your home. However, it’s important to price competitively and be prepared for buyers to request concessions. Days on market are averaging around 76 days in the greater metro. Many listings are adjusting their asking price at least once while on the market. But properties priced and marketed appropriately can still go under contract in a matter of days. Now is not the time to “test the market” with an ambitious price to “see what happens.” With the increased competition among sellers, it’s crucial to prepare your property to stand out and work to address obvious buyer objections prior to going on market.