Is Austin, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Austin was a Seller's Market.
Key Takeaway
Austin is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Austin, TX
How much do homes in Austin, TX cost?
Median Sold Price
$569,674
$311/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
-$30,608(-5.1%)
Key Takeaway
Homes in Austin have sold for 5.1% less than they did a year ago.
Summary: The median home sold price in Austin was $569,674 in February 2024, down 5.1% from last year, and the median price per square foot was $311.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $345K | $301K | -12.7% |
| 2 Bedrooms | $477.5K | $425K | -11.0% |
| 3 Bedrooms | $579K | $510.1K | -11.9% |
| 4 Bedrooms | $753K | $717.8K | -4.7% |
| 5+ Bedrooms | $1.1M | $1.1M | + 4.5% |
Summary: Austin housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.7%, 2 bedroom homes decreased by 11%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
| CITY | Feb 2023 | Feb 2024 | CHANGE |
|---|---|---|---|
| West Lake Hills | $2.3M | $2.2M | -4.3% |
| Austin | $600.2K | $569.6K | -5.1% |
Housing Supply in Austin, TX
How many homes are available in Austin, TX?
Number of Homes For Sale
| Jan 2024 | Feb 2024 | CHANGE |
|---|---|---|
| 3,619 | 4,390 | +21.3% |
Summary: The Austin real estate market had 4,390 homes for sale in February 2024, a 21.3% increase compared to January 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 180 | 235 | + 30.6% |
| 2 Bedrooms | 577 | 729 | + 26.3% |
| 3 Bedrooms | 1,439 | 1,712 | + 19.0% |
| 4 Bedrooms | 1,055 | 1,254 | + 18.9% |
| 5+ Bedrooms | 368 | 460 | + 25.0% |
Summary: The Austin housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 30.6%, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Jan 2024 | Feb 2024 | CHANGE |
|---|---|---|
| 537 | 647 | +20.5% |
Asking Price vs. Sold Price
439 Homes Were Sold
Under Asking
109 Homes Were Sold
At Asking
99 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Austin, you may be able to get a good deal. 67.9% of homes here sold below asking price last month.
Summary: A total of 647 homes were sold or pending in Austin in February 2024, up by 20.5% month-over-month. Of the 647 sold homes, 68% were sold under asking, 17% were sold at asking, and 15% were sold over asking.
Days on Market for Austin, TX
How long does it take to sell a home in Austin, TX?
Average Sale Time
| Feb 2023 | Feb 2024 | CHANGE |
|---|---|---|
| 67 Days | 76 Days | +14.3% |
Summary: Homes in Austin had an average of 76 days on market in Feb 2024, up by 14.3% compared to last year.
Breakdown of Home Sale Times
234 Homes Were Sold
Under 30 Days
192 Homes Were Sold
In 30 - 90 Days
221 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Austin are selling fast, if you're buying plan to act quickly.
Summary: During February 2024, 647 homes were sold in Austin; 36% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.
Report Updated 20 Days Ago
