Following January's optimistic upturn in the Austin-Round Rock housing market, housing opportunities soared in February with the addition of more than 3,900 new listings to the market, according to the latest report from the Austin Board of Realtors (ABoR) and Unlock MLS.
The influx of new listings created a near 45 percent jump in inventory year-over-year from February 2023, creating greater possibilities for first-time homebuyers in the Austin area. A significant number of affordable homes were put up for sale in February — specifically homes under $400,000 — adding to the growing list of wins for potential buyers, says Unlock MLS and ABoR housing economist Clare Losey, Ph.D.
"Higher home prices and mortgage rates have diminished affordability for first-time homebuyers over the past few years, but February provided encouragement for these aspiring homeowners," said Losey. "The increase in housing options presents a promising opportunity for Central Texans who want to become homeowners."
As Central Texas heads into the typical busy spring homebuying season, 2024 Unlock MLS and ABoR president Kent Redding says the period from March to June is when more than 35 percent of annual sales are made.
"Buyers are keen on securing homes before the fall and the upcoming school year in August, drawn out by the enhanced curb appeal and favorable weather conditions," Redding said.
Central Texas housing trends in January 2024
More than 2,100 homes were sold in February across the Austin-Round Rock-Georgetown MSA, with median prices increasing 1.2 percent from last year to $443,065. There were 7,991 active home listings on the market, which is 5.5 percent less than this time last year.
In Travis County, 953 homes were sold last month, in a slight 1.1 percent uptick from February 2023. Median prices stood at an even $500,000. There were 3,920 active listings on the market, nearly 13 percent more year-over-year.
Over in Williamson County, 777 homes were sold last month, with median prices at $423,000. There were 1,172 new home listings on the market, representing a massive 41.7 percent jump from February 2023, bringing the total number of active home listings to 2,234.
Unlike Travis and Williamson counties, Hays County saw a 6.5 percent decrease in residential homes sold in February. Only 290 homes were sold last month, and median prices dipped 1.3 percent to $385,000. Active listings rose 8.1 percent year-over-year to 1,289 with the addition of 549 new home listings on the market.
Home sales in Bastrop County went up 7 percent when compared to this time last year, with 92 total homes sold. Median prices decreased 7.2 percent year-over-year to $351,875. There were 420 active listings on the market in February, and 160 new home listings.
Caldwell County homes sold for a median price of $299,900 in February. A total of 31 homes were sold, continuing a dramatic increase from the previous year, at 93.8 percent. There were 126 active homes on the market, supplemented by a 137.5 percent jump in new home listings, amounting to 76 homes.
