Is Austin, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Austin is a neutral'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

# BEDSFeb 2023Feb 2024CHANGE
1 $345K$301K
-12.7%
2 $477.5K$425K
-11.0%
3 $579K$510.1K
-11.9%
4 $753K$717.8K
-4.7%
5+ $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

West Lake Hills
-4.3%
Austin
-5.1%

Housing Supply in Austin, TX

How many homes are available in Austin, TX?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3,6194,390+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

# BEDSJan 2024Feb 2024CHANGE
1 180235
+30.6%
2 577729
+26.3%
3 1,4391,712
+19.0%
4 1,0551,254
+18.9%
5+ 368460
+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 2024Feb 2024CHANGE
537647+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

Asking vs Sold - buyer

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 2023Feb 2024CHANGE
67 Days76 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

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