Is Austin, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Austin was a Seller's Market.
Housing Prices in Austin, TX
How much do homes in Austin, TX cost?
Median Sold Price
$568,825
$311/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Austin was $568,825 in March 2024, down 4.5% from last year, and the median price per square foot was $311.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $338.8K | $300.3K | -11.4% |
2 Bedrooms | $474.5K | $425K | -10.4% |
3 Bedrooms | $571K | $505.7K | -11.4% |
4 Bedrooms | $745.5K | $724.1K | -2.9% |
5+ Bedrooms | $1.1M | $1.1M | +7.2% |
Summary: Austin housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.4%, 2 bedroom homes decreased by 10.4%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes increased by 7.2%.
Median Sold Price Compared To Nearby Cities
Austin | $595.6K | $568.8K | -4.5% |
West Lake Hills | $2.6M | $1.8M | -29.3% |
Housing Supply in Austin, TX
How many homes are available in Austin, TX?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4,204 | 5,098 | +21.3% |
Summary: The Austin real estate market had 5,098 homes for sale in March 2024, a 21.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 208 | 284 | +36.5% |
2 Bedrooms | 682 | 832 | +22.0% |
3 Bedrooms | 1,656 | 1,959 | +18.3% |
4 Bedrooms | 1,216 | 1,456 | +19.7% |
5+ Bedrooms | 442 | 567 | +28.3% |
Summary: The Austin housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 36.5%, 2 bedroom homes increased by 22%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 19.7%, and 5+ bedroom homes increased by 28.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
730 | 812 | +11.2% |
Asking Price vs. Sold Price
503 Homes Were Sold
Under Asking
150 Homes Were Sold
At Asking
159 Homes Were Sold
Over Asking
Summary: A total of 812 homes were sold or pending in Austin in March 2024, up by 11.2% month-over-month. Of the 812 sold homes, 62% were sold under asking, 18% were sold at asking, and 20% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
59 Days | 56 Days | -5.1% |
Summary: Homes in Austin had an average of 56 days on market in Mar 2024, down by 5.1% compared to last year.
Breakdown of Home Sale Times
434 Homes Were Sold
Under 30 Days
179 Homes Were Sold
In 30 - 90 Days
199 Homes Were Sold
Over 90 Days
Summary: During March 2024, 812 homes were sold in Austin; 53% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.