AUSTIN, TEXAS ~ July 2024 housing market statistics have been released by the Austin Board of Realtors® (ABoR).
In July the Austin-Round Rock MSA housing inventory level continued to rise to the highest level in more than 13 years.
Let's take a closer look at the year-over-year real estate highlights for the Greater Austin MSA and Williamson County. In the Austin-Round Rock MSA:
Rising Metrics:
Active listings increased by 20.3% to 12,661
Average days on the market increased by 4 days to 63 days
Housing inventory increased by 1 month to 5.1 months. While this is the most available inventory in more than 13 years, it remains below the Texas Real Estate Research Center at Texas A&M University's benchmark of 6 months to maintain a balanced housing market.
Decreasing Metrics:
Closed sales fell by 3.5% to 2,652
The median sales price decreased by 2.8% to $450,000
New listings fell by <1% to 3,812
In Williamson County:
Rising Metrics:
Active listings rose by 16.5% to 3,607
Closed sales increased by 3.8% to 943
New listings increased by 2.4% to 1,263
Average days on the market increased by 6 days to 62 days
Housing inventory rose by .7 months to 4.1 months. As with the greater Austin-Round Rock metro, this is below the Texas Real Estate Research Center at Texas A&M University's benchmark of 6 months to maintain a balanced housing market.
Decreasing Metrics:
The median sales price decreased by <1% to $428,500
What do these metrics indicate for those looking to make a real estate move in the Austin area?
If you're looking to purchase a home or investment property, now is a good time to take advantage of the softer median home price and the highest level of inventory the Austin metro has seen in more than 13 years. If you'd like to speak with my clients who have recently closed or who are under contract, they are happy to share their experience working with me. If you're looking for financing options, I can also connect you with my trusted lending network which can help you explore options - consultations are free!
If you're selling you're in a solid position to make a timely move even though there's increased competition. Contact me and I can provide you with a complimentary, current competitive market analysis for your home. This will help you understand what your home is likely to sell for given the changing dynamics of the Central Texas real estate market.
Ready to make your next real estate move? Connect with me and let's discuss your goals and the current market conditions and set a plan to leverage both to your advantage!
Joe Paul Reider
Home Style Austin Founder Austin Realtor®, CLRA Keller Williams Realty, Inc.
Email: JoePaul@KW.com Mobile: 512-222-3302 Web: JoePaulReider.KW.com
On The Move?
Search, save, collaborate, and more with the Keller Williams App - it's highly rated with 4.8 stars with more than 63K ratings!
Text “KWCP11X” to 87778 to download.
Comments