Jun 152 min read

Austin's May 2024 Real Estate Statistics

AUSTIN, TEXAS ~ May 2024 housing market statistics have been released by the Austin Board of Realtors® (ABoR).

In May the Austin-Round Rock-Georgetown MSA reached the highest level of housing inventory in 13 years after 24 consecutive months of an increased "inventory normalizing" trend.

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-Georgetown MSA:

Rising Metrics:

Active listings increased by 37.7% to 12,211
New listings increased by 16.3% to 5,243
Housing inventory increased by 1.5 months to 4.9 months available. While this is the most available inventory in 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 12.8% to 2,968
The median sales price decreased by <1% to $459,450
Average days on the market dropped by 8 days to 57 days

In Williamson County:

Rising Metrics:

Active listings rose by 34.8% to 3,375
New listings increased by 17.7% to 1,622
Housing inventory rose by 1.2 months to 3.9 available. As with the greater Austin-Round Rock metro, this is still well below the Te xas 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 11.3% to 1,000
The median sales price decreased by <1% to $435,000
Average days on the market decreased by 15 days to 55 days

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 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!