AUSTIN, Texas — Real estate experts are calling the housing market in Austin "optimistic."
Unlock MLS released its January market analysis on Wednesday. It shows the median home sales price in the Austin-Round Rock area dropped about 4% to $430,000. At the same time, residential home sales increased by about 4% compared to the year before.
A housing economist for Unlock MLS and the Austin Board of Realtors (ABoR) said although mortgage rates are still elevated, a recent decline is leading to lower home prices and an increase in closed sales.
“January marks the 15th consecutive month of year-over-year median sales price declines in the Austin-Round Rock housing market, empowering more homebuyers to enter our market,” said Clare Losey. “Mortgage rates peaked in late October before declining in November and December, providing a boost to buyer’s purchasing power, which is borne out in the increase in residential homes sold in January. While there are more options available for homebuyers in our market today, more work needs to be done to ensure more affordable housing is available in Central Texas.”
Austin Round-Rock MSA
- 1,667 – Residential homes sold, 4.3% more than January 2023.
- $430,000 – Median price for residential homes, 4.4% less than January 2023.
- 3,064– New home listings on the market, 5.1% more than January 2023.
- 7,976– Active home listings on the market, 3.6% less than January 2023.
- 2,480 – Pending sales, 3.8% more than January 2023.
- 3.2 – Months of inventory, 0.2 months more than January 2023.
- $892,581,695– Total dollar volume of homes sold, 0.1% less than January 2023.
City of Austin
- 520 – Residential homes sold, 0.6% less than January 2023.
- $534,500 – Median price for residential homes, 2.8% less than January 2023.
- 979 – New home listings on the market, 4.8% less than January 2023.
- 2,691 – Active home listings on the market, 7.7% more than January 2023.
- 788 – Pending sales, 0.6% more than January 2023.
- 3.2 – Months of inventory, 0.7 months more than January 2023.
- $348,321,203– Total dollar volume of homes sold, 7.3% less than January 2023.
Travis County
- 712 – Residential homes sold, 4.9% less than January 2023.
- $478,500– Median price for residential homes, 3.3% less than January 2023.
- 1,398– New home listings on the market, 1.1% less than January 2023.
- 3,819 – Active home listings on the market, 4.3% more than January 2023.
- 1,043 – Pending sales, 4.0% less than January 2023.
- 3.4 – Months of inventory, 0.6 months more than January 2023.
- $447,677,093 – Total dollar volume of homes sold, 7.8% less than January 2023.
Williamson County
- 607 – Residential homes sold, 9.6% more than January 2023.
- $429,000 – Median price for residential homes, 2.5% less than January 2023.
- 992 – New home listings on the market, 9.5% more than January 2023.
- 2,307 – Active home listings on the market, 16.8% less than January 2023.
- 897 – Pending sales, 4.5% more than January 2023.
- 2.6 – Months of inventory, 0.3 months less than January 2023.
- $287,126,634 – Total dollar volume of homes sold, 6.7% more than January 2023.
Hays County
- 251 – Residential homes sold, 4.6% more than January 2023.
- $366,140 – Median price for residential homes, 11.8% less than January 2023.
- 450 – New home listings on the market, 8.4% more than January 2023.
- 1,281 – Active home listings on the market, 0.4% less than January 2023.
- 383 – Pending sales, 10.7% more than January 2023.
- 3.7 – Months of inventory, 0.1 months more than January 2023.
- $117,387,841– Total dollar volume of homes sold, 0.6% more than January 2023.
Bastrop County
- 81 – Residential homes sold, 58.8% more than January 2023.
- $366,018 – Median price for residential homes, 4.6% more than January 2023.
- 183 – New home listings on the market, 33.6% more than January 2023.
- 454 – Active home listings on the market, 3.8% less than January 2023.
- 118 – Pending sales, 45.7% more than January 2023.
- 4.5 – Months of inventory, 0.2 months less than January 2023 and the highest inventory in the MSA.
- $32,822,238– Total dollar volume of homes sold, 60.8% more than January 2023.
Caldwell County
- 16 – Residential homes sold, 220.0% more than January 2023.
- $303,990– Median price for residential homes, 9.3% less than January 2023.
- 41 – New home listings on the market, 6.8% less than January 2023.
- 115 – Active home listings on the market, 36.9% more than January 2023.
- 39 – Pending sales, 105.3% more than January 2023.
- 3.7 – Months of inventory, 0.2 months more than January 2023.
- $7,567,890– Total dollar volume of homes sold, 363.3% more than January 2023.
Boomtown is KVUE's series covering the explosive growth in Central Texas. For more Boomtown stories, head to KVUE.com/Boomtown.