Austin, TX
Housing Market
Austin's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Austin's supply and demand trends. Our report equips you with the information needed to make well-informed decisions.
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Buy or SellAustin Housing Market Overview
The real estate trends in Austin indicate a relatively less competitive market in recent months. The median home price in Austin, TX, has increased by only 0.43% compared to last year, and reached $520,000. Properties typically stay on the market for 89 days before going under contract. Additionally, this month saw 579 home sales, with a projected increase in the coming months.
The housing market in Austin is a mix of luxury high-rise condos and single-family homes, with options across budgets and lifestyles. Austin's real estate market drives Texas' economy up with its contribution to industries like IT, telecommunications, and defense. Additionally, there is no individual income tax across the state, which attracts both domestic and international buyers to Austin.
The housing market in Austin is a mix of luxury high-rise condos and single-family homes, with options across budgets and lifestyles. Austin's real estate market drives Texas' economy up with its contribution to industries like IT, telecommunications, and defense. Additionally, there is no individual income tax across the state, which attracts both domestic and international buyers to Austin.
Median Sale Price
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Austin
Austin Housing Supply
Austin is an attractive market for real estate investors due to its high demand and affordable condos. Austin is among the top 3 wealthiest cities in Texas and home to growing millionaires. The number of homes for sale in Austin has increased to 3,331 properties---a near 10% YoY rise. This uptick also includes 1,238 fresh properties. The increase in Austin's housing inventory creates negotiation leverage for buyers. The Austin housing supply currently stands at only 5.8 months citywide and indicates less demand.
Austin's housing supply levels depend on seasonal trends. During spring and summer, the market sees a surge in home listings. Both sellers and buyers are active, as they want to close before the school year starts or the season shifts toward winter. Austin's cost of living index is 1% lower than the national average. The cost of utilities and transportation is 4% to 10% lower than the national average. Despite potentially lower competition overall, popular and well-developed areas like Hyde Park and Mueller are among the expensive neighborhoods in Austin, Texas. If you're buying a home in Austin, you must thoroughly inspect potential properties before committing.
Austin's housing supply levels depend on seasonal trends. During spring and summer, the market sees a surge in home listings. Both sellers and buyers are active, as they want to close before the school year starts or the season shifts toward winter. Austin's cost of living index is 1% lower than the national average. The cost of utilities and transportation is 4% to 10% lower than the national average. Despite potentially lower competition overall, popular and well-developed areas like Hyde Park and Mueller are among the expensive neighborhoods in Austin, Texas. If you're buying a home in Austin, you must thoroughly inspect potential properties before committing.
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Austin
Austin Housing Demand
The Austin real estate market has shown decreased competition recently. Almost 24% of homes sell below their list price. On the other hand, only 13% of homes have sold above the asking price. The sale-to-list price ratio has reached 96% in recent months. Sellers now typically get 4% less than the asking price for homes. Under these circumstances, strategic pricing and the current sale-to-list price ratio decide who will have better negotiation power in the market.
As a home seller, you must set the right asking price for your home to avoid settling for less later. You could also offer concessions to buyers rather than reduce their headline price first. You can also list your home on the Texas MLS and find buyers quickly. If the sale-to-list price ratio is less than 100%, expect buyers to offer a much lower price on your home. If you're a buyer, you should focus on houses with extended listing periods. Also, consider homes with previous price reductions so you have more room for negotiation.
As a home seller, you must set the right asking price for your home to avoid settling for less later. You could also offer concessions to buyers rather than reduce their headline price first. You can also list your home on the Texas MLS and find buyers quickly. If the sale-to-list price ratio is less than 100%, expect buyers to offer a much lower price on your home. If you're a buyer, you should focus on houses with extended listing periods. Also, consider homes with previous price reductions so you have more room for negotiation.
Homes Sold Above List Price
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Strong
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Austin Housing Market: When to Buy or Sell?
Austin's housing market has historically cycled between buyer-friendly and seller-friendly conditions. Similar to the Texas housing market, the real estate market in Austin is also less competitive, and can favor buyers and sellers according to seasonal trends. When competition is low with increased inventory, buyers have more negotiation opportunities. Contrarily, sellers can benefit from higher prices and quicker sales when demand outpaces supply.
If Austin's housing supply exceeds the balanced 5-6 month average of the US real estate market, buyers may gain more time to decide. Sellers can receive multiple offers on their Austin homes when the months of supply are around 1-3 months. Understanding these market forces can help you time your purchase or sale strategically.
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Frequently Asked Questions
How has the average price of homes in Austin, TX, changed over the past year?
Austin home prices have continued to rise over the past year at an average growth rate of 2% to 7%, with multiple regions seeing considerable double-digit percentage growth. You can check your home's fair market value with our free home value estimator and compare it with nearby properties.
What are the Austin housing market predictions for 2025?
State-wide prices rise constantly alongside diminished demand in Texas. Buyers and sellers both will have an advantage with this market shift. However, higher Austin home prices and rising mortgage rates will make it difficult to find affordable housing. Explore more on Austin real estate trends for accurate information.
Is this a good time to buy a home in Austin, TX?
You must check for Austin real estate market trends for housing prices and inventory. Sellers can benefit from high demand and rising prices. However, if the mortgage rates are stable, demand is low, and housing inventory is plentiful, that's the best time to buy a house in Austin.
What are the best neighborhoods in Austin to buy a house?
Hyde Park, Mueller, and Downtown are among the best areas in Austin to live and buy a home. These areas boast charming residential lanes and communities of young families. You must check for Austin real estate market trends regarding demand and competitoin. It will help you know whether it's the right time to buy your home.
Where can I check Austin's housing market trends?
The housing market in Austin, Texas grows all year round. The housing demand as well as the competition is high. Properties tend to stay for fewer days than average on the market. If you want to buy a house in Austin, you can check these housing market trends and decide the right time to invest.
When will the Austin housing market crash?
As per the housing market forecast, it's very unlikely that the market will crash. Austin home prices and demand may increase during the summer. It will remain steady with sustained growth projected through 2025.
How to buy a home in Austin?
The steps to purchasing a house in Austin must start with a clear budget and mortgage pre-approval. Buyers should then search for homes for sale in Austin, submit offers, secure loans, and complete the closing process.
How can I list my home for sale in Austin, TX?
You can list your home for sale with a Flat Fee MLS Texas listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average cost of living in Austin, TX?
The cost of living in Austin, Texas is 1% lower than the national average. However, the cost of housing in Austin, Texas is 32% higher than the national average. The typical single-family home in Austin costs $565K with regional price variations. You can check your local region's cost of living using our free Austin cost of living calculator.
Where can I buy affordable houses in Austin?
You can find cheap houses for sale in Austin, Texas within your budget. There are 800+ properties within the price range of $150K to $350K across neighborhoods.
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