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Analyzing the <a href="https://teamprice.com/price-to-rent-ratio">Price-to-Rent Ratios in Austin</a>: What the Data Reveals About Buying vs. Renting The Austin real estate market offers a wide variety of opportunities for both buyers and renters. Understanding the price-to-rent ratio for different areas is crucial for making informed housing decisions. The <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratio</a> is a calculation used to determine whether it's better to buy or rent in a specific area. This ratio is obtained by dividing the median home sale price by the annual rent. A lower ratio (below 15) indicates it’s better to buy than rent, while a higher ratio (above 20) suggests renting is more cost-effective. Ratios between 15 and 20 indicate a balanced market where the decision to buy or rent depends on individual preferences and financial goals. Let's explore how Austin's neighborhoods compare based on this data. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220114207.png" alt="" width="" height="" style=""></figure></div> In downtown Austin’s 78701 zip code, the median rent is $3,150 per month, and the median sale price is $697,000, giving a price-to-rent ratio of 18.4. This places it in a balanced market, suggesting that either buying or renting could be viable depending on your long-term plans. Moving east to 78702, the median rent is $2,635, and the median sale price is $722,500, resulting in a price-to-rent ratio of 22.8. Here, renting is more cost-effective than buying. The trend continues in 78703, where the median rent is $3,200 and the median home price is significantly higher at $1,649,500, leading to a ratio of 43. This data clearly shows that renting in this area is more financially advantageous. In contrast, some areas present better opportunities for buying. For instance, the 78725 zip code has a median rent of $1,950 and a median sale price of $315,500, resulting in a low price-to-rent ratio of 13.5. Similarly, 78724 shows a ratio of 14.7 with a median rent of $1,995 and a median sale price of $352,470. These areas suggest it’s more cost-effective to buy than rent. The same trend is seen in 78610 (Buda) with a ratio of 14.8 and 76537 (Jarrell) with a ratio of 14.5. Several neighborhoods fall within the balanced market category. In 78717 (Austin), the median rent is $2,500, and the median sale price is $487,500, leading to a ratio of 16.3. Nearby, 78747 shows a similar trend with a ratio of 16.2, based on a median rent of $2,350 and a sale price of $457,490. In Pflugerville’s 78660, the ratio is 16.7, where the median rent is $2,150 and the median sale price is $430,510. These figures suggest that whether to buy or rent in these areas depends largely on personal and financial goals. Higher-end areas such as 78746 and 78733 have much higher <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratios</a>. In 78746, the median rent is $4,900, while the median sale price is $2,220,000, resulting in a ratio of 37.8. Similarly, 78733 has a median rent of $3,600 and a median sale price of $1,667,500, with a ratio of 38.6. These high ratios indicate that renting is the more cost-effective option in these upscale neighborhoods. The price-to-rent ratios also vary widely in the surrounding suburbs. In Cedar Park’s 78613, the median rent is $2,200, and the median sale price is $499,945, resulting in a ratio of 18.9. This falls into the balanced market range. On the other hand, areas like 78634 (Hutto) offer more favorable conditions for buying, with a ratio of 15.9, where the median rent is $2,090 and the median sale price is $398,941. Georgetown’s 78626 offers a ratio of 17.1, with a median rent of $2,050 and a sale price of $420,000, also placing it in the balanced category. In summary, Austin’s price-to-rent ratios vary significantly by neighborhood. Areas like 78725 and 76537 are more favorable for buying, while high-priced areas like 78703 and 78746 lean heavily toward renting. The balanced market areas, such as 78717 and 78660, offer flexibility depending on individual needs. Understanding these ratios helps both buyers and renters make well-informed decisions in Austin's dynamic housing market​

Latest price-to-rent ratios in Austin areas to determine whether it’s better to buy or rent. This detailed analysis provides insights into Austin’s dynamic real estate market using data-driven comparisons

Austin Price-to-Rent Ratio: Where It’s Better to Buy or Rent in 2024

Leasing Market Trends: A Detailed Analysis of Seasonal Shifts and Price Changes The leasing market over the past two years has shown significant changes in activity levels and rental prices, highlighting clear seasonal trends and shifts influenced by broader economic factors. By examining the <a href="https://teamprice.com/market-cycle-lease">Austin Lease Market Cycle</a> data from December 2022 to December 2024, patterns emerge that help understand how leasing demand and prices fluctuate throughout the year. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220114616.png" alt="" width="" height="" style=""></figure></div> In December 2022, the number of leased properties stood at 1,692, with an average leased price of $2,413 and a median leased price of $2,200. Leasing activity saw a steady rise into January 2023, with 1,885 properties leased, representing an 11.4% increase from the previous month. During this period, average leased prices increased to $2,472, showing a $59 rise. The median leased price remained stable at $2,200. This upward trend continued in February 2023, despite a slight dip in leasing activity to 1,845 properties, a 2.1% month-over-month decrease. March 2023 saw a substantial jump in leasing activity, reaching 2,156 properties leased, a 16.9% increase compared to February. Prices remained relatively flat, with the average leased price at $2,460 and the median price holding at $2,250. The market maintained strong demand into April 2023, with 2,275 properties leased and average prices increasing to $2,510. This growth persisted into May and June 2023, where leasing numbers peaked at 3,165 in June, marking a 16.9% month-over-month increase. Average leased prices during June reached $2,547, the highest in the first half of 2023. The summer months continued to see strong leasing demand, with July 2023 recording 3,201 leased properties. However, prices began to decline slightly, with the average leased price falling to $2,520. August 2023 marked the beginning of a downward trend in leasing activity, with a 9.3% drop, bringing the total to 2,904 properties. Average prices also fell to $2,476. This decline continued into September 2023, with leasing activity dropping to 2,419 properties, a significant 16.7% decrease from August. Prices dipped to $2,442, while the median price fell to $2,200. The market saw further reductions in October and November 2023, with leased properties totaling 2,210 and 2,025, respectively. By December 2023, leasing activity reached a low point of 1,896 properties, reflecting a 6.4% decrease from the previous month. The average leased price stood at $2,379, a slight recovery of $15 from November, while the median leased price dropped to $2,150. In January 2024, the market stabilized with 1,900 properties leased, showing a minimal 0.2% increase from December. Average prices held steady at $2,379, while the median price rose slightly to $2,195. February 2024 saw leasing activity jump to 2,173 properties, a 14.4% increase, reflecting the seasonal trend of higher demand early in the year. Prices also rose to an average of $2,427, although the median price declined to $2,195. Leasing demand remained strong in March and April 2024, with 2,315 and 2,490 properties leased, respectively. The average leased price in April increased to $2,478, consistent with seasonal growth patterns. May 2024 continued this trend, with 2,750 properties leased and average prices climbing to $2,520. June 2024 mirrored the previous year’s peak, with 3,053 properties leased and an average price of $2,509. However, the market began to show signs of slowing down in the second half of 2024. By July 2024, leasing activity increased only slightly to 3,244 properties, while the average leased price fell to $2,469. August 2024 saw a drop in leasing to 3,076 properties, a 5.2% decline, and average prices dipped to $2,364. This trend continued through September 2024, with leasing activity falling sharply to 2,437 properties, a 20.8% decrease. Prices also dropped to $2,296. The final months of 2024 reflected a continued slowdown in leasing demand. October 2024 recorded 2,327 leased properties, a modest improvement from September, but average prices remained low at $2,311. By November, leasing numbers fell to 2,103, with prices averaging $2,304. December 2024 closed the year with 1,990 properties leased and an average leased price of $2,335. These data points illustrate the clear seasonal patterns in leasing demand, with peaks occurring in the summer months and dips during the winter. Average and median leased prices followed these trends closely, reflecting the balance between supply and demand. While prices remained relatively stable, the slight declines towards the end of 2024 suggest a market adjusting to broader economic conditions or increased rental supply. Understanding these trends helps both renters and property owners make informed decisions based on the time of year and current market conditions​

Detailed leasing market trends from 2022 to 2024. Understand how seasonal changes impact rental prices and demand, with insights backed by data to help renters and property owners make informed decisions

Austin Leasing Market Trends: Detailed 2022-2024 Analysis of Prices and Demand

Analyzing the Austin Area Real Estate Market: Inventory Trends and Market Conditions Across 30 Cities The Austin area real estate market offers a wide range of opportunities for buyers, sellers, and investors. Looking at the current data <a href="https://teamprice.com/type-of-market-city">Austin Area Type of Market</a> for 30 cities reveals a clear picture of market conditions, broken down by months of inventory, median home prices, and active listings. Understanding these details is key to making smart decisions in a market that’s always changing. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220115520.png" alt="" width="" height="" style=""></figure></div> A city’s inventory level is a reliable indicator of market conditions. Less than 4.9 months of inventory means a seller's market. Between 5 and 6.9 months is a neutral market, where supply and demand are balanced. Anything over 7 months signals a buyer’s market. According to the latest data, 16 of the 30 cities in the Austin area are in a seller’s market, making up 53% of the total. Seven cities fall into the neutral market category, representing 23%, and another seven cities are buyer’s markets, also at 23%. Austin, the largest city in the region, currently has 3,188 active listings. The average home price is $984,208, with a median price of $599,000. With 4.24 months of inventory, Austin is in a seller’s market. Homes here typically stay on the market for a median of 84 days. Nearby Georgetown shows a similar trend. It has 860 active listings, an average price of $571,176, and a median price of $510,000. Georgetown’s inventory level is 3.24 months, which also puts it in the seller’s market category. Homes in Georgetown spend a median of 80 days on the market. Other cities like Buda and Hutto also reflect strong seller’s market conditions. Buda has 243 active listings, a median home price of $384,000, and 3.52 months of inventory. Hutto has 205 active listings, a median price of $398,941, and just 3.2 months of inventory. These numbers show healthy demand and limited supply, making it a competitive market for buyers. On the flip side, some cities favor buyers because of higher inventory levels. Burnet, for example, has 115 active listings and 10.45 months of inventory. The average home price in Burnet is $772,121, with a median of $529,500. Dale is another buyer’s market with 11 months of inventory, 45 active listings, and a median price of $385,000. In these cities, buyers have more choices and better leverage when negotiating. Neutral markets offer a balance between buyers and sellers. Lakeway, for instance, has 101 active listings, a median price of $799,972, and 5.41 months of inventory. San Marcos shows similar conditions with 372 active listings, a median price of $399,018, and 5 months of inventory. These cities provide opportunities for both buyers and sellers to strike fair deals. Cities like Cedar Park and Pflugerville highlight interesting price trends. Cedar Park has 129 active listings, an average price of $600,356, and a median price of $509,900. With just 2.14 months of inventory, Cedar Park is a strong seller’s market. Pflugerville’s market is also competitive, with 305 active listings, a median price of $431,019, and 2.91 months of inventory. The days on market data gives even more insight. In Jarrell, homes typically stay on the market for 58 days, with inventory at 3.17 months. In Kyle, homes stay on the market for 79 days, with 3.29 months of inventory. In contrast, homes in Driftwood stay on the market longer, with a median of 106 days and 6 months of inventory. Spicewood also sees longer wait times, with homes staying on the market for 121 days and inventory levels at 10.27 months. Price adjustments are happening in several cities. Marble Falls, for example, has seen average prices drop by 11.2%. Manchaca’s prices fell by 6.3%. On the other hand, Spicewood saw price increases of up to 15.7%. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220115541.png" alt="" width="" height="" style=""></figure></div> The Austin area real estate market is diverse, with different conditions offering opportunities for various types of buyers and sellers. Knowing the inventory levels, median prices, and market conditions can help you navigate this dynamic landscape. Staying informed about these trends is essential for making smart real estate decisions in the Austin area.&nbsp; <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220115601.png" alt="" width="" height="" style=""></figure></div>

Austin area real estate trends with detailed insights into inventory levels, median prices, and market conditions across 30 cities. Discover where buyers and sellers have the advantage in this comprehensive market analysis

Austin Area Real Estate Market Analysis: Top 30 Cities by Inventory and Prices

Analyzing Year-Over-Year Changes in Active Real Estate Listings for 2024 In 2024, the real estate market in the Austin area has shown significant fluctuations in the <a href="https://teamprice.com/active-residential-listings">number of active listings</a> compared to the previous year. This data-driven analysis provides a detailed look at the percentage changes in <a href="https://teamprice.com/active-residential-listings">active listings year over year</a> (YoY) for each day from March through December. These insights can help buyers, sellers, and agents understand market activity trends and make informed decisions. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220111626.png" alt="" width="" height="" style=""></figure></div> In early March 2024, active listings were up by approximately 13% compared to the same period in 2023. For instance, on March 4th, the year-over-year percentage increase stood at 13.07%. The trend gradually rose to 14.41% by March 6th, and by March 15th, it reached 16.31%. The end of March saw even higher increases, peaking at 18.76% on March 28th. This indicates a steady rise in available homes for sale during the first quarter. April continued the upward trend with notable growth. On April 5th, active listings increased by 21.01% YoY. By mid-April, the market saw jumps of over 25%, reaching 27.97% on April 19th. Toward the end of the month, on April 26th, active listings saw a substantial 31.44% increase compared to 2023. These figures suggest that more sellers were putting their homes on the market as the spring season progressed, a common pattern in real estate markets. May 2024 recorded some of the highest year-over-year changes. On May 3rd, active listings were up by 32.55%, and by May 10th, they surged to 33.90%. These numbers reflect increased seller confidence and possibly slower buyer demand, leading to higher inventory levels. By the end of May, the percentage change remained strong, with a 31.90% increase on May 31st. June showed a slight decline compared to May, but active listings remained well above 2023 levels. The highest YoY change in June was 30.69% on June 14th. By June 28th, the percentage change was 30.54%. These consistent increases suggest that the market was holding steady with more properties available compared to the previous year. July maintained a similar pattern, with year-over-year changes hovering between 28% and 32%. On July 4th, active listings increased by 32.37%. However, by the end of the month, the percentage change dipped slightly to 28.93% on July 29th. This indicates a possible seasonal slowdown in listings toward the end of summer. In August, the YoY increase in active listings began to decline. On August 2nd, the market saw a 27.10% increase, and by August 19th, it fell to 25.18%. The downward trend continued into September, with percentage changes dropping below 20% by the end of the month. For example, on September 30th, active listings were up only by 20.29% compared to the previous year. These declines may reflect seasonal trends or a shift in market dynamics, with fewer new listings coming on the market. October saw continued declines, with active listings showing a 17.06% YoY increase on October 7th. By October 31st, the increase was down to 15.84%. The trend of declining YoY percentage changes persisted through November and December. On December 2nd, active listings showed an 11.78% increase compared to 2023, reflecting a significant slowdown in new listings as the year closed. This detailed data on year-over-year changes in active listings highlights how the real estate market in 2024 has been more favorable for buyers, with higher inventory levels throughout much of the year. Understanding these trends helps buyers, sellers, and agents navigate the market and make informed decisions based on current conditions.&nbsp;

Discover how Austin's real estate market performed in 2024 with a detailed analysis of year-over-year percentage changes in active listings. Track daily trends from March to December and gain valuable insights for buyers, sellers, and agents

Austin Real Estate Trends 2024: Year-Over-Year Active Listings Analysis

The Austin Real Estate Market: A Detailed Look at the Sold Price to List Price Ratio (2000–2024) The Austin real estate market has undergone significant changes over the years, with the <a href="https://teamprice.com/sold-price-to-list-price-ratio">sold price to list price ratio</a> serving as a critical metric to evaluate market conditions. This ratio reflects how closely the final selling price of a property aligns with its listed price. Analyzing this data from 2000 through 2024 reveals fascinating trends, offering insights into how the market has evolved. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241220113951.png" alt="" width="" height="" style=""></figure></div>​In the early 2000s, the <a href="https://teamprice.com/sold-price-to-list-price-ratio">sold price to list price ratio in Austin</a> hovered in the upper 90% range. In 2000, the annual average was 99.2%, with monthly variations ranging from 98.5% to 99.6%. This stability suggested a market leaning towards balanced conditions. Moving into 2001, a slight decline was observed, with an average of 98.6% and a minimum monthly value of 97.4%. The years 2002 and 2003 showed further dips, with averages of 97.7% and 97.2%, respectively, marking a subtle cooling in the market.​From 2004 to 2006, the market began to stabilize, with ratios climbing back to averages of 97.3% to 98.1%. The upward trend indicated a modest recovery, likely fueled by growing demand and favorable economic conditions. However, the financial crisis of 2008 caused notable shifts. That year, the sold price to list price ratio dropped to a low of 95.5%, with an annual average of just 96.7%. The subsequent years, 2009 and 2010, saw minimal improvements, with averages of 96.7% and 96.5%, respectively, underscoring the market’s slow recovery.​A significant turning point emerged in the mid-2010s as Austin’s real estate market began gaining momentum. By 2013, the average ratio climbed to 98.2%, with highs reaching 98.8% during peak months. This growth continued through 2015, when the annual average hit 98.4%, supported by strong local demand and economic growth in the region.&nbsp;The most dramatic changes occurred between 2020 and 2022. In 2020, the sold price to list price ratio surpassed 100% for the first time, with a maximum monthly ratio of 100.4%. This trend accelerated in 2021, when the ratio soared to an unprecedented high of 109.5% in April, reflecting intense competition among buyers. This surge was driven by historically low mortgage rates, limited inventory, and a surge in buyer demand.​By 2022, the market began to cool as interest rates increased and affordability became a concern for many buyers. The annual average ratio dropped to 100.9%, with monthly lows reaching 96.1% by December. This cooling trend has persisted into 2023 and 2024. In 2023, the average ratio settled at 97.3%, with monthly variations ranging from 96.3% to 97.8%. The data for 2024, up to October, indicates continued stability, with an average of 97.3% and a peak of 98.0% in the spring months. Overall, the sold price to list price ratio provides a detailed lens through which the Austin market’s dynamics can be understood. Periods of economic stability, growth, and contraction are all reflected in this data. For buyers and sellers navigating the current market, understanding these trends can help set realistic expectations and guide strategic decisions. While recent years have shown a return to more balanced conditions, the data underscores the importance of staying informed in a market as dynamic as Austin’s.&nbsp;

Explore the 24-year trends in Austin’s sold price to list price ratio, revealing key insights into the local real estate market. Discover how market dynamics have evolved from 2000 to 2024, including shifts during economic highs and lows

Are Austin Sellers Getting Their Asking Price? A 24-Year Analysis

The Rising Cost of Homeownership in Austin: Analyzing Housing Affordability Trends (2000-2024) December 19, 2024 : <a href="https://teamprice.com/affordability">Austin housing affordability</a> has changed dramatically over the past two decades, with mortgage payments rising significantly in recent years. This trend has made homeownership more expensive for many buyers in the Austin area, especially when compared to historical norms. The data from 2000 to 2024 reveals key patterns in monthly mortgage payments, interest rates, and affordability ratios, offering insights into why Austin homeownership is becoming increasingly challenging. In 2000, the average monthly mortgage payment in the Austin area, including principal, interest, taxes, and insurance (PITI), was around $1,195. From 2000 to 2006, PITI steadily increased, reaching an average of $1,285 by 2006. This period saw relatively stable interest rates, with the median rate hovering between 2.76% and 3.38%. However, the housing market crash of 2008 temporarily reduced these payments. In 2009, the average monthly PITI dropped to $1,246, reflecting lower home prices and interest rates in Austin.&nbsp; <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241219032647.png" alt="" width="" height="" style=""></figure></div> The years following the crash saw mortgage payments fluctuate. From 2010 to 2015, monthly PITI in Austin ranged from $1,236 to $1,627, showing moderate growth. Interest rates during this period remained low, between 3.37% and 4.03%. By 2016, PITI reached $1,706, reflecting an upward trend in Austin home prices. This pattern continued, and by 2019, the average PITI in the Austin area was $1,954. Despite slight declines in 2020 due to lower interest rates, mortgage payments began to rise sharply in 2021. In 2021, monthly PITI surged to an average of $2,686, with some months exceeding $2,700. This increase coincided with rising Austin home prices and interest rates nearing 5%. In 2022, affordability hit a new low, with monthly mortgage payments peaking at $3,742 in June. The average PITI for the year was $3,476, driven by soaring Austin-area home prices and mortgage rates that exceeded 5.5%. Affordability ratios also reflected this shift. In 2022, PITI accounted for 47.19% of median household income, a sharp increase from the 26-30% observed in the early 2000s. The trend continued into 2023 and 2024, with monthly PITI in Austin remaining high. In 2023, the average mortgage payment was $3,443, and in 2024, it hovered around $3,381. Interest rates stayed elevated, with the median rate around 4.54% in December 2024. Although these figures represent a slight improvement from the 2022 peak, they still indicate significant affordability challenges compared to historical levels in Austin. Over the past 24 years, the median sold price-to-income ratio in Austin has also increased. In 2000, the ratio was 2.76, meaning a home’s median price was 2.76 times the median household income. By April 2022, this ratio peaked at 5.75, highlighting the growing gap between Austin home prices and incomes. As of December 2024, the ratio stands at 4.54, above the historical average of 3.74. This indicates that despite recent improvements, Austin home prices remain disproportionately high compared to household incomes. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241219032728.png" alt="" width="" height="" style=""></figure></div> Year-over-year changes in PITI show how volatile the Austin housing market has become. Between 2021 and 2022, monthly mortgage payments increased by over $800. In contrast, the period from 2009 to 2010 saw minimal changes, reflecting the stability after the housing crash. These fluctuations are largely driven by changes in interest rates and Austin home prices. For example, in 2021, interest rates climbed from 4.33% in January to 5.40% by June, contributing to the sharp rise in PITI. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241219032811.png" alt="" width="" height="" style=""></figure></div> <a href="https://teamprice.com/affordability">Affordability in Austin</a> has been especially strained since 2021. Before this period, the PITI-to-income ratio rarely exceeded 30%. In recent years, it has consistently remained above 40%, indicating that buyers are dedicating a larger portion of their income to housing costs. This trend is unsustainable for many households and reflects the need for either higher incomes, lower home prices, or reduced interest rates to improve affordability in Austin. <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241219032840.png" alt="" width="" height="" style=""></figure></div> In summary, <a href="https://teamprice.com/affordability">housing affordability in Austin</a> has worsened significantly since 2000. Monthly mortgage payments have more than doubled, and affordability ratios have reached record highs. While homeownership in the Austin area was once manageable for most households, the current market poses challenges that many buyers struggle to overcome. Understanding these trends helps both buyers and industry professionals navigate the evolving Austin housing market and make informed decisions. This article was written on December 19 2024 and reflects data up to that date. The following charts will provide up to date information. If you have any questions, please let us know.&nbsp;

Austin-area housing affordability has changed from 2000 to 2024. Learn about rising mortgage payments, interest rates, and affordability ratios, and understand why homeownership costs have doubled over the past 24 years in the Austin real estate market

Austin Real Estate Affordability: How Homeownership Costs Have Doubled Since 2000

Austin Rental Market Shows Softening Prices and Leasing Activity in 2024 The Austin rental market is experiencing notable shifts as leasing activity and <a href="https://teamprice.com/market-cycle-lease">rent prices decline year-over-year</a>, reflecting changing dynamics in supply, demand, and affordability. Data for the year 2024 highlights key trends that renters, landlords, and market analysts need to consider as they assess the current state of the market.​In December 2024, the total number of leased residential properties dropped to 1,914, marking an 8.2% decrease compared to November when 2,084 properties were leased. This continued decline caps off a year-long trend of softening rental demand, particularly noticeable in the final months. By contrast, leasing activity peaked earlier in the year, reaching 3,244 properties in July 2024, before steadily declining through the fall. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217120435.png" alt="" width="" height="" style=""></figure></div>​Average rental prices also reflect this downward trend. In December 2024, the average leased price stood at $2,330, a 1.1% increase from November's $2,305 but still a 2.1% decrease year-over-year compared to December 2023's average of $2,379. The median leased price in December fell slightly to $2,100, holding steady month-over-month but representing a 2.3% decline year-over-year. Throughout 2024, median prices fluctuated but ultimately trended downward, with the year starting at $2,195 in January before seeing modest peaks and steady drops into the winter months.​The most significant declines occurred in the late summer and early fall. For instance, in September 2024, the average leased price dropped to $2,296, a 2.9% month-over-month decrease and a 6.0% year-over-year drop from September 2023’s $2,442. Leasing volume in September also saw a sharp drop to 2,437 properties, a 20.8% decline compared to August’s 3,076 properties. These numbers reflect a critical shift in tenant demand, possibly due to rising rental inventory and ongoing affordability challenges.​Historically, the Austin rental market sees peak activity during the summer months, with rents stabilizing or softening as fall and winter approach. This pattern held true in 2024, with average rent prices peaking at $2,520 in May and June 2024, before steadily declining to the December low of $2,330. Leasing volume followed a similar trajectory, with summer months like June seeing 3,053 leases, an 11.0% increase month-over-month, while the final quarter saw consistent declines. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217120422.png" alt="" width="" height="" style=""></figure></div>​The leased-to-list price ratio remained strong throughout the year, hovering around 99.7% to 99.9%, indicating that landlords have largely maintained their list prices. For instance, in December 2024, the ratio stood at 99.55%, reflecting landlords' reluctance to significantly discount rents despite reduced leasing activity. However, the steady decline in median and average rents suggests that landlords are making smaller adjustments to meet renter affordability concerns.​Several factors have contributed to the cooling rental market. The increased availability of rental units has led to greater competition among landlords, putting downward pressure on prices. Additionally, economic uncertainties and improved affordability in the home purchase market have influenced some renters to explore alternatives, further reducing demand. Rising living costs may have also driven renters to negotiate lower lease prices or delay moving into new properties altogether.​As the year comes to a close, the Austin rental market remains in a state of adjustment. Average and median lease prices have fallen compared to the previous year, and leasing activity has slowed significantly, particularly in the second half of 2024. Renters may find this environment increasingly favorable, with opportunities for negotiation and greater flexibility. Landlords, on the other hand, face the challenge of staying competitive while adapting to evolving market conditions. Looking ahead to 2025, the Austin rental market will likely continue to balance supply and demand. For landlords and investors, monitoring pricing trends and adjusting expectations will be essential to remain competitive. For renters, the ongoing market correction could provide continued opportunities for affordability and flexibility​

Austin Rent Prices : latest trends in Austin’s rental market for 2024. Rent prices fell 2.1% year-over-year, and leasing activity dropped significantly in December. Read our detailed analysis to understand what’s driving these changes in Austin rent prices

Austin Rent Prices Drop 2.1% in December 2024: Latest Leasing Trends and Analysis

<a href="https://teamprice.com/appreciation-year-over-year-city">Austin Area Housing Market: Year-Over-Year Appreciation Analysis</a> December 17 2024 : The Austin area real estate market has experienced significant growth over the past two decades, with some cities standing out for their long-term appreciation rates and others facing recent price corrections. Data from 2000 to 2024 reveals clear trends in average and median sold prices across cities such as Austin, Leander, Wimberley, Burnet, and many others. This detailed analysis highlights which markets have delivered the strongest growth and identifies emerging opportunities as well as cities where prices have cooled in the past year. In Austin, the average sold price grew from $218,205 in 2000 to $751,478 in 2024, representing a total increase of 244 percent over 24 years. The median sold price followed a similar upward trend, rising from $159,900 to $572,955. This steady appreciation translates to a compound annual growth rate of approximately 5.3 percent for average sold prices and 5.5 percent for median sold prices. Austin remains a stable market with modest year-over-year growth of 0.7 percent for average prices and 0.2 percent for median prices in the most recent year. Leander emerged as one of the top performers in the Austin area housing market. The average sold price skyrocketed from $129,266 in 2000 to $571,688 in 2024, an impressive 342 percent increase over the period. Leander’s median sold price saw even stronger growth, rising from $109,633 to $485,600. Both appreciation rates reflect a compound annual growth of 6.4 percent, placing Leander near the top of Austin area cities for long-term price increases. Over the past year, Leander’s average prices grew by 3.1 percent, signaling consistent demand and robust market activity. Wimberley also stood out for its remarkable appreciation. Between 2000 and 2024, the average sold price increased by 348 percent, climbing from $156,972 to $702,450. Median prices followed closely, rising from $140,000 to $521,400. These numbers represent a compound annual growth rate of 6.4 percent for average prices and 5.6 percent for median prices. Recent performance has been equally strong, with average sold prices rising by 12.7 percent year-over-year. Wimberley’s combination of long-term appreciation and strong recent growth reflects its appeal among buyers looking for value and growth potential. Burnet has also delivered exceptional long-term results for homeowners and investors. The average sold price grew from $135,819 in 2000 to $549,005 in 2024, marking a 304 percent increase over the period. Median prices similarly increased from $107,500 to $408,383, representing a compound annual growth rate of 5.7 percent. Most notably, Burnet’s median sold prices grew by 23.8 percent over the past year, positioning it as one of the fastest-growing markets in the Austin area. While many cities have shown consistent appreciation, others have experienced short-term corrections. For example, Buda saw its average sold price drop by 9.6 percent from 2023 to 2024, moving from $448,600 to $405,406. Similarly, its median sold price fell by 9.8 percent year-over-year. Cedar Creek also recorded a decline, with average prices decreasing by 6.5 percent and median prices by 10.5 percent. Lakeway, a historically strong market, saw average sold prices drop by 5.6 percent and median prices decline by 8.4 percent over the same period. These corrections reflect changing market conditions, likely influenced by affordability challenges and shifts in demand. Manchaca delivered the strongest year-over-year performance among Austin area cities. Average sold prices jumped by 24.6 percent, while median sold prices increased by 4.9 percent. Smithville followed closely with a 15.1 percent year-over-year increase in average sold prices and an 11.1 percent increase in median prices. Both markets are experiencing renewed demand, driven by affordability relative to larger cities and attractive growth potential. Cities such as Taylor and Del Valle continue to show solid growth despite a slower pace. Taylor’s average sold price grew by 1.8 percent year-over-year, while Del Valle saw a 2.7 percent increase. These numbers suggest steady market activity in smaller cities that remain attractive for buyers seeking affordable housing options. Overall, the Austin area real estate market shows a mix of consistent long-term appreciation and localized market adjustments. Cities like Austin, Leander, and Wimberley continue to offer strong long-term returns, while markets like Burnet and Manchaca are experiencing notable short-term gains. On the other hand, cities such as Buda, Cedar Creek, and Lakeway reflect areas where prices have softened, presenting potential opportunities for buyers looking for value in a correcting market. The combination of historical appreciation data and recent trends provides valuable insights for homebuyers, sellers, and investors looking to navigate the dynamic Austin area housing market.&nbsp; <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217121950.png" alt="" width="" height="" style=""></figure></div>

Explore the Austin area housing market trends, including 24 years of appreciation data. Discover where real estate prices are rising, which cities are cooling, and what to expect for 2025

Austin Area Real Estate Market: Year-Over-Year Appreciation Trends for 2024

Austin Area Short Sale Real Estate Analysis: Trends, Data, and Insights <a href="https://teamprice.com/short-sale">Short sale properties in the Austin area</a> offer unique opportunities for buyers and sellers navigating today’s real estate market. This analysis provides a detailed look at the current short sale listings in the region, with data on prices, discounts, and trends by city and zip code. Whether you’re considering purchasing a short sale or facing the possibility of selling through a short sale, understanding the market dynamics is crucial. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217124245.png" alt="" width="" height="" style=""></figure></div> As of December 17, 2024, there are 37 <a href="https://teamprice.com/short-sale">active short sale listings in the Austin area</a>. These properties show significant price reductions, presenting potential value for buyers. The average listing price for short sale properties is $425,222, with an average price drop of $38,061, translating to an average discount of -7.3%. Short Sale Trends by City :&nbsp;The highest number of short sale listings can be found in Austin, with 9 active properties averaging a price of $425,222 and an average price drop of $38,061. In Buda, there are 4 listings with an average price of $395,224, and the average discount stands at $42,000, representing an -8.4% reduction. Killeen has 3 properties listed at an average price of $183,632, with price reductions averaging $21,333, or -8.4%. Other notable areas include Kyle, where 3 short sale properties are listed with an average price of $317,896 and an average discount of $33,104 (-7.6%). In Liberty Hill, there are 2 properties with an average price drop of $99,250, representing a substantial -21.6% reduction. Short Sale Insights by Zip Code : Short sale properties are distributed across several key zip codes, each reflecting varying levels of discount. In zip code 78642 (Liberty Hill), the average price drop is the highest at -21.6%, with properties discounted by $99,250 on average. Zip code 76549 (Killeen) shows a notable reduction of -12.6%, with an average discount of $32,000. The 78610 zip code (Buda) contains 4 listings with an average price drop of -8.4%. In 78645 (Austin), there are 2 properties averaging a price reduction of $42,500, or -6.2%. These figures highlight the diversity in short sale opportunities across the region. What is a Short Sale?&nbsp;A short sale occurs when a property is sold for less than the amount owed on the mortgage. This process typically happens when a homeowner is experiencing financial distress and needs to sell the property to avoid foreclosure. The lender must agree to accept less than the total owed amount to facilitate the sale. Buying a Short Sale: What to Expect?&nbsp;Buying a short sale can be an attractive option for those looking for potential discounts. However, the process can take longer than a traditional purchase due to the need for lender approval. Buyers must be prepared for a more extended timeline and the possibility that the lender may reject the offer or counter with different terms. Benefits of Buying a Short Sale: <ul><li>Discounted Prices: Short sales often sell below market value, offering buyers a chance to acquire property at a lower cost.</li><li>Less Competition: Unlike foreclosure auctions, short sales may attract fewer competing offers.</li><li>Opportunity for Equity: If the market improves, short sale properties may appreciate, offering potential for future equity.</li></ul> Considering a Short Sale as a Seller?&nbsp;Homeowners facing financial difficulties may consider a short sale to avoid foreclosure. A short sale can have less impact on credit compared to a foreclosure and allows for a more controlled sale process. When to Consider a Short Sale:<ul><li>Financial Hardship: If you can no longer afford your mortgage payments.</li><li>Negative Equity: If your home’s market value is less than the mortgage balance.</li><li>Foreclosure Risk: If foreclosure is imminent, a short sale can be a preferable alternative.</li></ul> Historical Analysis of Short Sale Properties :&nbsp;Looking back, the Austin area experienced a peak in short sales during the aftermath of the 2008 financial crisis. In 2011, there were 489 short sale transactions. This number gradually decreased over the years. By 2015, only 82 short sales were recorded, and by 2020, the number dropped to 3 transactions. In recent years, short sales have remained low, indicating a healthier housing market.&nbsp;In the City of Austin itself, short sales peaked at 143 transactions in 2012. Since then, the numbers have steadily declined, with only a handful recorded in the past few years.&nbsp;This historical context shows how market conditions and economic factors influence short sale activity. Current listings reflect a more stable market, though pockets of financial distress still create opportunities for buyers and options for sellers.&nbsp; <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241217124119.png" alt="" width="" height="" style=""></figure></div>

How Short Sales Are Shaping the Austin Real Estate Market : detailed data on short sale properties in Austin, including current prices, discounts, and historical trends. Learn what short sales are, their benefits for buyers, and options for sellers. Stay informed with the latest short sale market analysis

Austin Short Sale Listings: 2024 Market Trends and Analysis

Year-Over-Year Real Estate Analysis: December 2024 Shows Growth in Austin MLS and City of Austin December 16, 2024 : The Austin-area housing market continues to show significant growth as we close out 2024. A year-over-year comparison for December 2024 reveals increases across various metrics for both the broader Austin MLS region and the City of Austin itself. Key indicators such as the number of active listings, months of inventory, and property prices highlight notable shifts in the market when compared to the same period in 2023. These trends suggest a market that remains dynamic, with both buyers and sellers adjusting to changing conditions. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241216125200.png" alt="" width="" height="" style=""></figure></div> For the Austin MLS region, the total number of active listings increased from 11,009 in December 2023 to 12,665 in December 2024. This represents an increase of 1,656 listings, or 15.04%. The months of inventory also rose from 3.81 to 4.39, marking a 15.10% increase. This suggests a slight cooling in market demand, with more homes available for purchase. However, prices have continued to climb. The average active listing price increased by $21,141, moving from $556,348 in 2023 to $577,489 in 2024, reflecting a 3.80% rise. The median active price saw a similar trend, increasing by $16,785 to reach $446,785, a 3.90% jump.​The sold prices within the Austin MLS region also saw upward movement. The average sold price rose from $534,962 in December 2023 to $557,108 in December 2024, an increase of $22,146 or 4.14%. The median sold price increased from $419,995 to $435,000, which is a $15,005 rise or 3.57%. These increases indicate that while more properties are on the market, buyers are still willing to pay higher prices for homes, signaling sustained demand despite the increase in inventory.​Zooming in on the City of Austin specifically, the data reflects similar trends but with some variations. The total active listings grew from 3,001 in December 2023 to 3,430 in December 2024. This increase of 429 listings represents a 14.30% rise. Months of inventory increased from 3.52 to 4.07, showing a 15.82% growth. This indicates that homes are staying on the market longer than they did a year ago, providing buyers with more options.​Property prices within the City of Austin also reflect upward trends. The average active listing price climbed by $27,077, from $773,468 in 2023 to $800,545 in 2024, marking a 3.50% increase. The median active listing price increased by $19,000, reaching $599,000 in 2024, a 3.28% increase compared to the previous year. Sold prices have similarly risen, with the average sold price moving from $742,839 to $771,340, a $28,501 increase or 3.84%. The median sold price went up by $15,000, from $565,000 to $580,000, representing a 2.65% increase.​The data highlights that while there is more inventory in the market, prices are not decreasing. Both the broader Austin MLS region and the City of Austin show consistent appreciation in home values. This suggests that demand remains strong enough to support higher prices, even with a growing number of active listings and longer inventory periods. Buyers looking for homes in the Austin market are encountering more options but are still seeing price points that reflect the region's ongoing appeal. This year-over-year analysis provides valuable insights into the Austin housing market's current state and future direction. Buyers, sellers, and real estate professionals can use this data to understand how the market is evolving and make informed decisions moving forward. As we head into 2025, these trends will be key to watching how the market adjusts to new dynamics in supply and demand.&nbsp;

Discover how Austin's real estate market evolved in December 2024 compared to 2023. Explore data on active listings, months of inventory, and price trends in the Austin MLS region and the City of Austin

Austin Real Estate Market Analysis: December 2024 Year-Over-Year Trends

Austin Home Prices Surge in December 2024: Highest Monthly Increase Since February 2022 December 16 2024 : The Austin real estate market showed a remarkable surge in December 2024, posting the highest month-over-month price increase since February 2022. After a year of fluctuating trends, this strong finish signaled a significant boost in home values and overall market activity. Both the average and median home prices saw double-digit increases, marking a noteworthy shift in the market. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241216011314.png" alt="" width="" height="" style=""></figure></div>​ In December 2024, the total number of homes sold reached 2,346. This was a 5.5% increase from the previous month’s total of 2,223 homes sold in November 2024. Compared to December 2023, when 2,324 homes were sold, this represented a modest 1.0% year-over-year increase. The upward trend in home sales suggested growing buyer confidence as the year came to a close. The average sold price for December 2024 was $616,500. This was a significant $59,108 jump from November 2024’s average of $557,392. This 10.6% month-over-month increase marked the highest spike in home prices since early 2022. Year-over-year, the average sold price was up by $65,694, representing an 11.9% increase from December 2023’s average of $550,806. These figures highlight a clear upward trend in property values in the Austin area. The median sold price also saw substantial growth, reaching $480,000 in December 2024. This was an $47,500 increase from the previous month’s median of $432,500, representing an 11.0% month-over-month gain. Compared to December 2023’s median price of $440,415, this reflected a 9.0% year-over-year increase. The rise in both average and median prices indicated strong demand across various price points in the market. In addition to rising prices, the sold-to-list price ratio for December 2024 remained consistent at 97.01%. This figure showed that, despite the increase in home values, buyers were still purchasing homes at prices very close to the original list prices. The slight dip from November 2024’s ratio of 97.14% suggested that while prices were climbing, sellers were maintaining realistic expectations. The December 2024 data underscored a strong finish to the year for the Austin real estate market. The combination of increased sales volume and rising prices suggested a renewed energy in the housing market. This surge could be attributed to a variety of factors, such as improved interest rates, seasonal buying patterns, and overall market confidence. With December 2024 marking the highest month-over-month increase since February 2022, it sets the stage for an interesting year ahead in Austin’s real estate market. As we head into 2025, buyers and sellers alike will be watching these trends closely. The data for December 2024 paints a picture of a market where demand is strong, prices are rising, and opportunities abound for those looking to buy or sell homes in the Austin area. Keep in mind that these prices are from December 01 2024 to December 16 2024; prices will change as properties sell between today (December 16 2024) and the end of the month. Stay tunned for updated sold data and visit our <a href="https://teamprice.com/market-cycle">Market Cycle</a> page which is updated daily (Monday through Friday).&nbsp;

Austin’s real estate market surged in December 2024 with the highest month-over-month price increase since February 2022. Average and median home prices jumped over 10%, reflecting strong buyer demand and market growth

Austin Home Prices See Highest Increase Since 2022 in December 2024

December 2024 Real Estate Insights: Activity Index at Six-Month High December 03, 2024 : The Austin-area real estate market shows signs of strengthening as of December 3, 2024, with key indicators reflecting improved conditions for both buyers and sellers. Two essential metrics—<a href="https://teamprice.com/real-estate-glossary/activity-index">Activity Index</a> and <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory</a>—highlight the current state of the market and provide a detailed look at recent trends in Austin real estate. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241203012342.png" alt="" width="" height="" style=""></figure></div> As of December 3, 2024, the Activity Index for the Austin area stands at 23.1%, marking its highest level since July 3, 2024, when it reached 23.3%. This index measures market demand by comparing the number of pending properties to the total active and pending listings. A higher Activity Index indicates increased buyer engagement, a key factor driving the current momentum in Austin area real estate. The recent rise in the Activity Index represents a significant recovery, especially when compared to its low point of 21.3% in mid-August 2024. Another critical indicator, the Months of Inventory for the <a href="https://teamprice.com/">Austin real estate market</a>, is now at 4.48 months. This is the lowest level since April 25, 2024, when it stood at 4.4 months. Months of Inventory measures the time it would take for all current listings to sell if no new properties were added to the market. A decrease in this metric suggests tighter inventory, with homes selling faster due to higher buyer demand. This decline is welcome news for sellers, as it points to a more competitive market that may lead to stronger offers. The <a href="https://teamprice.com/">Austin real estate market</a> has experienced a dynamic year, with fluctuations in both the Activity Index and Months of Inventory. During the summer months, the market softened, with the Activity Index dropping and inventory levels peaking at 5.48 months in mid-July 2024. However, the latter half of the year has seen a reversal of these trends. The Activity Index began to rise steadily, and inventory levels started to decline, reflecting a renewed balance between supply and demand in the Austin area real estate market. These positive shifts underscore the resilience of Austin real estate. Buyers are returning to the market with confidence, and sellers are benefiting from improved conditions. The current trends also align with seasonal patterns, as the fourth quarter traditionally brings heightened activity in preparation for the new year. For those navigating the Austin real estate market, these insights are invaluable. The improving Activity Index and tightening inventory suggest that buyers should act quickly to secure favorable deals, while sellers can leverage the competitive conditions to maximize value. Looking ahead, the Austin real estate market's trajectory will depend on broader factors such as interest rates, local economic conditions, and housing affordability, but the current data signals a strong finish to 2024​

December 03 2024 : Explore the latest Austin-area real estate trends for December 2024, including the highest Activity Index since July and the lowest Months of Inventory since April. Learn what this means for buyers and sellers in Austin real estate

Austin Real Estate Market Trends: December 2024 Insights on Activity Index and Inventory

Austin Housing Market Update: November 2024 Sees Decline in Inventory Levels The Austin housing market has experienced notable fluctuations in inventory levels over the past two decades, with recent data indicating a significant decrease as of November 2024. <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory (MOI)</a> is a key metric used to assess the balance between housing supply and demand. It represents the number of months it would take to sell all current listings at the prevailing sales pace, assuming no new properties enter the market. This measure helps categorize the market into seller's, neutral, or buyer's markets. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241127012813.png" alt="" width="" height="" style=""></figure></div> Historically, Austin's MOI has varied in response to economic conditions and market dynamics. Between 2005 and 2007, the MOI averaged around 4 to 5 months, indicating a balanced to seller's market. For instance, in January 2005, the MOI was 4.3 months, suggesting a seller's market. This trend continued through 2007, with January recording 3.7 months of inventory. The global financial crisis of 2008 led to a sharp increase in MOI, reflecting a shift toward a buyer's market. By May 2009, the MOI peaked at 7 months, highlighting an oversupply relative to demand. This period was characterized by economic uncertainty and reduced buyer activity. Recovery began in the early 2010s, with MOI gradually declining. By 2012, the MOI consistently fell below 5 months, returning the market to seller-favorable conditions. In January 2013, the MOI was at 2.6 months, indicating high demand and limited supply. This trend persisted through 2014 and 2015, with June 2015 recording an MOI of 4.3 months, maintaining a stable seller's market. The period from 2020 to 2022 marked historic lows in MOI, driven by unprecedented demand, low interest rates, and constrained supply. In January 2021, the MOI dropped to an extraordinary 0.8 months, signaling one of the most competitive seller's markets in recent history. This trend continued throughout 2021, with MOI remaining below 2 months for most of the year. In 2023, the market began to shift, with MOI increasing. By March 2023, the MOI rose to 3.7 months, indicating a transition toward more balanced conditions. As of November 2024, the market has experienced a notable decrease in inventory levels. The MOI has fallen to 4.7 months, down from 5.1 months in October 2024. This decline suggests a tightening market, with reduced supply relative to demand. Seasonal trends also influence MOI fluctuations. Typically, MOI rises during the summer months, peaking in May or June, and declines in the winter. For example, in December 2015, the MOI was at 3.3 months, while by June 2016, it had increased to 4.6 months. These patterns are consistent throughout the data set, reflecting the cyclical nature of real estate activity. Understanding MOI trends is essential for buyers, sellers, and industry professionals. This metric provides valuable insights into market competitiveness and aids in strategic decision-making. Whether navigating a low-inventory seller's market or preparing for a buyer's market with abundant supply, MOI remains a cornerstone for assessing market conditions.&nbsp;

Latest developments in the Austin housing market as of November 2024, highlighting a significant decrease in inventory levels. Understand how Months of Inventory (MOI) reflects current market conditions and what this means for buyers and sellers

Austin Housing Market Update: November 2024 Inventory Levels Decline

Understanding the Price-to-Rent Ratio in Austin: Insights Across 75 Zip Codes The Austin housing market is as dynamic as its growing population, and one key metric stands out for those evaluating whether to buy or rent: the <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratio</a>. This metric is calculated by dividing the median home price in an area by the annual cost of renting a comparable property. Understanding this ratio helps individuals make informed decisions, whether they are first-time buyers, seasoned investors, or long-term renters. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241126020605.png" alt="" width="" height="" style=""></figure></div> In Austin, the <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratio</a> varies significantly across its 75 zip codes. Areas with a ratio below 15 typically favor buying, as purchasing a home is more cost-effective than renting. For instance, in zip codes like 78724 and 78725, the ratio stands at 12.5. These neighborhoods represent some of the most affordable buying opportunities in the region. Similarly, other zip codes, including 78741 at 13.2 and 78753 at 13.5, offer attractive markets for prospective buyers seeking affordable homeownership options. For those exploring neighborhoods with a balanced market, the <a href="https://teamprice.com/price-to-rent-ratio">price-to-rent ratio</a> ranges from 15 to 20. In these areas, the decision to rent or buy depends on individual circumstances. Notable examples include zip code 78717 with a ratio of 18.8 and 78727 with a ratio of 18.9. These zip codes offer flexibility, allowing potential homeowners and renters to assess their financial goals and lifestyle preferences when making their decisions. On the other end of the spectrum, zip codes with a ratio above 20 suggest renting is more economical. These areas often feature higher <a href="https://teamprice.com/price-to-rent-ratio">home prices relative to rental costs</a>, making them ideal for those who prefer to avoid the financial commitment of homeownership. For example, 78703, with a ratio of 39.4, and 78746, with a ratio of 31.7, stand out as prime rental markets. These zip codes are often sought after for their upscale homes and desirable locations, which drive up property values more rapidly than rental rates. Across the Austin metropolitan area, the median price-to-rent ratio is approximately 19.9. This figure places the overall market in a balanced position, with certain neighborhoods tilting more toward renting or buying based on specific local conditions. For instance, Travis County, which encompasses many of Austin’s central zip codes, showcases a broad range of ratios. Zip codes like 78703 and 78746 reflect high ratios that favor renters, while 78744 at 16.0 and 78747 at 15.1 offer more favorable conditions for buyers. Williamson County offers similar diversity. Zip codes such as 78634 in Hutto and 78641 in Leander reflect balanced ratios, providing opportunities for both renters and buyers. Meanwhile, Hays County, which includes areas like Kyle and Buda, features lower ratios in zip codes like 78640 (14.0) and 78610 (14.2), indicating strong markets for buyers seeking affordability. Overall, 48% of Austin's zip codes fall below a ratio of 15, marking them as buyer-friendly. Another 29% fall within the balanced range of 15 to 20, where market conditions support either buying or renting. The remaining 23% exceed a ratio of 20, emphasizing the value of renting in premium areas. For investors, these metrics provide valuable insights into where rental properties may yield the highest returns. Low-ratio zip codes like 78725 and 78724 present strong rental income opportunities with affordable home prices. Conversely, renters looking to maximize their housing budget should focus on high-ratio areas like 78703, where the relative cost of renting remains favorable compared to buying. By understanding the price-to-rent ratio across Austin's zip codes, individuals can better navigate this competitive real estate market. Whether buying a first home, renting a luxury property, or investing in a rental unit, the price-to-rent ratio serves as a powerful tool to inform smarter decisions and optimize financial outcomes​

Explore the price-to-rent ratio across 75 Austin zip codes. Learn whether it’s better to buy or rent, with detailed data on housing affordability, market trends, and investment opportunities in Austin’s real estate market

Austin Price-to-Rent Ratio: Insights Across 75 Zip Codes

Austin-Area Real Estate Market Report: Trends in the Top 30 Cities November 21, 2024 : The real estate market in the Austin area continues to showcase a diverse range of opportunities for buyers and sellers alike. With the latest analysis of 30 cities, we see a spectrum of market conditions shaped by inventory levels, pricing trends, and demand patterns. Understanding these dynamics can help buyers, sellers, and investors navigate their decisions effectively. The cities analyzed are classified into three categories based on months of inventory: seller's markets, neutral markets, and buyer's markets. A seller’s market occurs when there is less than 4.9 months of inventory, signaling strong demand relative to supply. Neutral markets, with 5 to 6.9 months of inventory, represent a balance between buyers and sellers, while buyer’s markets, exceeding 7 months of inventory, indicate an oversupply of homes. Among the 30 cities in the Austin area, 40% are seller’s markets, 33% are neutral, and 27% are buyer’s markets, illustrating a varied landscape of real estate activity. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241121021044.png" alt="" width="" height="" style=""></figure></div> Austin, the region's flagship city, represents a neutral market with 5.04 months of inventory. The median home price stands at $599,000, and properties spend an average of 76 days on the market. Austin’s inventory and pricing balance make it an appealing market for both buyers seeking opportunities and sellers looking for competitive offers. <a href="https://teamprice.com/cities/georgetown-tx">Georgetown</a>, with 3.68 months of inventory, leans toward a seller’s market. This city sees a median home price of $515,000 and homes averaging 75 days on the market, reflecting steady demand. In contrast, cities like <a href="https://teamprice.com/cities/burnet-tx">Burnet</a> and <a href="https://teamprice.com/cities/spicewood-tx">Spicewood</a> experience slower market activity, categorizing them as buyer’s markets. Burnet has 11 months of inventory, a median price of $599,000, and properties lingering on the market for an average of 82 days. Similarly, Spicewood, with 11 months of inventory and a median price of $899,000, offers abundant options for buyers seeking more luxurious properties at potentially negotiable prices. Affordability plays a key role in driving market dynamics. For instance, <a href="https://teamprice.com/cities/jarrell-tx">Jarrell</a>, with a median price of $299,000, sees a brisker pace of sales, boasting just 2.87 months of inventory. Hutto, another affordable option, offers homes with a median price of $397,000 and maintains only 2.80 months of inventory. Both cities highlight the heightened activity in the lower price brackets, where demand often outpaces supply. Luxury markets such as <a href="https://teamprice.com/cities/driftwood-tx">Driftwood</a> and <a href="https://teamprice.com/cities/dripping-springs-tx">Dripping Springs</a> tell a different story. Driftwood’s median home price stands at $1.3 million, with 7.31 months of inventory reflecting a buyer’s market. Dripping Springs, though more balanced with 5.44 months of inventory, also caters to high-end buyers with a median price of $773,859. These areas demonstrate the slower turnover typically associated with higher price points. Price adjustments are another critical metric to evaluate market conditions. Several cities in the <a href="https://teamprice.com/cities/austin-tx">Austin</a> area have seen reductions in active listing prices to stimulate buyer interest. For example, <a href="https://teamprice.com/cities/lago-vista-tx">Lago Vista</a> reports an average price drop of 7.8%, equating to $75,000, while <a href="https://teamprice.com/cities/liberty-hill-tx">Liberty Hill</a> properties average an 8.3% reduction, or $60,000. Conversely, in competitive markets like <a href="https://teamprice.com/cities/Pflugerville-tx">Pflugerville</a>, price increases remain modest, with adjustments hovering around 3%. Median days on market also offer insights into transaction speed across different areas. <a href="https://teamprice.com/cities/buda-tx">Buda</a>, with just 64 days on the market, showcases its appeal to buyers, likely due to its combination of affordability and proximity to Austin. Similarly, <a href="https://teamprice.com/cities/Del-Valle-tx">Del Valle</a> sees homes selling within 68 days on average, bolstered by a median price of $369,990. On the other hand, markets like <a href="https://teamprice.com/cities/Wimberley-tx">Wimberley</a>, with 109 days, and Spicewood, with 122 days, reflect longer cycles, typical of higher-end and rural areas. Another layer of complexity emerges when comparing inventory levels with the average and median prices. Cities such as Pflugerville and <a href="https://teamprice.com/cities/Round-Rock-tx">Round Rock</a>, with 3.05 and 3.90 months of inventory respectively, have median home prices of $425,000 and $444,815. These cities represent strong opportunities for buyers and sellers alike, benefiting from stable pricing and lower-than-average inventory. The data also reveals an interesting distribution of active listings across price brackets. Cities like <a href="https://teamprice.com/cities/Cedar-Park-tx">Cedar Park</a> and <a href="https://teamprice.com/cities/Leander-tx">Leander</a>, with median prices of $550,000 and $542,865 respectively, showcase mid-tier market dynamics, attracting buyers who seek value near Austin. Meanwhile, Lockhart, with just 2.32 months of inventory and a median price of $334,950, offers affordable entry points for first-time buyers or investors. Overall, the Austin area’s real estate market presents a complex yet navigable environment. While cities like Austin and Georgetown maintain balanced conditions, places like Hutto and Jarrell emerge as hotspots for sellers. Meanwhile, buyers find leverage in markets like Burnet and Spicewood, where inventory levels remain high. By understanding the interplay between pricing, inventory, and demand, stakeholders can make informed decisions that align with their real estate goals.&nbsp;

Explore the latest real estate trends across 30 cities in the Austin area. Discover market conditions, pricing insights, and inventory levels to guide your buying or selling decisions

Austin-Area Real Estate Trends: Top 30 Cities Analysis

Austin Real Estate Market Update: November 2024 November 20, 2024 : The Austin-area real estate market is undergoing notable changes as November progresses. There are currently 13,740 <a href="https://teamprice.com/active-residential-listings">active residential properties for sale</a>, with 3,951 pending properties. This results in an Activity Index of 22.33%, a figure that highlights the ratio of pending properties compared to the total number of active and pending listings. This combination reflects a market with substantial inventory alongside steady buyer activity. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241120012703.png" alt="" width="" height="" style=""></figure></div> The <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">months of inventory (MOI) across the Austin</a> area averages 4.8 months, signaling a balanced market that favors neither buyers nor sellers. This is the lowest MOI since March 2024, indicating a shift toward more stable conditions. Across the 30 cities in Central Texas, months of inventory range widely—from a tight 2.35 months in high-demand areas to a substantial 11 months in markets with slower activity. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241120012601.png" alt="" width="" height="" style=""></figure></div> Home prices show a median sold price of $440,000 and an average sold price of $585,629. Compared to the market's peak in May 2022, the average sold price has dropped by 20%, creating improved affordability for buyers. Despite these adjustments, sellers continue to secure favorable results, with a sold-to-list price ratio of 97.10%, demonstrating that properties are generally selling close to their listed prices. The average time on the market is currently 70 days, underscoring the importance of competitive pricing and effective marketing strategies to achieve quicker sales. Additionally, 54.39% of active listings have seen price reductions, reflecting sellers’ willingness to adjust in response to market conditions and buyers’ focus on value. These patterns indicate that the Austin-area housing market is adjusting to evolving economic conditions, such as fluctuating interest rates and changing buyer demand. The balance reflected in the months of inventory suggests a stable environment, offering opportunities for both buyers and sellers to achieve their real estate goals.&nbsp;​

Discover the latest trends in the Austin real estate market for November 2024. Explore detailed data on inventory, pricing, days on market, and more, providing insights for buyers and sellers.

November 2024 Austin Real Estate Market Update: Key Trends and Insights

Austin's Top Appreciating Zip Code in 2024: A Closer Look at 78730 In the ever-changing Austin real estate market, the <a href="https://teamprice.com/data-analysis/78730">78730 zip code</a> has emerged as the best-performing area in terms of year-over-year appreciation. According to the latest data, the 78730 area has demonstrated remarkable growth, particularly when comparing the median sold price from last year to this year. This impressive performance highlights the continued strength of the 78730 market despite broader economic challenges faced by the Austin area. The annual compound growth rate for the <a href="https://teamprice.com/data-analysis/78730">78730 zip code</a> from 1999 to 2024 stands at 3.49%, reflecting steady and consistent long-term growth. However, what sets this area apart is the recent surge in the median sold price, making it the standout zip code in Austin for 2024. In 2023, the median sold price in 78730 was $995,000, showing a slight decline from previous highs. However, 2024 brought a strong recovery, with the median sold price jumping to $1,175,000, marking an impressive 18% increase compared to the previous year. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241111123841.png" alt="" width="" height="" style=""></figure></div> The historical data for 78730 reveals notable fluctuations and growth patterns that tell a broader story about this market's resilience. In the early 2000s, the area experienced rapid price increases, including a significant spike between 1999 and 2000, where the median sold price rose by 30%. This was followed by a period of market corrections in the mid-2000s, aligning with the nationwide housing downturn during the financial crisis. From 2007 to 2009, the area saw a sharp drop in both average and median sold prices, reflecting the broader economic recession. Despite these setbacks, the 78730 zip code rebounded strongly in the 2010s. The market showed consistent growth year after year, with a notable surge between 2013 and 2015. The average sold price climbed from $615,182 in 2013 to $657,770 in 2015, while the median sold price increased by 14% during the same period. This steady appreciation continued into the late 2010s, setting the stage for the dramatic gains seen during the COVID-19 pandemic. The impact of the pandemic on the Austin real estate market was profound, and the 78730 area was no exception. In 2020 and 2021, the zip code saw its largest gains in over a decade. The average sold price jumped by 22% in 2020, followed by a staggering 32% increase in 2021. During this time, median prices also soared, reaching a high of $975,000 in 2021. These figures underscore the surge in demand for homes in desirable, suburban areas like 78730, as buyers sought more space and quality amenities. However, 2022 brought a shift in the market. Rising interest rates and broader economic concerns led to a cooling of the real estate frenzy. The average sold price in 78730 fell by 4%, while the median sold price still managed a modest increase of 5%, showing that while demand softened, it remained relatively strong in this sought-after area. The following year, 2023, saw further declines in both average and median sold prices, reflecting the ongoing market adjustments and a return to more balanced conditions. The strong rebound in 2024 highlights the underlying demand and desirability of the 78730 area. This year, the median sold price climbed back up to $1,175,000, an 18% increase from the previous year, signaling renewed buyer confidence and likely reduced inventory levels. The growth in 2024 positions 78730 as the best-appreciating zip code in Austin, attracting both investors and homebuyers looking for long-term value in the market. Beyond the numbers, the 78730 zip code offers a lifestyle that draws residents year after year. The area includes some of Austin’s most desirable neighborhoods and subdivisions, such as <a href="https://teamprice.com/subdivisions/river-place">River Place</a>, Long Canyon, Westminster Glen, Shepherd Mountain, and Glenlake Estates. These communities feature a mix of luxury homes, spacious lots, and scenic views of the Texas Hill Country. Residents enjoy close proximity to outdoor attractions like Emma Long Metropolitan Park, which offers miles of hiking trails, waterfront activities along Lake Austin, and picnic areas perfect for family outings. Another unique aspect of the 78730 zip code is its easy access to major roadways like RM 2222 and Loop 360, providing convenient commutes to downtown Austin and the Domain. The area is also known for its top-rated schools, making it a popular choice for families. The natural beauty, combined with upscale amenities and excellent connectivity, makes 78730 one of the most sought-after and appreciated zip codes in the city. In summary, the 78730 zip code has shown remarkable resilience and consistent growth over the past two decades, with significant appreciation, particularly in 2024. This data-driven analysis highlights the market's ups and downs but ultimately shows a strong upward trend. Buyers and investors looking at the Austin real estate market would be wise to consider the 78730 area, which continues to demonstrate its strength and potential for future appreciation.&nbsp;

Explore why Austin’s 78730 zip code stands out as the top appreciating area in 2024. Detailed analysis of home prices, neighborhood amenities, and historical trends make 78730 a must-watch market for buyers and investors

78730: Austin’s Top Appreciating Zip Code in 2024

Austin Real Estate Market Update: Shifting Back to a Seller's Market November 09, 2024 : The Austin real estate market is showing significant signs of change as the latest data reveals a dip in the <a href="https://teamprice.com/real-estate-glossary/months-of-inventory">Months of Inventory (MOI)</a> to 4.96. This shift marks a return to a seller's market, highlighting a balance tipped in favor of sellers after a period of higher inventory levels throughout much of 2023 and early 2024. The Months of Inventory is a crucial metric in real estate that measures how long it would take to sell all active listings at the current sales pace, and a figure below 5 months typically indicates strong demand, favoring sellers. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241109015305.png" alt="" width="" height="" style=""></figure></div> Over the past two decades, Austin's real estate market has experienced various cycles, from the stability of the mid-2000s to the turbulence of the financial crisis, and the booming seller's market during the pandemic years. Historically, the Austin area has seen MOI fluctuate based on broader economic trends, local housing demand, and changing interest rates. For context, during the financial crisis in 2009-2011, the MOI surged to levels as high as 8.6 months, reflecting a sharp drop in buyer demand and a significant increase in available listings. In stark contrast, the pandemic-driven market of 2020-2021 recorded some of the lowest inventory levels in history, with MOI dropping to as low as 0.7 months, driven by a surge in buyer demand and limited new listings.​The current MOI of 4.96 suggests a market dynamic where demand is rising again, possibly due to more stable interest rates and a rebound in buyer confidence. This figure signals a shift back from the neutral and buyer-leaning market conditions observed earlier this year, where MOI was often above 5 months. The recent decline below the 5-month threshold suggests a tightening market where sellers have more leverage, and properties are moving at a quicker pace.​In November 2024, the Austin area has 14,136 active residential listings, indicating a robust level of inventory compared to the peak crisis levels of 2010 but still below the highs of the past year. Despite the elevated inventory, the declining MOI points to increased absorption rates, which means that more buyers are entering the market, and properties are being sold at a faster rate. This change is significant because a higher absorption rate usually correlates with a decrease in the number of days properties spend on the market, often resulting in upward pressure on prices. <div class="se-component se-image-container __se__float-center"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20241109015449.png" alt="" width="" height="" style=""></figure></div>​The analysis of the market data from 2005 to 2024 reveals several key trends. From 2005 to 2008, the market was relatively stable, with MOI hovering around 4-5 months, which is consistent with a balanced market where supply and demand are nearly equal. However, the economic downturn in 2008 led to a sharp increase in inventory levels, peaking in mid-2010 at 8.6 months. This represented a strong buyer’s market, where the number of available homes far exceeded the demand, giving buyers considerable negotiating power.​Following the recovery period from 2012 onwards, the Austin market experienced a gradual tightening. From 2012 to 2019, the MOI consistently stayed below 5 months, marking a prolonged seller’s market as the local economy strengthened and demand outpaced supply. This trend was further exacerbated during the COVID-19 pandemic, when record-low interest rates and heightened demand led to an unprecedented reduction in inventory, with MOI figures consistently below 2 months.​In 2023 and early 2024, there was a noticeable shift, with inventory levels rising and the market moving toward a neutral stance. However, as of November 2024, the MOI’s drop to 4.96 indicates a resurgence of buyer activity. This suggests that buyers are adjusting to the current mortgage rates, and many are capitalizing on the relative affordability improvements compared to the price peaks seen during the height of the pandemic boom.​The market's current conditions align with trends seen in 2013-2014, where MOI hovered around 4-5 months, indicating a slightly seller-favored environment. Unlike that period, however, the macroeconomic landscape today includes higher interest rates, which have been a major factor affecting affordability and buyer sentiment. Despite these challenges, the sustained demand and strong absorption rates reflect a resilient housing market supported by ongoing in-migration, strong employment figures, and a robust local economy in Austin. Looking ahead, the months of November and December often see seasonal slowdowns, but if the current trend of declining MOI persists, it may point to stronger underlying demand heading into early 2025. The ongoing absorption of inventory, coupled with stable demand, could result in increased competition among buyers, especially if the Federal Reserve signals any potential adjustments to interest rates. The upcoming months will be critical to observe as these factors play out, shaping the market dynamics for the new year. Overall, the latest data shows that the Austin real estate market is making a notable shift back towards a seller’s market. The MOI at 4.96 indicates strong buyer activity and a tightening of supply, which could lead to stabilizing or even rising home prices in the near future. This change, while subtle, may signal the beginning of a new phase in the Austin housing market cycle.&nbsp;

The latest Austin real estate market update reveals a shift back to a seller’s market, with Months of Inventory (MOI) dropping to 4.96 in November 2024. Active residential listings remain steady at 14,136, while increased absorption rates highlight rising buyer demand. Discover how these trends may impact home prices and the Austin housing market moving into 2025.

Austin Real Estate Market Update: Seller’s Market Returns as Inventory Falls in November 2024

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