Austin remains one of the most desirable metro areas for real estate in the U.S. despite recent shifts in the market. Exacerbated by the COVID-19 pandemic, Austin saw record-high home prices in 2022, but as of August 2024, prices have cooled slightly. The median sales price for the Austin metro area is now $439,990, down 4.4% year-over-year. Homes are taking an average of 70 days to sell, with inventory levels increasing to 4.9 months. We’ll explore the latest data from ABoR, Zillow, and Realtor.com to keep buyers and sellers informed of the latest trends.

Austin’s Housing Market: Prices, Selling Times, and Listings

For years, Austin has been one of the most popular metro areas for real estate in the U.S. During the COVID-19 pandemic, home prices skyrocketed as available listings dwindled, hitting record highs in 2022. As the market cools, we’re keeping track of key housing data to help buyers and sellers stay informed. Updated monthly, this report provides insights into home prices, selling times, and housing inventory in the Austin metro area, with data from the Austin Board of Realtors (ABoR), Realtor.com, and Zillow.

How Much Are Homes Selling For?

Each month, ABoR releases data on median sale prices across the Austin metro area, including Bastrop, Caldwell, Hays, Travis, and Williamson counties. As of August 2024, the median sale price in the Austin metro was $439,990, a 4.4% decrease from last year. Home prices within the City of Austin are the highest, with a median of $585,000, while Caldwell County recorded the lowest median price at $294,495.

How Long Are Homes Taking to Sell?

The time homes spend on the market is a key indicator of demand. As of August 2024, the average time on the market in the Austin metro area is 70 days. Realtor.com provides more localized data by zip code, showing that homes in zip code 76869 are on the market the longest, averaging 319 days, while homes in 78953 sell the fastest, averaging just 10 days on the market.

How Many Homes Are for Sale?

As of August 2024, the Austin metro had 12,334 active listings, with Travis County leading at 6,016 active homes for sale. ABoR also tracks new listings each month, revealing seasonal trends. In August 2024, 3,781 new homes were listed in the Austin area, with 1,695 of those in Travis County.

Housing Inventory in the Austin Metro

Housing inventory, measured by the number of months it would take to sell all active listings at the current pace, is an important market indicator. As of August 2024, the Austin metro had 4.9 months of inventory, signaling a market slightly favoring sellers. Bastrop County had the highest inventory at 6.9 months, while Caldwell County had the lowest at 2.9 months.

How Much Are Homes Worth?

Each month, Zillow updates home values across the U.S. through its Zillow Home Value Index (ZHVI), which estimates the typical value of a home. As of August 2024, homes in Austin’s 78746 zip code had the highest typical home value at $1,716,070.48, while homes in 76877 were valued the lowest at $160,355.83.

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