1 min read

Good News for Buyers & Sellers

Leslie Cidale : Feb 28, 2024 12:11:55 PM

real estate trends real estate Austin, Texas housing market

January brought good news for both buyers and sellers of Austin real estate. According to the latest data from realtor.com, Austin is among a handful of metro areas where 2024 inventory levels have thus far surpassed numbers from pre-pandemic years, with an 8.2% increase compared to typical levels from 2017 to 2019. This marks a significant improvement, highlighting the city's robust market dynamics amid broader national trends of inventory shortages.

While the overall number of homes for sale and new listing activity are on the rise, prices remain relatively stable with only a modest increase. The median price of homes in Austin has grown by 1.4% year-over-year, indicating a steady market without the rapid price escalations seen in previous years. Moreover, homes in Austin are spending fewer days on the market compared to last year, suggesting strong buyer demand and a competitive market environment.

The trend toward increased inventory and relatively stable prices is a positive sign for both buyers and sellers in the Austin area. For buyers, the growth in inventory suggests more options and potentially less competition for individual listings. For sellers, the market remains favorable, with homes selling relatively quickly and at stable prices.

As we navigate the months ahead, the Austin real estate market appears poised for continued growth and vitality. For those considering buying or selling in the area, the current market conditions offer a unique set of opportunities and challenges, underscoring the importance of staying informed and working with experienced professionals to navigate the market successfully.

Click to Subscribe