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    • Ryan Kelly(325) 518-1294
      ryan@teamprice.com
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    • Team Price Real Estate
      7320 N Mo-Pac
      Austin, TX 78731
      (512) 213-0213
      dan@teamprice.com

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      Central Texas Multiple Listing Service

      Central Texas MLS | Four Rivers Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Ryan Kelly may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2022 All rights reserved.

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      © 2023 North Texas Real Estate Information Systems, Inc. All rights reserved. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Ryan Kelly shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The database information herein is provided from and copyrighted by the North Texas Real Estate Information Systems, Inc. NTREIS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. The advertisements herein are merely indications to bid and are not offers to sell which may be accepted. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright

      Austin Board of Realtors

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      Weekly Austin Real Estate Market Update

      September 26, 2024

      Austin Real Estate Weekly Market Update - September 26, 2024

      by: Team Price Real Estate, Austin's leading data analysis brokerage, where data drives exceptional service
      Published on: Thursday, September 26, 2024 at 12:41 pm


      Updated Market Overview

      The Austin-area MLS has experienced a 12.9% increase in active listings over the past year, rising from 13,288 in 2023 to 15,004 in 2024. This increase in listings has impacted the Months of Inventory, which measures how long it would take to sell all current listings at the current sales pace. The Months of Inventory has grown from 4.60 months in 2023 to 5.16 months in 2024, a 12.1% increase. This indicates more housing supply is available in the market compared to the same time last year.

      Pricing Dynamics in Austin Real Estate

      In terms of pricing, the Austin-area MLS has seen a decline in both average and median active prices. The average active listing price decreased by 3.6%, from $589,242 in 2023 to $567,850 in 2024. The median active price fell by 3.5%, moving from $454,369 to $438,480. The average sold price also dropped by 4.0%, from $569,993 in 2023 to $547,179 in 2024, while the median sold price fell by 4.1%, from $443,395 to $425,000.

      City and Regional Dynamics

      Within the city of Austin, the total number of active listings has grown by 15.0%, rising from 3,923 in 2023 to 4,512 in 2024. The Months of Inventory in the city has also increased, going from 4.60 months in 2023 to 5.26 months in 2024, marking a 14.4% rise. Despite the increase in inventory, home prices in Austin have shown growth. The average active price in the city has risen by 1.1%, now at $779,186, and the median active price has increased by 3.4%, reaching $609,000. The average sold price in Austin has also gone up slightly by 0.8%, reaching $747,731, while the median sold price rose by 4.1%, now at $598,307.

      Central Texas Cities and Zip Code Analysis

      Across Central Texas, pricing trends have varied by city and zip code. Among the 30 cities analyzed, 43% experienced month-over-month price increases, while 53% saw price decreases. On a year-over-year basis, 47% of cities reported price growth, while 53% saw price declines. None of the cities analyzed have experienced price increases from their peak values over the past 12 months, with all 30 cities showing price declines from their highest points.

      When looking at the 75 zip codes in Central Texas, 47% reported month-over-month price growth, while 53% experienced declines. Year-over-year, 43% of zip codes saw price increases, while 57% experienced price decreases. Similar to the cities, none of the zip codes have reached new peak values, and 71 out of the 75 have seen declines from their peak prices.

      Sales vs. List Price Analysis

      The average sold price to list price ratio in the Austin-area MLS currently stands at 97.22%. So far this month, 64.62% of properties have sold below the list price, slightly down from 65.14% last month. Properties selling at the list price make up 22.13% of sales, a slight increase from 21.13% the previous month. Meanwhile, 13.25% of properties have sold above the list price, a small decrease from 13.72% last month. For comparison, in July 2023, 15.56% of properties sold above the list price.

      Peak Value Analysis: Austin-Area MLS

      When comparing current prices to their peak values, the Austin-area MLS has seen notable declines. The average list price peaked in April 2024 at $709,582 but has since fallen to $663,284, representing a 6.5% drop. The median list price reached its highest point in May 2022 at $539,900 and has dropped by 13.9%, now sitting at $464,500. The average sold price peaked in May 2022 at $664,515 but has since decreased by 18.2%, now at $543,800. The median sold price has fallen by 21.1%, dropping from its peak of $538,000 in May 2022 to $424,664. Both the average and median sold price per square foot have also dropped, with the average decreasing by 21.9% and the median by 21.8% from their peak levels.

      Peak Value Analysis: City of Austin

      Within the city of Austin, the average list price peaked in April 2024 at $948,362 and has since slightly decreased to $923,570, reflecting a 2.6% decline. The median list price reached its highest point in May 2022 at $658,589 and has dropped by 5.1%, now sitting at $625,000. The average sold price in the city peaked in May 2022 at $847,583 and has since fallen by 13.5%, now at $733,275. The median sold price has dropped by 14.7%, falling from its peak of $680,000 in May 2022 to $580,000. The average and median sold price per square foot have also seen declines, with the average down by 21.3% and the median by 21.6% from their peak values

      This updated data reflects the current state of the Austin-area real estate market and provides insight into how inventory and pricing trends are evolving. The following report, with over 700 pages, dives deep into every facet of the Austin real estate market, focusing on market cycles, affordability, and interest rates, providing essential insights for informed decision-making. Team Price Real Estate, with its expertise and data-driven approach, continues to uphold its commitment to "Where Experience Meets Insight," delivering exceptional service in the Austin real estate market.

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