Austin's housing market: How quickly are homes selling, and for how much?
Nov 13, 2024
This story is part of the KXAN Data Hub, where numbers help tell the whole story.We've created several data-driven stories and databases on topics including weather and climate, politics, education, sports and growth in Texas. Each story in the KXAN Data Hub is updated as new data becomes available.
AUSTIN (KXAN) — For years, the Austin area has been one of the most sought-after metros in the country when it comes to real estate.
Exacerbated by the COVID-19 pandemic, home prices in the area soared to record highs in 2022, as the number of homes on the market plummeted.
At KXAN, we're keeping track of home prices, and several other data points, to help buyers and sellers stay on top of trends in the market. The charts below will be updated each month as new data is released by the Austin Board of Realtors (ABoR), Zillow and Realtor.com.
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How much are homes selling for?
ABoR releases data each month showing the median sale price for homes in each county in the Austin metro area: Bastrop, Caldwell, Hays, Travis and Williamson. Sales within the City of Austin itself are also shown on the chart below. As of October 2024, the median sales price for the Austin metro as a whole was $430,000, down 3.2% year-over-year. The median sales price is highest in the city of Austin itself, at $565,000, and lowest in Caldwell County, at $262,990.
How long are homes taking to sell?
ABoR also tracks how long homes are taking to sell in the Austin metro as a whole. As of October 2024, homes in the Austin metro are on the market for an average of 70 days.
Realtor.com has more localized data, showing how long homes are taking to sell in each zip code across the KXAN viewing area. As of October 2024, homes in 78622 are on the market for the longest (average of 215 days), while homes in 78719 are on the market for the shortest amount of time (average of 2 days).
How many homes are for sale?
The chart below has data from ABoR showing how many active listings are were in each of the metro's counties. As of October 2024, there are 11,599 active listings across the Austin metro. Travis County has the most, with 5,702 active listings.
ABoR also tracks how many homes are newly listed each month. The chart below shows large seasonal variations, with more homes typically listed during summer months and fewer during winter months. In October 2024, 3,333 new homes were listed across the Austin metro. Travis County had the most new listings, at 1,579.
The chart below shows the months of housing inventory in each county in the Austin metro. ABoR defines this as the number of months it would take for all homes currently on the market to sell, given the current sales pace. As of October 2024, the Austin metro as a whole had 5.1 months of housing inventory. The city of Austin has the most, at 5.9 months, while Caldwell County has the least, at 4.1 months of inventory.
How much are homes worth?
Each month, real estate website Zillow releases new data showing home values across the country. The map below shows the 'Zillow Home Value Index' in each local zip code — a measure of the value of a typical home. As of October 2024, homes in 78746 are worth the most, with a typical home value of $1,699,249.07. Homes in 76877 are worth the least, with a typical home value of $155,548.84.
ABoR, Realtor.com and Zillow all release now housing market data each month. The charts in this story will be updated as new data becomes available.