April 2024 Central Texas Housing Market Report

by TJ Lewis Real Estate

Austin area experiences boost in sales as median price holds steady

In April, closed listings across the Austin-Round Rock-Georgetown MSA increased 5.9% to 2,708 sales, the highest year-over-year increase in residential homes sold this year, while the median home price rose 1.1% to $469,998. The data demonstrates that there is a collective sense of confidence and optimism in the housing market among both homebuyers and sellers according to the latest Central Texas Housing Report.

Clare Losey, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS^®, provided insight into the sales growth across the MSA and what’s to come regarding interest rates.

“The MSA experienced an increase in sales, indicating more opportunity in the market for all buyers. Despite the higher rate environment, the uptick in affordable inventory in the $300,000 range is allowing more first-time buyers to achieve homeownership. As we progress through the year, mortgage rates are expected to remain elevated with a slight possibility of a gradual decrease, which would result in an increase in buyers’ purchasing power.”

Kent Redding, 2024 Unlock MLS and ABoR president, noted that there is still significant work to be done to address Austin’s affordability issue.

“While we are excited to see more housing options emerge for buyers across the MSA, more work still needs to be done to create opportunities for homeownership within the city of Austin, particularly for first-time buyers, teachers, first responders and others who are finding it difficult to afford a home here. Our community needs to come together to advocate for housing reforms that allow for more types of housing across the city so that Austin’s future is one where everyone can afford to call the city home.”

Austin Round-Rock-Georgetown MSA

2,708 – Residential homes sold, 5.9% more than April 2023.
$469,998 – Median price for residential homes, 1.1% more than April 2023.
5,131 – New home listings on the market, 26.1% more than April 2023.
10,808 – Active home listings on the market, 31.9% more than April 2023.
3,161 – Pending sales, 2.5% more than April 2023.
4.3 – Months of inventory, 1.2 months more than April 2023.
$1,645,030,091 – Total dollar volume of homes sold, 8.9% more than April 2023.
95.6% – Average close to list price, compared to 93.8% in April 2023.

City of Austin

992 – Residential homes sold, 33.2% more than April 2023.
$593,500 – Median price for residential homes, 6.0% more than April 2023.
2,046 – New home listings on the market, 51.8% more than April 2023.
4,113 – Active home listings on the market, 75.3% more than April 2023.
1,091 – Pending sales, 18.7% more than April 2023.
5.4 – Months of inventory, 2.3 months more than April 2023.
$791,918,959 – Total dollar volume of homes sold, 45.9% more than April 2023.
95.3% – Average close to list price, compared to 95.4% in April 2023.

Travis County

1,260 – Residential homes sold, 8.8% more than April 2023.
$540,185 – Median price for residential homes, 1.9% more than April 2023.
2,585 – New home listings on the market, 27.3% more than April 2023.
5,507 – Active home listings on the market, 39.6% more than April 2023.
1,421 – Pending sales, 1.9% less than April 2023.
4.8 – Months of inventory, 1.5 months more than April 2023.
$943,951,335 – Total dollar volume of homes sold, 14.1% more than April 2023.
95.1% – Average close to list price, compared to 94.6% in April 2023.

Williamson County

939 – Residential homes sold, 4.9% more than April 2023.
$435,000 – Median price for residential homes, 2.5% less than April 2023.
1,518 – New home listings on the market, 23.0% more than April 2023.
2,936 – Active home listings on the market, 26.3% more than April 2023.
1,036 – Pending sales, 0.5% more than April 2023.
3.4 – Months of inventory, 0.8 months more than April 2023.
$458,816,371 – Total dollar volume of homes sold, 2.5% more than April 2023.
96.4% – Average close to list price, compared to 93.2% in April 2023.

Hays County

348 – Residential homes sold, 0.9% more than April 2023.
$408,169 – Median price for residential homes, 1.6% less than April 2023.
740 – New home listings on the market, 47.1% more than April 2023.
1,662 – Active home listings on the market, 29.3% more than April 2023.
500 – Pending sales, 22.2% more than April 2023.
4.5 – Months of inventory, 1.0 months more than April 2023.
$181,672,755 – Total dollar volume of homes sold, 4.3% more than April 2023.
95.3% – Average close to list price, compared to 93.2% in April 2023.