In July 2024, the Austin-Round Rock-San Marcos housing market showed a slight decrease in overall sales, with 2,652 closed listings, marking a 3.5% decline compared to last year. However, the market saw growth in Williamson, Hays, Bastrop, and Caldwell counties as buyers continued to seek out more affordable housing options. According to Unlock MLS' July Central Texas Housing Report, the demand for homes in Central Texas remains strong despite consistently high mortgage rates.

"Consistently high mortgage rates continue to impact buyers’ purchasing power, but July's increase in sales in four of the five MSA counties shows the strength of Central Texas housing demand," said Clare Knapp, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS®. "While rates hover around 6.5%, home prices across the market still need to adjust to match buyers' current purchasing power. It's encouraging to see more first-time buyers entering the market this year compared to last."

Kent Redding, 2024 ABoR and Unlock MLS president, emphasized the resilience of outlying counties: "Buyers are finding affordable housing options in areas outside of Travis County. When a home is priced correctly, buyers are ready to move. REALTORS® are crucial in guiding both buyers and sellers through today's market dynamics."

Austin-Round Rock-San Marcos MSA Market Overview

  • Residential Homes Sold: 2,652 (3.5% decrease from July 2023)

  • Median Price: $450,000 (2.8% decrease from July 2023)

  • New Listings: 3,812 (0.3% decrease from July 2023)

  • Active Listings: 12,661 (20.3% increase from July 2023)

  • Pending Sales: 2,567 (5.1% decrease from July 2023)

  • Months of Inventory: 5.1 months (1.0 months more than July 2023)

  • Total Dollar Volume: $1,530,599,967 (6.6% decrease from July 2023)

  • Average Close to List Price: 94.2% (compared to 94.6% in July 2023)

City of Austin Market Breakdown

  • Residential Homes Sold: 880 (10.3% decrease from July 2023)

  • Median Price: $585,000 (1.7% increase from July 2023)

  • New Listings: 1,359 (7.6% decrease from July 2023)

  • Active Listings: 4,862 (23.8% increase from July 2023)

  • Pending Sales: 834 (14.4% decrease from July 2023)

  • Months of Inventory: 5.8 months (1.3 months more than July 2023)

  • Total Dollar Volume: $662,787,575 (10.3% decrease from July 2023)

  • Average Close to List Price: 93.7% (compared to 94.5% in July 2023)

Travis County

  • Residential Homes Sold: 1,155 (11.9% decrease from July 2023)

  • Median Price: $525,000 (1.9% decrease from July 2023)

  • New Listings: 1,771 (4.8% decrease from July 2023)

  • Active Listings: 6,364 (22.1% increase from July 2023)

  • Pending Sales: 1,140 (9.2% decrease from July 2023)

  • Months of Inventory: 5.8 months (1.3 months more than July 2023)

  • Total Dollar Volume: $808,167,486 (13.4% decrease from July 2023)

  • Average Close to List Price: 93.8% (compared to 94.2% in July 2023)

Williamson County

  • Residential Homes Sold: 943 (3.8% increase from July 2023)

  • Median Price: $428,500 (0.3% decrease from July 2023)

  • New Listings: 1,263 (2.4% increase from July 2023)

  • Active Listings: 3,607 (16.5% increase from July 2023)

  • Pending Sales: 885 (1.3% decrease from July 2023)

  • Months of Inventory: 4.1 months (0.7 months increase from July 2023)

  • Total Dollar Volume: $460,424,579 (1.5% increase from July 2023)

  • Average Close to List Price: 94.6% (compared to 95.9% in July 2023)

Hays County

  • Residential Homes Sold: 401 (4.5% increase from July 2023)

  • Median Price: $385,500 (3.6% decrease from July 2023)

  • New Listings: 549 (7.4% increase from July 2023)

  • Active Listings: 1,889 (20.7% increase from July 2023)

  • Pending Sales: 375 (5.8% decrease from July 2023)

  • Months of Inventory: 5.2 months (0.8 months more than July 2023)

  • Total Dollar Volume: $202,145,525 (2.9% increase from July 2023)

  • Average Close to List Price: 94.2% (compared to 93.6% in July 2023)

Bastrop County

  • Residential Homes Sold: 116 (4.8% increase from July 2023)

  • Median Price: $343,745 (6.5% decrease from July 2023)

  • New Listings: 173 (2.4% increase from July 2023)

  • Active Listings: 652 (26.1% increase from July 2023)

  • Pending Sales: 120 (3.4% increase from July 2023)

  • Months of Inventory: 6.0 months (0.8 months more than July 2023)

  • Total Dollar Volume: $47,511,644 (1.3% increase from July 2023)

  • Average Close to List Price: 94.1% (compared to 92.8% in July 2023)

Caldwell County

  • Residential Homes Sold: 36 (12.5% increase from July 2023)

  • Median Price: $291,000 (2.4% decrease from July 2023)

  • New Listings: 56 (14.3% increase from July 2023)

  • Active Listings: 149 (12.0% increase from July 2023)

  • Pending Sales: 47 (20.5% increase from July 2023)

  • Months of Inventory:3.8 months (1.6 months decrease from July 2023)

  • Total Dollar Volume: $12,350,734 (22.5% increase from July 2023)

  • Average Close to List Price: 95.1% (compared to 95.5% in July 2023)

As home prices continue to adjust to changing market conditions, it’s essential for both buyers and sellers to stay informed. Whether you're looking to purchase your first home or thinking of selling, understanding these market trends will help you make smarter decisions.

Ready to explore your options in Central Texas real estate? Contact our team today for personalized advice and expert guidance to navigate the current market.