Austin Real Estate Weekly Market Update - January 09, 2025

by: Team Price Real Estate, Austin's leading data analysis brokerage, where data drives exceptional service
Published on: Thursday, January 09, 2025 at 12:49 pm

Team Price Real Estate remains steadfast in its commitment to providing the most accurate and up-to-date market insights for the Austin-area real estate market. With 2025 underway, our latest report delivers a comprehensive analysis of the region’s trends, equipping buyers, sellers, and agents with actionable data to make informed decisions in a dynamic environment.

Updated Market Overview

The Austin-area real estate market is reflecting notable shifts as we move further into 2025. The total number of active listings across the Austin-area MLS has increased to 11,241, a 6.76% rise from last year’s 10,529 listings. Months of Inventory currently stands at 3.91 months, a 7.35% increase from 3.64 months in 2024. In the City of Austin, active listings have risen by 3.74%, from 2,808 in 2024 to 2,913 this year. Months of Inventory within the city has remained relatively stable, moving slightly from 3.41 months to 3.45 months, marking a 1.26% increase.

Pricing Dynamics in Austin Real Estate

Average and median home prices across the Austin-area MLS have experienced slight adjustments year-over-year. The average list price for active homes is now $573,123, reflecting a 3.11% increase from $555,823 last year. Similarly, the average sold price has risen to $551,054, a 3.40% year-over-year growth. The median list price, however, has decreased by 1.12%, moving from $445,000 in 2024 to $440,000 in 2025. The median sold price has also experienced a marginal decline, dropping by 0.12% to $427,868.

In the City of Austin, price dynamics show more pronounced growth. The average list price for active homes has climbed to $790,178, an 8.17% increase from $730,525 last year. The median list price now stands at $585,000, marking a 4.00% rise. The average sold price has increased by 8.20%, moving from $697,782 in 2024 to $754,989 this year. Similarly, the median sold price has risen to $565,341, reflecting a 4.60% year-over-year increase.

City and Regional Dynamics

Market trends across the Austin-area MLS continue to show variability. Among the 30 cities analyzed, 33% experienced month-over-month price increases, while 57% saw decreases. Year-over-year, 40% of cities recorded price growth, while 60% saw declines. Over the past 12 months, all but four cities have experienced price decreases from their peak values, underscoring the ongoing market adjustments.

In the broader context of 75 zip codes within Central Texas, 41% reported month-over-month price increases, while 43% recorded decreases. Year-over-year, price changes were more balanced, with 51% of zip codes showing growth and 49% experiencing declines. Eleven zip codes have seen price increases from their peak values in the past year, while 64 remain below their peak.

Central Texas Cities and Zip Code Analysis

The nuanced nature of the Central Texas real estate market is evident in its city and zip code-level data. While some areas demonstrate resilience, others continue to adjust. Over the past 12 months, the majority of cities and zip codes have seen declines from their peak values. These trends highlight the importance of localized analysis when navigating the real estate market.

Sales vs. List Price Analysis

Buyer activity across the Austin-area MLS underscores evolving pricing negotiations. This month, 74.58% of sold properties closed below their list price, an increase from 71.59% last month. Properties selling at their list price accounted for 16.10% of transactions, a decline from 18.07% last month. Meanwhile, 9.32% of sold properties closed above their list price, down slightly from 10.34% last month. The current average sold price to list price ratio stands at 95.80%.

Peak Value Analysis: Austin-Area MLS

In the Austin-area MLS, prices remain below their peak values reached in previous years. The average list price peaked at $708,929 in March 2023 and has since dropped by 10.51% to $634,394. Similarly, the median list price reached a high of $539,900 in May 2022 and has decreased by 12.08% to $474,685. The average sold price peaked at $664,515 in May 2022 and has fallen by 19.03% to $538,067. Median sold prices have seen a decline of 22.86%, moving from $538,000 to $415,000. The average sold price per square foot has dropped from $324 to $250, while the median price per square foot has decreased from $280 to $212.

Peak Value Analysis: City of Austin

Within the City of Austin, price adjustments have been less steep compared to the broader MLS. The average list price peaked at $945,489 in April 2024 and has since decreased by 7.02% to $879,071. The median list price reached its highest point at $658,589 in May 2022 and has dropped by 7.38% to $610,000. The average sold price has fallen by 10.88% from its peak of $847,583 in May 2022 to $755,332. Median sold prices have decreased by 18.38%, moving from $680,000 to $555,000. The average sold price per square foot has declined by 23.08% from $442 to $340, while the median price per square foot has decreased by 26.21%, moving from $393 to $290.

The Austin-area real estate market continues to adapt to changing dynamics, with rising inventory levels and evolving price trends signaling a more balanced environment. Team Price Real Estate remains committed to delivering the insights you need to navigate this ever-changing landscape. Whether you’re buying, selling, or advising clients, staying informed is key to success in 2025’s real estate market. Our data-driven approach ensures you have the tools to make confident and strategic decisions.