Austin, TX Real Estate Listings & Homes for Sale

In February 2024, the Austin real estate market saw a 3.2% decrease in home prices compared to the same period the previous year, with homes selling at a median price of $522,000. Homes in Austin typically stayed on the market for 82 days before selling, which is a slight improvement from the 86 days observed last year. Moreover, the number of homes sold in February this year rose to 701, up from 630 homes sold in February of the previous year, indicating a growing transaction volume despite the dip in prices. This trend suggests a resilient market activity with an increasing number of buyers and sellers successfully closing deals.

The Austin real estate market exhibits a moderate level of competitiveness, with properties typically being sold within 76 days. A portion of these homes receive multiple offers, indicating a certain degree of competition among buyers. On average, homes in Austin sell for approximately 3% below their listed price and generally go under contract in about 76 days. However, highly sought-after homes, often referred to as "hot homes," have the potential to sell at around their listing price and may go pending significantly faster, typically within 33 days. This suggests that while the market is competitive, particularly desirable properties can still command strong interest and achieve swift sales.

Nationally, 1% of homebuyers showed interest in relocating to Austin from other metropolitan areas. The largest group of these prospective buyers came from San Francisco, making it the leading external metro whose residents are considering Austin as their new home. Following San Francisco, Los Angeles and Seattle were the next most common origins for individuals looking to move to Austin, indicating a significant interest from the west coast in the Austin real estate market.