Austin-area housing market sees hopeful trends heading into summer
In May, new listings rose 8.9% to 5,716 listings, increasing housing inventory to 5.0 months, 1.0 month more than May 2024. At the same time, home sales dipped 3.8% to 3,021 sales, while the median sales price edged down 1.6% to $449,900. Despite modest declines in sales and prices, the market is showing signs of resilience as pending sales climbed 16.1% to 4,515—the strongest month of the year so far.
Clare Knapp, Ph.D., “At some point, a slowing market can motivate sellers to adjust prices to better align with what buyers can afford. We’re seeing that dynamic begin to unfold in Central Texas. It’s not that demand has disappeared—buyers still want homes here, but affordability remains a key factor. Many are waiting for the right opportunity or more favorable pricing. The notable increase in pending sales in May signals that buyer activity has picked up after a challenging first quarter. While higher mortgage rates continue to impact buyer confidence, these trends point to cautious optimism as we move into the summer.”
Brandy Wuensch, “We’re seeing signs of a bounce-back this month, which is encouraging after a slower start to the year. Buyers and sellers alike should take advantage of this evolving landscape with the help of trusted real estate agents who can help them navigate opportunities and competitive pricing strategies. Central Texas continues to be a place where people want to live, but many are waiting for market conditions that match their financial readiness. Homes priced competitively are still selling well, which underscores the lasting power of homeownership as a tool for long-term financial stability and wealth-building.”
You’ll find comprehensive information on the current market stats right here. Additionally, for more details, feel free to explore www.abor.com.
If you would like to see a comparison to the Market Stats from May 2024, click here.
If you’re curious about markets beyond Austin, take a look at the Corpus Christi market.
