2024 Central Texas housing market performance lays foundation for a balanced year ahead
In 2024, closed sales across the Austin-Round Rock-San Marcos MSA remained stable, ticking down 0.5% to 29,872 sales. During the same period, active listings saw an increase of 14.7% to 132,993 listings offering buyers more opportunities. Together, the data reflects buyers’ ability to find homes that meet their needs within the current market conditions and sellers viewing the market as favorable.
Clare Knapp, Ph.D.,“2025 market activity will likely look similar to trends observed in 2024 with the median sales price and closed sales hovering between a range of 5% up or down year-over-year. This stability will give homebuyers and sellers clear expectations to plan their next steps with greater confidence. Additionally, mortgage rates will likely hover between 6 and 7%, as the Federal Reserve adopts a cautious approach to potential rate cuts. This consistency will allow both buyers and sellers to benefit from a predictable lending environment. However, external factors, such as economic shifts or policy changes, could influence these trends, underscoring the importance of staying informed and adaptable to navigate the market successfully.”
Brandy Wuensch, “There are unique opportunities for both buyers and sellers this new year. For buyers, the MSA has the highest inventory levels seen in over a decade, offering more choices and greater leverage in negotiations. Sellers, meanwhile, can capitalize on significant equity gains accrued over the past few years. We are finally seeing predictability in our market, making this an ideal time to pursue homeownership goals with the guidance of a licensed professional agent. While the increase of supply across the MSA helped ease affordability constraints, it does not solve long-term affordability challenges. In 2024, the Austin City Council took bold steps to address Austin’s affordability crisis to make housing more attainable to Austinites especially teachers, first responders, young professionals and retirees by revising outdated land development codes. We are proud to have played a part in driving this progress forward. As we look to the future, we are eager to continue collaborating with Council on additional reforms to address the affordability challenges in our region to ensure we are building a more affordable and attainable Austin for everyone.”
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 December 2023, click here.
If you’re curious about markets beyond Austin, take a look at the Corpus Christi market.
