August 2024 market report: More options for buyers.

In August, the Austin-Round Rock-San Marcos housing market experienced a 15.4% increase in active listings, while the median home price dropped by 4.4% to $439,990, according to Unlock MLS. This suggests more options for buyers, though further price decreases may be needed to stimulate a significant rise in sales.

Key highlights for the Austin-Round Rock-San Marcos area in August:

• Homes Sold: 2,591 (down 10.4% compared to August 2023)

• Median Price: $439,990 (down 4.4% compared to August 2023)

• New Listings: 3,781 (down 4.1% from last year)

• Active Listings: 12,334 (up 15.4% from last year)

• Pending Sales: 2,583 (up 3.1% from last year)

• Months of Inventory: 4.9 months (up 1.1 months from last year)

• Total Dollar Volume of Homes Sold: $1.49 billion (down 11.0% from August 2023)

• Average Close Price to List Price: 93.3% (compared to 94.2% in August 2023)

City of Austin:

• Homes Sold: 866 (down 16.2% compared to last year)

• Median Price: $585,000 (up 1.8% from last year)

• New Listings: 1,260 (down 9.2% from last year)

• Active Listings: 4,541 (up 18.1% from last year)

• Pending Sales: 838 (down 6.2% from last year)

• Months of Inventory: 5.4 months (up 1.5 months from last year)

Travis County:

• Homes Sold: 1,170 (down 12.4% from August 2023)

• Median Price: $507,875 (down 2.3% from last year)

• New Listings: 1,695 (down 11.4% from last year)

• Active Listings: 6,016 (up 15.1% from last year)

• Pending Sales: 1,123 (down 3.2% from last year)

• Months of Inventory: 5.3 months (up 1.2 months from last year)

Williamson County:

• Homes Sold: 857 (down 12.6% from August 2023)

• Median Price: $428,500 (down 3.3% from last year)

• New Listings: 1,269 (up 1.4% from last year)

• Active Listings: 3,643 (up 14.1% from last year)

• Pending Sales: 893 (up 2.8% from last year)

• Months of Inventory: 4.4 months (up 1.2 months from last year)

Hays County:

• Homes Sold: 417 (up 3.5% from last year)

• Median Price: $377,850 (down 5.5% from last year)

• New Listings: 574 (up 8.3% from last year)

• Active Listings: 1,860 (up 16.5% from last year)

• Pending Sales: 414 (up 24.3% from last year)

• Months of Inventory: 4.6 months (up 0.4 months from last year)

Bastrop County:

• Homes Sold: 101 (down 24.7% from last year)

• Median Price: $359,950 (up 0.3% from last year)

• New Listings: 193 (up 3.2% from last year)

• Active Listings: 679 (up 26.2% from last year)

• Pending Sales: 100 (down 9.1% from last year)

• Months of Inventory: 6.9 months (up 2.1 months from last year)

Overall, while more homes are available and prices are starting to decrease, the market continues to adjust, giving buyers more opportunities, especially in areas where inventory is rising. Sellers will need to carefully price their homes to remain competitive and attract offers.

The full August 2024 Market Snapshot is available HERE for review.