August 2024 market report: More options for buyers.

In August, active home listings in the Austin-Round Rock-San Marcos area rose by 15.4%, while the median home price fell 4.4% to $439,990, creating more opportunities for buyers. However, further price drops may be needed to boost sales growth. Buyers have more leverage now, and sellers should price homes competitively to attract offers. While interest rates may drop slightly, lower home prices will be the key driver for increased sales.