March 2024 Central Texas Housing Market Report

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Unlock MLS: Housing inventory increases across MSA, four months of inventory available in multiple markets

AUSTIN, Texas —In March, new home listings across the Austin-Round Rock-Georgetown MSA jumped to 4,714 new listings, 10.2% more than March 2023, leading to multiple markets reaching four months of inventory, according to the latest Central Texas Housing Report released by Unlock MLS. The data indicates that homeowners have confidence in their ability to sell their homes for good value while buyers now have a larger selection of home options, helping to keep price growth flat.

Clare Losey, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS®, noted that the increase in monthly inventory is a sign of a healthier and robust housing market.

“The current housing market is more favorable for first-time homebuyers, with an uptick in new listings for the lowest priced homes. More inventory means more options tailored to buyers’ specific needs and interests, allowing them more personalization and choice of location when looking for their new home. It’s great to see the stability of the current market in the first quarter of 2024.”

Kent Redding, 2024 Unlock MLS and ABoR president, provided further insight into current market conditions and the value of being represented by a licensed REALTOR®.

“In an era marked by economic resilience and favorable market conditions, aspiring homeowners are finding exciting opportunities to realize their dreams of homeownership. Through the use of Unlock MLS, the largest source of Central Texas housing market data, agents are able to provide the most accurate and timely data to assist clients during the transaction process.”

Austin Round-Rock-Georgetown MSA

  • 2,563 – Residential homes sold, 0.3% less than March 2023.
  • $450,000 – Median price for residential homes, flat to March 2023.
  • 4,714 – New home listings on the market, 10.2% more than March 2023.
  • 9,478 – Active home listings on the market, 7.6% more than March 2023.
  • 3,116 – Pending sales, 9.4% more than March 2023.
  • 3.8 – Months of inventory, 0.7 months more than March 2023.
  • $1,485,910,275 – Total dollar volume of homes sold, 2.1% more than March 2023.
  • 94.8% – Average close to list price, compared to 90.3% in March 2023.

 

City of Austin

  • 900– Residential homes sold, 3.1% more than March 2023.
  • $564,995 – Median price for residential homes, 2.7% more than March 2023.
  • 1,812 – New home listings on the market, 4.9% more than March 2023.
  • 3,430 – Active home listings on the market, 16.1% more than March 2023.
  • 1,091 – Pending sales, 6.6% more than March 2023.
  • 4.0 – Months of inventory, 1.4 months more than March 2023.
  • $672,774,199 – Total dollar volume of homes sold, 6.7% more than March 2023.
  • 94.6% – Average close to list price, compared to 94.2% in March 2023.

 

Travis County

  • 1,190 – Residential homes sold, 1.4% more than March 2023.
  • $510,000 – Median price for residential homes, flat to March 2023.
  • 2,320 – New home listings on the market, 3.3% more than March 2023.
  • 4,695 – Active home listings on the market, 11.8% more than March 2023.
  • 1,433 – Pending sales, 6.5% more than March 2023.
  • 4.1 – Months of inventory, 1.3 months more than March 2023.
  • $828,335,704 – Total dollar volume of homes sold, 5.1% more than March 2023.
  • 94.5% – Average close to list price, compared to 94.6% in March 2023.

 

Williamson County

  • 869 – Residential homes sold, 6.9% less than March 2023.
  • $420,000 – Median price for residential homes, 1.6% less than March 2023.
  • 1,398 – New home listings on the market, 11.2% more than March 2023.
  • 2,593 – Active home listings on the market, 3.2% less than March 2023.
  • 1,100 – Pending sales, 11.8% more than March 2023.
  • 3.0 – Months of inventory, flat to March 2023.
  • $419,596,592 – Total dollar volume of homes sold, 7.8% less than March 2023.
  • 95.4% – Average close to list price, compared to 81.4% in March 2023.

 

Hays County

  • 360 – Residential homes sold, 4.3% more than March 2023.
  • $388,005 – Median price for residential homes, 0.5% less than March 2023.
  • 689 – New home listings on the market, 23.0% more than March 2023.
  • 1,518 – Active home listings on the market, 11.8% more than March 2023.
  • 416 – Pending sales, 9.8% more than March 2023.
  • 4.3 – Months of inventory, 0.6 months more than March 2023.
  • $178,549,900 – Total dollar volume of homes sold, 6.3% more than March 2023.
  • 94.9% – Average close to list price, compared to 93.4% in March 2023.

 

Bastrop County

  • 104 – Residential homes sold, 10.6% more than March 2023.
  • $374,949 – Median price for residential homes, 2.0% more than March 2023.
  • 231 – New home listings on the market, 40.0% more than March 2023.
  • 516 – Active home listings on the market, 7.5% more than March 2023.
  • 114 – Pending sales, 4.6% more than March 2023.
  • 4.9 – Months of inventory, 0.7 more than March 2023. and the highest inventory in the MSA.
  • $44,948,504 – Total dollar volume of homes sold, 25.0% more than March 2023.
  • 92.4% – Average close to list price, flat to March 2023.

 

Caldwell County

  • 40 – Residential homes sold, 60.0% more than March 2023.
  • $304,938 – Median price for residential homes, 0.6% more than March 2023.
  • 76 – New home listings on the market, 55.1% more than March 2023.
  • 156 – Active home listings on the market, 71.4% more than March 2023.
  • 53 – Pending sales, 71.0% more than March 2023.
  • 4.6 – Months of inventory, 0.3 months less than March 2023.
  • $14,479,575 – Total dollar volume of homes sold, 73.6% more than March 2023.
  • 95.3% – Average close to list price, compared to 95.2% in March 2023.

 

For more information or to download the March 2024 Central Texas Housing Market Report, visit ABoR.com/MarketStatistics.

Unlock MLS marks the intersection of knowledge, humanity, and home. For nearly 60 years, we’ve fostered the most complete, accurate, timely, and reliable real estate marketplace for the 18-county Central Texas region. In partnership with the 20,000 real estate professionals who power our MLS, we lead the industry in transparency, data integrity, and a people-first focus to make home buying, selling, and renting accessible and attainable for all. For more information, visit UnlockMLS.com.