CultureMap Austin reports, "more homes hit the market in the Austin area in March, inspiring confidence among home sellers while simultaneously boosting options for first-time homebuyers, according to the latest real estate report by Unlock MLS and the Austin Board of Realtors (ABoR).

There were more than 4,700 new home listings placed on the market in the Austin-Round Rock-Georgetown metropolitan statistical area (MSA) in March, which was a 10.2 percent increase year-over-year from March 2023. Housing inventory in the Austin area has now climbed for two straight months, after a previous real estate report showed more than 3,900 new home listings were added in the month of February.

"In an era marked by economic resilience and favorable market conditions, aspiring homeowners are finding exciting opportunities to realize their dreams of homeownership," said 2024 Unlock MLS and ABoR president Kent Redding.

Improving stability coupled with the upswing in inventory in the first quarter of 2024 are uplifting signs of a "healthier and robust" real estate market, according to housing economist Clare Losey, Ph.D.

“The current housing market is more favorable for first-time homebuyers, with an uptick in new listings for the lowest priced homes," said Losey. "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."

Central Texas housing trends in March 2024
Over 2,500 homes were sold in March across the Austin-Round Rock-Georgetown MSA, with median prices at $450,000, a plateau in comparison to March 2023. There were 9,478 active home listings on the market, which is 7.6 percent more than this time last year.

In Travis County, fewer than 2,000 homes were sold last month, only 1.4 percent more than last year. Median prices stood at an even $510,000. There were 4,695 active listings on the market, nearly 12 percent more year-over-year.

Over in Williamson County, 869 homes were sold last month, with median prices stabilizing at $420,000. There were nearly 1,400 new home listings on the market, representing a 11.2 percent increase from March 2023, bringing the total number of active home listings to 2,593.

Hays County saw a 4.3 percent increase in residential homes sold in March. Only 360 homes were sold last month, and median prices very slightly dipped 0.5 percent year-over-year to $388,005. Active listings rose nearly 12 percent year-over-year to 1,518 with the addition of 689 new home listings on the market.

Home sales in Bastrop County went up 10.6 percent when compared to this time last year, with 104 total homes sold. Median prices only climbed 2 percent year-over-year to $374,949. There were 516 active listings on the market in March, and 231 new home listings, showcasing a 40 percent surge in new inventory when compared to last year.

Caldwell County experienced a 60 percent jump in homes sold in March, amounting to 40 homes sold for a median price of $304,938. There were 156 active homes on the market, and 76 new home listings (the same number as February 2024), which represented a 55.1 percent increase in new inventory year-over-year."

Source: CultureMap Austin

Written by: Amber Heckler

Published: April 15, 2024

Posted by Grossman & Jones Group on


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