Luxe Austin Homes - median home price

"Central Austin homes continue to spend more time on market year over year"

Community Impact Austin reports, "Homes in Central Austin spent 19.7% more time on the market in January 2025 compared to January 2024, according to data from the Austin Board of Realtors. Median home prices only saw a slight increase year over year, with the largest share sold in the $900,000 and over price range.

The details

Median home prices slightly increased year over year by 1.42%. Homes in 78756 saw the largest price increases year over year, by 84.31%, and homes in the 78701 ZIP code saw the largest decrease in price, by 57.78%.

In January 2025, the largest share of homes sold in Central Austin were in the $900,000 and over price range. This is similar to last month.

Homes spent 19.7% more time on the market year over year. Out of the…

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"Millennials desperate for affordable homes are willing to make surprising concessions"

Austin Business Journal reports, "Few millennials believe their generation can afford a home, and some are so desperate for an affordable purchase they would be willing to buy a home with serious defects.

According to a new survey of millennials by Clever Real Estate, just 21% of millennials believe their generation can afford a home, a substantial decline from 52% who said the same in early 2024. Additionally, 96% of respondents said they have concerns about purchasing a home, with 44% saying they're worried about finding an affordable home — up from 35% in 2024.

The report notes that the median home price is about $420,000, but 68% of millennials who want to buy a home in 2025 want to spend less than $400,000. That's up from 57% who planned to…

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"Homebuyers can afford to be picky as Austin housing inventory rises"

CultureMap Austin shares, "The latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR) has revealed housing inventory is still on a steady rise in the Austin-Round Rock-San Marcos MSA, creating more choices for potential homebuyers as they navigate a high interest rate market.

Residential home sales dipped by a mere 1.5 percent year-over-year from October 2023, amounting to 2,248 closed sales in the Austin-Round Rock-San Marcos MSA. Median prices have also dropped to $430,000, or 3.2 percent less than this time last year. More than 3,300 new home listings were added on the market — a 7.4 percent increase from 2023 — bringing the total number of active home listings to 11,599.

According to Unlock MLS and ABoR housing…

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"Southwest Austin, Dripping Springs homes spent more time on market in September year over year"

Community Impact reports, "the average days spent on the market for Southwest Austin and Dripping Springs homes saw significant increases in September 2024 compared to September 2023 in all but three of the market’s eight ZIP codes, according to data from the Austin Board of Realtors.

The details

In the 78736 ZIP code, the average time spent on the market soared by over 200%. Slight decreases were seen year over year in the 78737, 78748 and 78749 ZIP codes.

Median home prices saw slight decreases from September 2023 to September 2024 in all but the 78735 and 78745 ZIP codes, which saw increases.

The year-over-year change in number of homes sold varied by each ZIP code, with 78739 seeing an increase in 90% and 78745 seeing a decrease of over…

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"Austin makes new list of 10 easiest cities to pay off a mortgage"

CultureMap Austin writes, "Whether a homeowner's mortgage lasts for 15 or 30 years, paying off such a large debt can be an arduous process. But luckily for homeowners living in the Austin area, paying off a mortgage is much easier than it is in many other large metropolitan areas in the country, according to a new report by SmartAsset.

Austin-Round Rock-Georgetown ranked No. 10 in SmartAsset's new study analyzing the top 40 large U.S. metros where it's easiest to pay off a mortgage. Rankings were determined based on the principal and interest payments for conventional 30-year fixed rate mortgages issued in 2023, relative to the median income of new homeowners.

Leading the nation as the No. 1 easiest place to pay off a mortgage is Pittsburgh,…

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"Slight Uptick in Home Sales as More Listings Hit Market"

Realtor Magazine reports, "Home affordability conditions are improving slightly, which helped to fuel more real estate transactions in July. Existing-home sales, which account for completed transactions for single-family homes, townhomes, condominiums and co-ops, saw their first uptick in about four months, rising 1.3% in July compared to June, NAR’s latest housing report shows.

“Despite the modest gain, home sales are still sluggish,” says NAR Chief Economist Lawrence Yun, adding that sales are still down 2.5% from a year ago. “But consumers are definitely seeing more choices, and affordability is improving due to lower interest rates.”

The 30-year fixed-rate mortgage averaged 6.49% as of Aug. 15, down from 7.09% a year earlier, which is…

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"Austin home sales slip as more buyers look outside the city, report says"

CultureMap Austin writes, "It's been a long-established trend that Austinites will relocate to a much more affordable part of town, even if it means sacrificing shorter work commutes and coveted Austin zip codes. The latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR) shows home sales have dropped in the Austin-Round Rock-San Marcos MSA, but are on a steady rise in neighboring Central Texas counties.

Residential home sales fell 3.5 percent year-over-year from July 2023, totalling 2,652 closed sales in the Austin-Round Rock-San Marcos MSA. Median prices have plateaued at $450,000 for the second consecutive month. With more than 3,800 new home listings added — a 0.3 percent drop from this time last year — the total…

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"Home sales volume continues to remain low in Central Austin"

CommunityImpact Austin writes, "The real estate market for the Central Austin area experienced some decline in home sales volume in July year over year; however, home sales volume increased compared to June, according to data from the Austin Board of Realtors.

This was coupled with an increased amount of time on the market and a decline in sale prices year over year, according to the data.

The details

Home sales volume declined in half of the ZIP codes in the Central Austin market, with the biggest percentage decrease in 78701, while the largest percentage increase was seen for 78731. In June, all 12 ZIP codes experienced a decline in sales.

There was also an increase in all but two of the 12 ZIP codes in days on the market, with the largest increase…

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"Foreign investment in US homes declines as buyers face tight inventory, high prices"

Austin Business Journal reports, "International buyers bought fewer U.S. homes in the past year but are paying more for residential real estate than ever before.

Foreign homebuyers purchased $42 billion in U.S. residential properties between April 2023 and March 2024, a 21.2% decline from the prior 12-month period, according to the National Association of Realtors. The approximately 54,300 existing homes sold to international buyers marks the lowest 12-month total on record since the NAR began tracking such transactions in 2009.

At the same time, both the average and median home-purchase prices paid by foreign buyers — $783,300 and $475,000, respectively — were the highest ever recorded by NAR.

International or foreign homebuyers as tracked…

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"Austin home prices jumped 87 percent in 10 years, report reveals"

CultureMap Austin shares, "A new real estate report confirms something that Austinites pretty much already knew: The city of Austin saw a significant increase in housing prices among U.S. cities within the last decade, with median home prices skyrocketing up to 87 percent.

The report by online real estate database PropertyShark analyzed median home sale prices in 41 of the most populous U.S. cities and locales in 2014 and 2023. According to the study, the median sale price of a home in Austin in 2014 was $287,000. A decade later, median housing prices in the city nearly doubled, landing at $538,000 in 2023.

Demand for housing increased dramatically due to the COVID-19 pandemic, when "millions of office employees suddenly shifted to working from…

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