Check out AustinBestAgent.com for all the listings in the Austin Texas area updated as fast as the MLS changed.

Closed listings the week ending Feb 2nd were at 2,809 with new listings coming in at nearly twice that value, 5,158. Price decreases were nearly as large of new homes coming on the market, as sellers got real about the market and started pricing things more appropriately. Decreases were at 4,632. 849 homes came back on the market after inspection or repair. 3,240 homes went pending, while 1,593 homes withdrew from the market and 1,454 homes went expired. Buyers will quickly realize this is a good time to buy a home.

The highest price home is $25,000,000 in Manor Texas, MLS 2514845

The lowest price house is at $50,000 which is MLS #9642867

The Austin real estate market continues to evolve, reflecting the city’s rapid growth and shifting economic landscape. Despite higher mortgage rates, demand remains strong due to Austin’s thriving tech industry, cultural appeal, and influx of new residents. Home prices have stabilized after the post-pandemic boom, but inventory remains tight, creating competition among buyers. Affordability challenges persist, particularly for first-time homebuyers, as median home prices hover above national averages. However, new construction and suburban expansion provide opportunities for those seeking more space at relatively lower prices.

Investors are still drawn to Austin, particularly in short-term rentals and multi-family developments, as the city remains a hub for startups and innovation. Rental demand is also high, driven by remote workers, students, and professionals relocating for job opportunities. Neighborhoods like East Austin, South Congress, and areas surrounding The Domain continue to see significant growth and investment. As 2024 unfolds, market conditions may favor buyers if interest rates stabilize or decline, but the long-term outlook suggests Austin will remain a competitive and attractive real estate market for years to come.

Texas Pride Realty
5717 Legacy Dr Suite 250
Plano, TX 75024
972-754-0582

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