Austin's real estate market has shown progress with improving stability thanks to an increase in listings and slight reductions in prices. Stabilizing prices aside, the overall market's activity brought in more than $17 billion in 2024, according to the latest report from the Austin Board of Realtors (ABoR) and Unlock MLS.

The final report of 2024 wrapped up the Austin-Round Rock-San Marcos metro's performance and compared it to 2023's statistics. Most notably, median prices in the Austin area declined 1.7 percent year-over-year to $445,000.

Unlock MLS' housing economist Clare Knapp, Ph.D., predicts 2025 will show similar activity to the previous year.

"2025 market activity will likely look similar to trends observed in 2024 with the median sales price and closed sales hovering between a range of 5 percent up or down year-over-year," Knapp said. "This stability will give homebuyers and sellers clear expectations to plan their next steps with greater confidence."

High mortgage rates will remain a difficult obstacle which aren't likely to come down anytime soon, though Knapp says this may create a "predicable lending environment."

"However, external factors, such as economic shifts or policy changes, could influence these trends, underscoring the importance of staying informed and adaptable to navigate the market successfully," she said.

A recent NPR report revealed current mortgage rates have now risen over seven percent. Knapp predicts they will continue to hover between six and seven percent throughout the year.

2025 Unlock MLS and ABoR president Brandy Wuensch offered his insight into the "unique opportunities" that can be offered to both buyers and sellers this year.

"For buyers, the MSA has the highest inventory levels seen in over a decade, offering more choices and greater leverage in negotiations," Wuensch said. "Sellers, meanwhile, can capitalize on significant equity gains accrued over the past few years. We are finally seeing predictability in our market, making this an ideal time to pursue homeownership goals with the guidance of a licensed professional agent."

2024 housing trends across Austin-Round Rock-San Marcos

Nearly 30,000 homes were sold across the metro area in 2024, which is half a percentage point fewer than 2023's total home sales. Out of the total 132,993 active home listings that went on the market last year, 45,449 were new home listings, which is an 8.7 percent year-over-year increase from 2023.

Central Texas housing trends in December 2024

A total of 1,011 homes were sold last month in Travis County, with median prices rising 2.5 percent year-over-year to $512,500. There were 3,893 active listings on the market; 8.7 percent more than December 2023.

More than 800 homes were sold in Williamson County, with median prices falling 2.2 percent in comparison to last December to $425,000. There were 693 new home listings, with a total of 2,550 active home listings.

Median home prices in Hays County were flat compared to December 2023, at just under $400,000. Last month, 356 homes were sold in the area, while active listings rose by 4.2 percent to 1,366 homes.

Home sales in Bastrop County rose 8.8 percent year-over-year with 108 homes sold in December. Median prices stood at $380,000. There were 565 active listings on the market and 120 new home listings.

Homes in Caldwell County sold for a median price of $275,000 last month, showing a dramatic 14.6 percent reduction since this time last year. A total of 24 homes were sold, which was nearly 29 percent fewer than the previous year, and there were 120 active homes on the market. Caldwell County had 41 new home listings on the market in December.