The latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR) has revealed that June saw a significant increase in the number of active home listings in the Austin metro area — continuing on a three-month high that began in April — and median sale prices are dropping to accommodate the rise in inventory.

New in the June report, Unlock MLS refers to the Central Texas region as the Austin-Round Rock-San Marcos metropolitan statistical area (MSA), whereas it was previously identified as the Austin-Round Rock-Georgetown MSA.

The data shows there was a 13.4 percent drop in home sales across the Austin-Round Rock-San Marcos MSA, with only 2,732 homes sold in June for a median price of $450,000. There were more than 13,200 active home listings on the market last month, and 4,364 new listings.

According to Unlock MLS and ABoR housing economist Clare Knapp, the decline in sales can be attributed to stubborn sellers that aren't budging on their home prices, which is exacerbating buyers' barriers to affordability.

"For buyers, the recent surge in active listings, plus affordability constraints for moderate-income buyers, means that they are choosing to be more selective when purchasing a home," Knap said. "The market will continue to find its footing in the latter half of the year, proving that both buyers and sellers will need to remain nimble and work closely with their realtor to find and negotiate their best option."

Central Texas housing trends in June 2024

In Travis County, 6,830 homes were sold last month, in a near 5 percent decline over last year. Median prices dropped to $520,000. Active home listings continued growing to 6,276 homes, which is nearly 30 percent more year-over-year.

Over in Williamson County, only 945 homes were sold in June, with median prices decreasing to $434,000, only $1,000 less from May. There were 1,357 new home listings on the market in a slight two percent drop from June 2023, bringing the total number of active home listings to 3,727.

Residential home sales rose by 1.7 percent in Hays County in June, totaling 413 sales. Median prices slipped nearly 8 percent year-over-year to $391,775. Active listings rose 20.4 percent year-over-year to 1,908 homes with the addition of 623 new listings on the market.

111 homes were sold in Bastrop County last month, a mere 1.5 percent increase from this time last year. Median prices fell nearly 10 percent year-over-year to just under $340,000. There were 633 active listings on the market in June for the second consecutive month, and 198 new home listings, representing a 26.9 percent increase in new inventory when compared to last year.

Though only 57 homes were sold in Caldwell County in June – only one more than May's total – sales technically skyrocketed 45 percent year-over-year from June 2023. Those 57 homes sold for a median price of $300,000, which was a 7.1 percent increase from last year. The number of active homes on the market was not listed for the last month, but there were 61 new homes added on the market for the second month in a row.

Central Texas housing trends during the first half of 2024

The report showed more than 15,000 homes were sold across Austin-Round Rock-San Marcos within the first six months of 2024, which was only 1.8 percent fewer than the first half of 2023. The median price of these residential homes landed at $450,000 in a 2.2 percent decline from this time last year. Active listings from the first half of 2024 rose by 15.5 percent year-over-year to 63,005 homes, supplemented by the 26,398 new home listings that were added during those six months.

2024 ABoR and Unlock MLS president Kent Redding provided his advice for Austinites considering buying or selling during the remaining half of the year, and emphasized a need for flexibility while navigating the housing market.

“Homes are selling at 96.4 percent of original list price, but the homes that are selling are moving because they are showing well and priced appropriately," Redding said. "Price and presentation are the top two critical components to a successful sale, whereas time on the market can be a big detractor. For buyers, now is the time to expand your options and make competitive offers in this high-inventory environment."

Year-to-date Travis County housing data

• 6,830 – Residential homes sold, 4.8 percent fewer than the first half of 2023.
• $520,000 – Median price for residential homes, 0.1 percent more than the first half of 2023.
• 12,981 – New home listings on the market, 11.2 percent more than the first half of 2023.
• 31,533 – Active home listings on the market, 21.4 percent more than the first half of 2023.

• 5,254 – Residential homes sold, 3.9 percent fewer than the first half of 2023.
• $430,000 – Median price for residential homes, 1.6 percent less than the first half of 2023.
• 8,051 – New home listings on the market, 14.8 percent more than the first half of 2023.
• 17,613 – Active home listings on the market, 5.7 percent more than the first half of 2023.

Year-to-date Hays County housing data

• 2,202 – Residential homes sold, 5.7 percent more than the first half of 2023.
• $385,000 – Median price for residential homes, 3.8 percent less than the first half of 2023.
• 3,783 – New home listings on the market, 28.1 percent more than the first half of 2023.
• 9,703 – Active home listings on the market, 16.2 percent more than the first half of 2023.

Year-to-date Bastrop County housing data

• 661 – Residential homes sold, 12.0 percent more than the first half of 2023.
• $360,000 – Median price for residential homes, 5.2 percent less than the first half of 2023.
• 1,206 – New home listings on the market, 29.8 percent more than the first half of 2023.
• 3,295 – Active home listings on the market, 12.4 percent more than the first half of 2023.

• 242 – Residential homes sold, 60.3 percent more than the first half of 2023.
  
• $299,945 – Median price for residential homes, flat compared to the first half of 2023.
  
• 377 – New home listings on the market, 23.6 percent more than the first half of 2023.
  
• 861 – Active home listings on the market, 36.2 percent more than the first half of 2023.