How’s the Austin Real Estate Market? It Depends Who’s Asking.
“How’s the market?” is probably the question I get asked more than any other when someone finds out I’m a Realtor. The problem is there really isn’t one answer. The real estate market is constantly moving between favoring sellers, being relatively balanced, and favoring buyers. One of the primary ways we measure that is months of inventory. Basically, if no additional homes came on the market, how long would it take buyers to purchase everything currently available based on the existing pace of sales? Lower inventory generally favors sellers. As inventory grows, negotiating power begins shifting toward buyers.
78749 Real Estate Market Update: What the Last 90 Days Tell Us
The 78749 housing market continues to be one of the more interesting markets in Southwest Austin. Looking at everything currently active, under contract and pending, along with the 113 homes that closed over the last 90 days, the market isn't necessarily slow—it's selective. The median closed price was $575,000, while the average was about $588,000. Closed homes sold for an average of 98.7% of their list price, so buyers are getting some negotiating room, but we're definitely not seeing sellers universally give their houses away.
Is Austin Still Growing? What Migration Trends Mean for the Housing Market
During the pandemic years Austin experienced one of the largest population booms in the country. Between 2020 and 2022 the Austin metro added nearly 95,000 new residents through migration alone, fueled largely by remote work, tech expansion, and people relocating from higher-cost states. 2021 in particular was the peak of that movement, and it played a huge role in why housing demand and home prices accelerated so quickly during that time. When thousands of people move to the same city at once, the housing market naturally feels that pressure.