As temperatures rose in July, the Austin home-buying market continued to have a cool summer. Austin-Round Rock-San Marcos metro home sales fell 3.5 percent year-over-year, to 2,652 closed sales, according to the Austin Board of Realtors’ Central Texas Housing Report.

Median price for the metro held steady at $450,000 for the second consecutive month. New home listings decreased slightly — 0.3 percent — but the total number active listings has increased 20.3 percent, to 12,661, since July 2023. 

More first-time home buyers are taking the leap in Central Texas, ABoR housing economist Clare Knapp said in the report, but mortgage rates are still daunting: "With rates around 6.5 percent, only about half of homeowners in our market can afford a median priced home and only about a quarter of renters can afford a starter home. Home prices across the market still need to decrease to meet market conditions and meet buyers where their purchasing power is currently."

While sales in Travis County declined 12 percent year-over-year, "ample housing inventory and more affordably priced housing options” are driving buyers to nearby Williamson, Hays, Bastrop, and Caldwell counties, ABoR's Kent Redding said.

Numbers from ABoR’s July report support this theory, showing home-sales bumps in Williamson, Bastrop, Hays, and Caldwell counties:

Austin-Round Rock-San Marcos MSA

  • 2,652 – Residential homes sold, 3.5% less than July 2023.
  • $450,000 – Median price for residential homes, 2.8% less than July 2023.
  • 3,812 – New home listings on the market, 0.3% less than July 2023.
  • 12,661 – Active home listings on the market, 20.3% more than July 2023.
  • 2,567 – Pending sales, 5.1% less than July 2023.
  • 5.1 – Months of inventory, 1.0 months more than July 2023.
  • $1,530,599,967 – Total dollar volume of homes sold, 6.6% less than July 2023.
  • 94.2% – Average close to list price, compared to 94.6% in July 2023.

City of Austin

  • 880 – Residential homes sold, 10.3% less than July 2023.
  • $585,000 – Median price for residential homes, 1.7% more than July 2023.
  • 1,359 – New home listings on the market, 7.6% less than July 2023.
  • 4,862 – Active home listings on the market, 23.8% more than July 2023.
  • 834 – Pending sales, 14.4% less than July 2023.
  • 5.8 – Months of inventory, 1.3 months more than July 2023.
  • $662,787,575 – Total dollar volume of homes sold, 10.3% less than July 2023.
  • 93.7% – Average close to list price, compared to 94.5% in July 2023.

Travis County

  • 1,155 – Residential homes sold, 11.9% less than July 2023.
  • $525,000 – Median price for residential homes, 1.9% less than July 2023.
  • 1,771 – New home listings on the market, 4.8% less than July 2023.
  • 6,364 – Active home listings on the market, 22.1% more than July 2023.
  • 1,140 – Pending sales, 9.2% less than July 2023.
  • 5.8 – Months of inventory, 1.3 months more than July 2023.
  • $808,167,486 – Total dollar volume of homes sold, 13.4% less than July 2023.
  • 93.8% – Average close to list price, compared to 94.2% in July 2023.

Williamson County

  • 943 – Residential homes sold, 3.8% more than July 2023.
  • $428,500 – Median price for residential homes, 0.3% less than July 2023.
  • 1,263 – New home listings on the market, 2.4% more than July 2023.
  • 3,607 – Active home listings on the market, 16.5% more than July 2023.
  • 885 – Pending sales, 1.3% less than July 2023.
  • 4.1 – Months of inventory, 0.7 months more than July 2023.
  • $460,424,579 – Total dollar volume of homes sold, 1.5% more than July 2023.
  • 94.6% – Average close to list price, compared to 95.9% in July 2023.

Hays County

  • 401 – Residential homes sold, 4.5% more than July 2023.
  • $385,500 – Median price for residential homes, 3.6% less than July 2023.
  • 549 – New home listings on the market, 7.4% more than July 2023.
  • 1,889 – Active home listings on the market, 20.7% more than July 2023.
  • 375 – Pending sales, 5.8% less than July 2023.
  • 5.2 – Months of inventory, 0.8 months more than July 2023.
  • $202,145,525 – Total dollar volume of homes sold, 2.9% more than July 2023.
  • 94.2% – Average close to list price, compared to 93.6% in July 2023.

Bastrop County

  • 116 – Residential homes sold, 4.8% more than July 2023.
  • $343,745 – Median price for residential homes, 6.5% less than July 2023.
  • 173 – New home listings on the market, 2.4% more than July 2023.
  • 652 – Active home listings on the market, 26.1% more than July 2023.
  • 120 – Pending sales, 3.4% more than July 2023.
  • 6.0 – Months of inventory, 0.8 more than July 2023.
  • $47,511,644 – Total dollar volume of homes sold, 1.3% more than July 2023.
  • 94.1% – Average close to list price, compared to 92.8% in July 2023.

Caldwell County

  • 36 – Residential homes sold, 12.5% more than July 2023.
  • $291,000 – Median price for residential homes, 2.4% less than July 2023.
  • 56 – New home listings on the market, 14.3% more than July 2023.
  • 149 – Active home listings on the market, 12.0% more than July 2023.
  • 47 – Pending sales, 20.5% more than July 2023.
  • 3.8 – Months of inventory, 1.6 months less than July 2023.
  • $12,350,734 – Total dollar volume of homes sold, 22.5% more than July 2023.
  • 95.1% – Average close to list price, compared to 95.5% in July 2023.