The median home price the Austin-Round Rock-San Marcos housing market continues to drop, decreasing by 6.6 percent in September, to $425,000, since the same period last year.

Pending sales increased by 20.2 percent year-over-year, according to the Austin Board of Realtors September 2024 Central Texas Housing Report, but the total number of homes sold dropped 2.6 percent since September 2023, to a total of 2,286.

Inventory continued to improve, reaching 5.9 months, but even as prices drop, homes remain unaffordable for many Austin buyers.

“While mortgage rates have declined and inventory has increased, affordability remains a significant barrier for many buyers across the region” ABoR president Kent Redding said. 

“Sellers are adjusting their expectations to reflect buyers' growing leverage in light of ongoing affordability constraints,” ABoR’s Clare Knapp said. “Pending sales in the Austin housing market have surged, likely driven by the mid-September drop in mortgage rates, as buyers are expected to take advantage of favorable conditions throughout the fall.”

ABoR’s report also breaks down the September numbers by city and county:

Austin-Round Rock-San Marcos MSA

  • 2,286 – Residential homes sold, 2.6% less than September 2023.
  • $425,000 – Median price for residential homes, 6.6% less than September 2023.
  • 3,545 – New home listings on the market, 0.1% less than September 2023.
  • 12,153 – Active home listings on the market, 11.6% more than September 2023.
  • 2,569 – Pending sales, 20.2% more than September 2023.
  • 5.9 – Months of inventory, 1.3 months more than September 2023.
  • $1,268,639,386 – Total dollar volume of homes sold, 7.8% less than September 2023.
  • 8% – Average close to list price, compared to 93.2% in September 2023.

City of Austin

  • 737 – Residential homes sold, 11.9% less than September 2023.
  • $580,000 – Median price for residential homes, 1.7% more than September 2023.
  • 1,270 – New home listings on the market, 3.1% less than September 2023.
  • 4,519 – Active home listings on the market, 16.3% more than September 2023.
  • 799 – Pending sales, 9.5% more than September 2023.
  • 6.8 – Months of inventory, 2.2 months more than September 2023.
  • $536,872,801 – Total dollar volume of homes sold, 12.4% less than September 2023.
  • 1% – Average close to list price, compared to 92.8% in September 2023.

Travis County

  • 988 – Residential homes sold, 10.4% less than September 2023.
  • $500,000 – Median price for residential homes, 2.9% less than September 2023.
  • 1,728 – New home listings on the market, 1.6% less than September 2023.
  • 6,018 – Active home listings on the market, 13.5% more than September 2023.
  • 1,089 – Pending sales, 13.6% more than September 2023.
  • 6.7 – Months of inventory, 1.9 months more than September 2023.
  • $672,226,022 – Total dollar volume of homes sold, 13.4% less than September 2023.
  • 3% – Average close to list price, compared to 93.0% in September 2023.

Williamson County

  • 793 – Residential homes sold, 0.8% more than September 2023.
  • $415,670 – Median price for residential homes, 3.3% less than September 2023.
  • 1,068 – New home listings on the market, 0.6% more than September 2023.
  • 3,513 – Active home listings on the market, 10.2% more than September 2023.
  • 933 – Pending sales, 23.9% more than September 2023.
  • 5.1 – Months of inventory, 1.0 months more than September 2023.
  • $374,220,627 – Total dollar volume of homes sold, 3.2% less than September 2023.
  • 2% – Average close to list price, compared to 94.1% in September 2023.

Hays County

  • 367 – Residential homes sold, 14.1% more than September 2023.
  • $369,300 – Median price for residential homes, 7.7% less than September 2023.
  • 509 – New home listings on the market, 1.0% less than September 2023.
  • 1,781 – Active home listings on the market, 6.3% more than September 2023.
  • 398 – Pending sales, 28.0% more than September 2023.
  • 5.2 – Months of inventory, flat to September 2023.
  • $174,736,181 – Total dollar volume of homes sold, 9.2% more than September 2023.
  • 6% – Average close to list price, compared to 92.8% in September 2023.

Bastrop County

  • 92 – Residential homes sold, 7.7% less than September 2023.
  • $354,990 – Median price for residential homes, 2.9% less than September 2023.
  • 184 – New home listings on the market, 15.7% more than September 2023.
  • 690 – Active home listings on the market, 22.1% more than September 2023.
  • 113 – Pending sales, 39.5% more than September 2023.
  • 7.2 – Months of inventory, 1.6 more than September 2023.
  • $35,214,004 – Total dollar volume of homes sold, 15.2% less than September 2023.
  • 2% – Average close to list price, compared to 90.8% in September 2023.

Caldwell County

  • 45 – Residential homes sold, 24.8% more than September 2023.
  • $281,455 – Median price for residential homes, 4.4% less than September 2023.
  • 56 – New home listings on the market, 1.8% less than September 2023.
  • 151 – Active home listings on the market, 4.4% less than September 2023.
  • 36 – Pending sales, 5.9% more than September 2023.
  • 4.0 – Months of inventory, 0.4 months less than September 2023.
  • $12,242,552 – Total dollar volume of homes sold, 5.4% more than September 2023.
  • 4% – Average close to list price, compared to 92.8% in September 2023.