Welcome to our latest Real Estate Market Update! Each month, we bring you insightful analysis and updates on Leander, Williamson County, and the greater Austin-area real estate market, breaking down what’s happening and why it matters to you. In this special edition, we’re also taking a closer look at the year-to-date figures for 2024 to give you a comprehensive overview of the market trends so far.
If you have any questions about the market or need guidance, don’t hesitate to reach out – we’re always here to help. And, if you know someone who could benefit from working with a dedicated real estate professional, we’d be honored to assist them and provide exceptional service. Let’s dive into the numbers!
Year-Over-Year Market Statistics for Austin-Round Rock-San Marcos for December 2024:
The Median Sales Price experienced a modest increase of 1.4%, reaching $450,000. However, the Average Close-to-List Price dipped slightly to 91.6%, down from 92.2% during the same period last year. This indicates that, on average, home sellers are securing 91.6% of their original asking price.
Closed Sales rose by 2.5%, with 2,303 transactions recorded. The Average Days on Market remained steady at 80 days, unchanged from December 2023. Months of Inventory increased slightly to 3.8, reflecting a relatively balanced market that neither favors buyers nor sellers.
Inventory levels showed notable year-over-year growth: New Listings climbed to 2,070 (up 9.5%), Active Listings reached 8,494 (up 10.1%), and Pending Sales rose to 2,011 (up 3.1%). These trends suggest an increase in options for buyers entering the market.
Month-Over-Month Market Statistics for Austin-Round Rock-San Marcos for December 2024:
Median Sales Price grew by 3.3%, Days On Market increased by 5 days, and Months Of Inventory increased by 1 month. All listing levels (New, Active, and Pending) decreased, while Closed Sales increased by 7.5% from November 2024.
Year-Over-Year Market Statistics for Williamson County for December 2024:
At the end of each year, we also examine the year-to-date market statistics to identify trends and predictions for the coming year. Let’s dive into those:
2024 Annual Market Update for Austin-Round Rock-San Marcos for 2024:
The 2024 Year-to-Date Housing Market Statistics for the Austin-Round Rock Metropolitan Statistical Area (MSA) highlight key market trends for single-family homes, condos, and townhomes. Here’s a summary of the data from last year’s market activity:
- Median Sales Price: $445,000, down 1.7% compared to 2023.
- Closed Sales: 29,872, a slight decrease of 0.5%.
- Sales Dollar Volume: $17.0 billion, a drop of 1.5%.
- Average Days on Market: 76 days, up by 6 days, indicating slightly slower market activity.
- New Listings: 45,449, an 8.7% increase, reflecting more seller activity and homes on the market.
- Active Listings: 132,993, up by 14.7%, showing increased inventory.
- Pending Sales: 30,369, a rise of 2.2%, suggesting steady buyer interest.
Overall, this data reflects a relatively balanced market, with modest changes in key metrics year-over-year. Increased listings and active inventory may provide more opportunities for buyers, while the slight dip in median sales prices could indicate some minor market softening.
Clare Knapp, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS®, predicts that the coming year will mirror 2024’s conditions offering consistency for homebuyers and sellers.
“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% up or down year-over-year. This stability will give homebuyers and sellers clear expectations to plan their next steps with greater confidence. Additionally, mortgage rates will likely hover between 6 and 7%, as the Federal Reserve adopts a cautious approach to potential rate cuts. This consistency will allow both buyers and sellers to benefit from a predictable 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.”
Knapp added that while 2024 was a better year for first time homebuyers due to the increase in supply, there is still much work to be done to tackle the region’s affordability issues.
Brandy Wuensch, 2025 Unlock MLS and ABoR president, emphasized the advantages buyers and sellers have in the new year.
“There are unique opportunities for both buyers and sellers this new year. For buyers, the MSA has the highest inventory levels seen in over a decade, offering more choices and greater leverage in negotiations. 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.”
That’s great, but what does all this mean for home sellers and home buyers?
Advice for Home Sellers
Although there was a slight dip in market pricing from 2023 to 2024, home values remain robust, allowing sellers to maintain strong equity built over the past several years. While preparation and presentation play key roles in selling a home, pricing remains the most vital factor for a successful sale—especially in today’s market. Considering selling your home? Let’s connect soon to create a tailored plan that guides you seamlessly from start to finish while maximizing your sales price and net proceeds.
Advice for Home Buyers
There are still fantastic opportunities for home buyers, especially with mortgage rates trending downward at the time of this writing. Now is a wonderful moment to start your journey toward homeownership! When you’re ready, we’re here to help. Let’s schedule a time to discuss your needs, wants, and goals. From there, we’ll connect you with a trusted local mortgage lender who will guide you through the financing process. Together, we’ll create a clear plan so you’ll always know what to expect every step of the way.
As we step into 2025, we remain committed to supporting you—whether you’re buying or selling. We’ll keep you informed on local market trends and are always available to answer your questions.
Final Thoughts
Whether you’re buying or selling, partnering with an experienced and knowledgeable real estate professional is crucial. At The Cummings Team, we take that responsibility seriously and your interests are always our top priority.
Have questions about the current market in Leander and/or the greater Austin area? Thinking about selling or buying a home? Reach out to us today, and let’s talk about how we can help you achieve your goals. We’re always here to support you. Contact The Cummings Team® today!