Here are the December/2024 MLS single-family statistics for Austin, TX:
While December ended 2024 with a slightly slower month than November, it still had some positives like being our 3rd month in a row of increasing home closed sales and our 2nd month in a row where home prices increased over their respective months the prior year. And, we were better than our 2024 monthly averages (see below) in all 8 categories so we are headed in the right direction as we begin 2025.
I put up the monthly averages for both 2024 and 2023 above so you can see how far our Austin metro single-family home sales market improved last year. For instance:
- We had 5 of the 8 categories in double-digit reds in 2023, but only 2 in 2024. In fact, we had one of them (days on market) at 110% negative in 2023.
- Two of our double-digit reds in 2024 were listings and inventory which reflect the current market, but our pendings reflect our future market and rose 2% which portends a positive direction.
- We had no green categories in 2023, but we ended 2024 with 3 in the green.
- Our sales showed an 11% swing in the positive direction going from -9% in 2023 to +2% in 2024.
- Even though our 2 home price categories remained in the red, they were only -2.6% (median price) and -.90% (average vs -10% and -8% in 2023 and the last 2 months of 2024 had them both in positive categories.
As I’ve mentioned over the past several months, I firmly believe we have shaken off the effects of our local home sales slowdown that began nearly 3 years ago when the Federal Reserve began raising interest rates so aggressively. I believe the general malaise over the country is going away, too, and I’m confident 2025 will be a good year for Austin, TX home sales regardless of how many rate reductions the Fed makes this year.
(512) 853-0110 or robert@AustinTxHomeSales.com