Austin Real Estate Market Overview
Inventory across the Austin-Area MLS continues to build, reinforcing a sustained shift in the market’s balance. As of this week, there are 17,681 active residential listings—a 9.3% increase from the same period in 2024. Months of Inventory has grown from 5.32 to 6.24, marking a 17.3% rise. This increase in inventory depth reflects both a slower pace of absorption and a steady inflow of new listings. Within the City of Austin, the change is even more pronounced. Active listings have risen by 13.2% year over year to 5,760, and Months of Inventory has increased from 5.80 to 6.82—also a 17.5% gain. These metrics confirm that while buyer activity has moderated, seller activity remains robust, creating a more competitive environment and signaling an ongoing realignment of supply and demand dynamics.
Austin Housing Prices: Gradual Pressure Builds
Across the Austin-area MLS, prices remain relatively stable but continue to show signs of softening under the weight of growing inventory. The average list price is effectively unchanged from a year ago, down just 0.03% to $597,765. The average sold price has declined slightly to $577,716, a 0.4% year-over-year decrease. The median list price sits at $449,695, down 0.07%, while the median sold price is now $436,500, down 0.8%. These small but persistent declines are consistent with a market that has lost momentum but not value entirely.
In the City of Austin, price performance is mixed depending on segment. The average list price has increased 1.4% year over year to $833,512, likely driven by higher-priced inventory. At the same time, the median list price has dropped 4.3% to $600,000, indicating that mid-range listings are under more pressure. The average sold price is virtually flat, up just 0.2% to $797,688, while the median sold price has declined 3.2% to $600,000. This continued divergence between average and median pricing underscores a segmentation where luxury or turnkey homes continue to attract attention, but broader affordability headwinds are weighing down the middle of the market.
Regional Trends: Price Gains Uneven Across Central Texas
Regional pricing trends remain fractured. Of the 30 cities tracked across Central Texas, 60% (18 cities) experienced month-over-month price gains, while 37% (11 cities) saw month-over-month declines. However, year-over-year trends reveal more stagnation: 50% of cities recorded price increases over the past year, while the other half saw declines. Notably, none of the 30 cities remain above their pricing peak from the past 12 months—every one has experienced some level of retracement.
At the ZIP code level, similar patterns emerge. Among the 75 ZIP codes monitored, 51% saw month-over-month price gains while 48% declined. On a year-over-year basis, 43% (32 ZIP codes) posted price increases, while 57% (43 ZIP codes) experienced declines. Just one ZIP code remains above its 12-month high, indicating that the post-peak correction is still broadly felt across the region. These regional figures highlight a leveling market with scattered recovery signals, but no clear upward momentum.
List-to-Sale Price Performance: Modest Negotiation Continues
The majority of homes in the Austin-area MLS continue to sell below asking price. As of June 19, 2025, 66.88% of closed sales were below list, compared to 62.85% the previous month and 63.42% one year ago. Sales at list price account for 20.75% of transactions, while only 12.38% of homes sold above list—a continued monthly and annual decline. The average sold-to-list price ratio is now 97.29%, reflecting steady negotiation margins and pricing realism by sellers. Homes that are competitively priced and well-positioned continue to draw attention, but in general, the market remains defined by price sensitivity and strategic buyer behavior.
Peak Value Trends: Still Well Below the Top
The Austin market continues to operate below its peak values across nearly all major pricing metrics. In the Austin-Area MLS, the average list price peaked at $719,023 in April 2025 and has since declined to $667,891—a 7.1% drop. The median list price has fallen 11.1% from its May 2022 peak of $539,900 to $479,900. On the sold side, the average sold price is down 12.6% from its May 2022 peak of $664,515 to $581,035. The median sold price has declined 15.7%, from $538,000 to $453,610. Price per square foot has also taken a hit: the average has dropped 19.8%, from $324 to $260, and the median has fallen 21.4%, from $280 to $220.
The City of Austin follows a similar trajectory. The average list price hit a peak of $953,977 in April 2025 and now sits at $847,208, down 11.2%. The median list price has decreased 11.8%, from $669,000 to $589,900. The average sold price is down 7.9% from its May 2022 peak of $847,583 to $780,215, while the median sold price has dropped 11.8%, from $680,000 to $600,000. Price per square foot in the city has also declined notably: the average is down 19.0%, from $442 to $358, and the median is down 20.6%, from $393 to $312. These figures confirm that while pricing has stabilized in recent months, the broader correction from peak remains firmly in place.
