Analyzing the Austin Real Estate Market: February 2024 Statistics

Analyzing the Austin Real Estate Market: February 2024 Statistics

As we step into the early months of 2024, the Austin real estate market continues to show resilience and stability, albeit with some notable shifts from the previous year. Here's a comprehensive look at the key statistics for February 2024:

Median Price:

The median price for homes in Austin stood at $440,000, showcasing a robust market where home values remain strong.

Average Days on Market (DOM): Homes in Austin spent an average of 83 days on the market, indicating a balanced market where buyers and sellers can find opportunities.

Days to Close:

The average number of days to close a sale in Austin was 34, showcasing a relatively quick transaction process for buyers and sellers alike.

Total Days on Market:

With a total of 117 days on the market, homes in Austin are selling within a reasonable timeframe, allowing sellers to move forward with their plans efficiently.

Housing Inventory:

Austin currently has 3.2 months of housing inventory, representing a slight increase of 0.6 months compared to the same time last year. This increase provides buyers with more options and potentially less competition in the market.

Listings Sold Price:

Homes in Austin sold for 93.8% of their list price on average, indicating a market where sellers are able to achieve a significant portion of their asking price.

Median House Size:

The median size of homes sold in Austin was 1,977 square feet, offering a variety of options for buyers seeking different sizes and styles of homes.

Overall, the Austin real estate market in February 2024 continues to be dynamic, with a healthy balance between buyers and sellers. As we move further into the year, it will be interesting to see how market conditions evolve and how they will impact buyers and sellers in the region.

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