Best in Texas™: Greater Austin’s Real Estate Roller Coaster: Sharp Turns in Trends for May 2024—Find Out More! by ALEX.realestate

ALEX Labs just completed analysis of all single family sales reported to the Austin Board of Realtors for May 2024. In about 60 seconds know more about the Greater Austin real estate market than almost anyone! 

NOTE: Greater Austin is served by more than one MLS. ALEX Labs suggests the trends and statistics are valid for the Austin MLS are valid for the total market. You can view every listing from every MLS in Greater Austin on ALEX.

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SUMMARY TABLE:

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MONTHLY TREND: +7%

Predicted Monthly Trend: +14.66% increase from the previous month.
Sales Net of Monthly Trend: -7.66% negative difference in actual vs. predicted sales.

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TOTAL SALES: 2,963

• % Change from Prior Month: +7%
• % Change Same Month Last Year: -9%

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TOTAL NET SALES VOLUME: $1,767,884,020

• % Change from Prior Month: +5%
• % Change Same Month Last Year: -10%

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NET SALE PRICE PER SQUARE FOOT:

• Average: $259
  • % Change from Prior Month: -1%
  • % Change Same Month Last Year: -1%
• Median: $224
  • % Change from Prior Month: 0%
  • % Change Same Month Last Year: 0%

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NET SALE PRICE:

• Average: $590,918
  • % Change from Prior Month: -2%
  • % Change Same Month Last Year: -1%
• Median: $446,950
  • % Change from Prior Month: -1%
  • % Change Same Month Last Year: -3%

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LIST PRICE PER SQUARE FOOT:

• Average: $268
  • % Change from Prior Month: -1%
  • % Change Same Month Last Year: -1%
• Median: $231
  • % Change from Prior Month: 0%
  • % Change Same Month Last Year: -1%

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LIST PRICE:

• Average: $612,852
  • % Change from Prior Month: -1%
  • % Change Same Month Last Year: -1%
• Median: $465,720
  • % Change from Prior Month: -1%
  • % Change Same Month Last Year: -2%

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DISCOUNT FROM LIST PRICE:

• Average: -5.3%
  • % Change from Prior Month: -4%
  • % Change Same Month Last Year: -29%
• Median: -3.0%
  • % Change from Prior Month: +2%
  • % Change Same Month Last Year: -29%

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DAYS FROM LISTING TO ESCROW:

• Average: 58 days
  • % Change from Prior Month: -16%
  • % Change Same Month Last Year: -9%
• Median: 25 days
  • % Change from Prior Month: -7%
  • % Change Same Month Last Year: -14%

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HIGH NET SALE PRICE PER SQUARE FOOT: $2,193

• % Change from Prior Month: +96%
• % Change Same Month Last Year: -15%

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HIGH NET SALE PRICE: $7,500,000

• % Change from Prior Month: -6%
• % Change Same Month Last Year: -14%

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NOTE: We do not audit ABOR data. We assume unusual numbers (spikes) are probably due to a Listing Agent misclassifying a property as “Single Family Residential” and/or data entry errors

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ALEX knows more about Greater Austin area than just about anybody.

If you have any questions, I am always here. Just call, text or email me. Diane

Diane Hart Alexander, MBA, MHA, CEO, Broker
Alexander Tiffany Southwest dba ALEX.realestate
v 713.591.9902
e diane@alex.realestate