Today’s focus is on providing a concise analysis of the real estate markets in Travis County, home to Austin, and Williamson County encompassing Round Rock, and Georgetown.
Market Condition:
Both Travis and Williamson Counties exhibit characteristics of a neutral market, indicating a balanced landscape that neither predominantly favors sellers nor buyers. This equilibrium suggests stability in demand, supply, and pricing dynamics.
Closed Price Trend
Compared to February 2023, median closed prices in both counties have experienced slight increases. This upward trend reflects ongoing resilience and potential growth in the real estate sector of the region.
Price / Square Foot
While the median close price per square foot has risen by over 2% compared to the previous year, Williamson County has observed a slight decline in this metric. This nuanced variation underscores the importance of localized factors in influencing market trends.
Listings
Travis County demonstrates a robust 11% increase in active listings, indicating a vibrant market with ample opportunities for buyers and sellers alike. Conversely, Williamson County experienced a softer market with a marginal decrease in active listings year over year.
Sales
Both counties report strong residential sales, demonstrating upward trajectories across various segments of the market. This sustained activity signifies continued interest and investment in the region’s real estate offerings.
Time on Market
In Travis County, homes are taking approximately 8% longer to sell compared to the previous year, suggesting a more deliberate decision-making process among buyers and potentially increased competition among sellers. Conversely, Williamson County experiences only a marginal increase of one day in the time taken to sell homes, reflecting a relatively stable market environment.
The Bottom Line
The real estate markets of Travis and Williamson Counties exhibit signs of resilience, with modest increases in median closed prices, active listings, and residential sales. While both counties maintain a neutral market stance, localized variations underscore the importance of tailored strategies for buyers and sellers navigating these dynamic landscapes. Understanding these market dynamics is essential for informed decision-making and successful outcomes in the real estate sector.
______________________________________________________________________________________
This article is based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS)®. All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price.
Copyright 2024 Austin Central Texas Realty Information Services, Inc.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.