Dec 2023 Austin Market Update

Dec 2023 Austin Market Update

  • Portico ATX Real Estate
  • 02/16/24

New year, new market?

Overall median sales price has been stable in December 2023 compared to 2022. With 1%, this is the smallest year over year decrease we have seen in all of 2023. When we break this greater Austin area number down, we can see that some counties even had a slight year over year increase - namely Travis County and Caldwell County. 

Current months of inventory is 3 months, which is the lowest it has been since March 2023. December’s average days on market is the second highest  in 2023 at 84 days. Housing inventory is back to the 7,000 range while it peeked to 9k and 10k over summer and fall 2023.

Looking back at 2023 as a whole, rises in mortgage rates have decreased purchasing power and led to a drop in closed sales by volume and close price. Looking at 2023 as a whole, median sales price has decreased by 10.2% to $450,000 (for YTD 2023). 

Looking forward into 2024, the housing economist for the Austin Board of Realtors expects relatively flat home prices and sales (+/- 5%).  

Say hello to our newest team member

We are excited to welcome Priscilla to our team!  

Priscilla has been in real estate for the last seven years and brings a deep understanding of Austin’s neighborhoods and suburbs while keeping a close eye on inner city zoning updates and new housing developments.

Having moved here after graduating college, she’s called Austin home ever since and deeply cares about the community. She is here to help you find the home that best suits your needs!

We hope that you and your families made it through the freeze warm and safe and we look forward to serving you in 2024! 


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