Major takeaways
- The median home sales price in ZIP code 78727 in the McNeil area declined 19.6% year over year in May, while the number of homes sold increased 4.6% in the same timeframe. The average number of days a home spent on the market decreased 28% year over year as well.
- ZIP code 78729 in the Lake Creek Parkway area experienced a 51.9% decline in home sales year over year for May, dropping from 27 to 13 homes sold. The average number of days homes spent on the market in this ZIP code also increased 85.7% year over year.
- The median price of homes sold in the Anderson Mill and Jester areas in ZIP code 78750 increased 74.4% year over year in May from $429,000 to $748,000. The number of homes sold in this ZIP code increased 3.7% year over year as well.
- The Domain area in ZIP code 78758 had 15.4% fewer homes sold in May compared to the previous year, alongside 29.4% more days spent on the market on average.
- ZIP code 78759 in the Great Hills and Gateway areas saw a 10% decrease in the number of homes sold, but also a 15.8% decrease in the average amount of days spent on the market.
- Across the market, there were 32 fewer homes sold in May compared to the previous year, with 148 in May 2024 and 116 this May. There were more active listings, however, with 536 this May compared to 476 last May.
- Months of inventory across Northwest Austin increased from 3.5 last May to 4.6 this May, a measure used to describe how long it would take for the amount of homes on the market to be sold, according to the National Association of Realtors. Six months of inventory indicates properties may slowly become more valuable over time, while less than six months may mean home prices are rising more rapidly, per the NAR.
