The overview
In both Pflugerville and Hutto, the average time homes spent on the market rose in March, compared to March 2024. Concurrently, home sales also declined, with Pflugerville’s home sales dropping from 118 to 93, year-over-year. Hutto’s sales dropped by two, from 95 to 93.
“We started the year with a continuation of similar trends that shaped the market in 2024,” Clare Knapp, housing economist for Unlock MLS and the Austin Board of Realtors, said in the news release. “However, stubbornly high mortgage rates and a weaker local labor market weighed on buyer confidence, while many sellers remained reluctant to adjust pricing expectations. That squeeze on buyer power shaped much of the activity we saw in the first quarter, reinforcing the need for greater flexibility and balance on both sides of the transaction.”
What else?
The MSA experienced a 9.5% increase in new home listings, while inventory rose by 0.7 months. Similarly, the number of new listings in Pflugerville and Hutto increased by 47.6%
Brandy Wuensch, Unlock MLS and ABoR president, said in a news release that market conditions have allowed home buyers to slow down and weigh their options.
“With a wider range of listings to choose from, buyers are using this time to evaluate their choices, be selective and focus on homes that best fit their needs and lifestyle,” Wuensch said. “This shift allows buyers to be more intentional with their decisions and to plan for long-term success.”
Changes to median home prices differed between Pflugerville and Hutto in March. While the median price declined in Hutto—from $362,000 to $358,495—Pflugerville’s median price rose from $399,690 to $418,750.
