Home sales were also up 4.3% year over year with 1,667 homes sold.
“The data demonstrates that more options are available for potential homebuyers, and sellers are feeling optimistic moving into 2024,” a representative said in a news release.
The breakdown
In Travis County, year over year:
- Sales were down 4.9% with 712 homes sold.
- The median home price was down 3.3% to $478,500.
- New home listings were down 1.1% with 1,398 new listings.
- Active home listings were up 4.3% with 3,819 listings.
- Sales were up 9.6% with 607 homes sold.
- The median home price was down 2.5% to $420,000.
- New home listings were up 9.5% with 992 new listings.
- Active home listings were down 16.8% with 2,307 listings.
- Sales were up 4.6% with 251 homes sold.
- The median home price was down 11.8% to $366,140.
- New home listings were up 8.4% with 450 new listings.
- Active home listings were down 0.4% with 1,281 listings.
- Sales were up 58.8% with 81 homes sold.
- The median home price was up 4.6% to $366,018.
- New home listings were up 33.6% with 183 new listings.
- Active home listings were down 3.8% with 454 listings.
The recent decline in mortgage rates has led to lower home prices and an increase in closings, ABoR housing economist Clare Losey said. Mortgage rates peaked in late October before declining over the following two months.
“January marks the 15th consecutive month of year-over-year median sales price declines in the Austin-Round Rock housing market,” Losey said in the release. “While there are more options available for homebuyers in our market today, more work needs to be done to ensure more affordable housing is available in Central Texas.”
ABoR representatives published a report in November analyzing disparities found in housing affordability and availability in Austin, and in December, City Council approved changes to land-use rules under the first phase of the Home Options for Middle-Income Empowerment initiative.
