Welcome to this month's Austin Market Report, where we dive into the latest trends and statistics that are shaping the vibrant Austin real estate landscape.

Here's what you need to know:

Market Mood

October saw a neutral market. Not hot, not cold – just steady. We are experiencing an uptick in curiosity and activity from would-be buyers and sellers, indicating an active start to the new year and equal competition among buyers and sellers.

Homes on Deck

Total listings dipped 5.9%, bringing the count to 2,994. October added 881 new listings to the market, a 1.7% increase year-over-year.

4.8 Months of Inventory

There’s a balance – not a clear edge for buyers or sellers.

Sales Pulse

578 homes sold in October, a slight increase from last month, but a slight decline year-over-year at 3.8%. Buyer activity was up significanly with 644 new contracts, a 28% incrase from last year.

Price Tag Trends

Average Sales Price is up 1.4% to $820,142

New Contracts Written: 644, ranging from $192,500 to $6,350,000

Median List Price U/C = $615,000

Average List Price U/C = $822,666

Average List Price: From $175,000 to $19,500,000

Median List Price = $649,950

Average List Price = $1,152,631

Buyer and Seller Clues

Homes took an average of 81 days to sell, stretching out by 15.7% compared to last month. The Average Sold Price to Original List Price Ratio is a steady 91%. Sellers are negotiating but have held firm at 90% to 91% for the last three months.

All in all, we’re in a balanced spot. The numbers hint at cautious buyers and steady sellers, keeping the market cruising without too much sway in either direction. We expect normal fall/winter activity, fewer listings, and fewer sales. We are working with many soon-to-be buyers and sellers, preparing to hit the January with force.