Executive Summary
- Sales Volume Declines: Home sales across the Austin metro area fell 9.6% year-over-year in October, a sharp reversal from September’s sales surge.
- Prices Remain Stable: The median sale price experienced a minor increase of 1.4% to $439,000, marking seven consecutive months of price stability.
- Inventory Nears Balance: The supply of homes for sale rose to 5.3 months, signaling a market that is moving closer to a healthy balance between buyers and sellers.
- Pending Sales Increase: Despite the slowdown in closed sales, pending sales rose by nearly 6%, indicating continued buyer activity in the market.
The Central Texas housing market experienced a significant cooling in October, with home sales across the Austin-Round Rock-San Marcos metro area falling 9.6% compared to the same month last year. This slowdown comes after a notable surge in September, while the median home price remained stable, rising just 1.4% to $439,000, according to new data from Unlock MLS.
Market Normalization Underway
In October, 2,238 homes were sold across the metro area, a sharp contrast to September’s market which saw the strongest sales growth of the year. Despite the drop in sales volume, indicators suggest a market shifting toward equilibrium. The supply of homes for sale increased to 5.3 months, approaching the six-month level often considered a balanced market between buyers and sellers. Additionally, pending sales saw a nearly 6% rise, suggesting sustained buyer interest.
“After several years of volatility, what we’re seeing now is a housing market that’s functioning the way it should,” said Vaike O’Grady, research advisor at Unlock MLS. “Pricing has been steady for months, inventory is in balance, and the Federal Reserve’s recent interest rate cuts have boosted buyer confidence, as shown in increased pending sales activity.”
County-Level Performance Varies
While the overall region cooled, performance varied by county. The city of Austin saw sales remain nearly flat with a 0.5% year-over-year increase, and Travis County sales dipped by a modest 1.6%. Both areas significantly outperformed the broader metro area but still represented a marked deceleration from September’s double-digit gains.
Other counties experienced more pronounced declines. Williamson County sales fell 12.5%, with its median price decreasing 3.6% to $414,000. Hays County recorded a 16% drop in sales, while Bastrop and Caldwell counties saw sales fall by 27% and 53%, respectively.
A Healthier Market Outlook
Brandy Wuensch, 2025 president of Unlock MLS and the Austin Board of Realtors, noted that the data reflects a healthy adjustment. “Affordability challenges remain in Central Texas, but we’re seeing more buyers re-enter the market as pricing holds steady and inventory expands,” she said. The rental market also showed signs of stabilization, with the median rent across the metro area falling approximately 2% to $2,150.
