Happy New Year from Sean Harden Realty! 🥳🎉
As we step into 2025, we’re excited to bring you the latest updates from the Austin real estate market. December closed out 2024 on a strong note, with steady pricing, balanced inventory, and promising signs of growth. Whether you're buying, selling, or just keeping an eye on the market, we’ve got the insights you need to navigate this year with confidence. Let’s dive in...🌟
December 2024 Market Highlights 📊
- Total Sales 📈: Increased by 4.1% Year-over-Year (YoY), reflecting solid demand despite broader economic headwinds.
- Pending Sales 🔻: Declined slightly by 2.1% YoY, but remained relatively stable overall.
- Active Listings 🏡: Rose by 7%, helping to keep Months of Inventory (MOI) balanced at 4.0, signaling a healthy market.
- Pricing Stability 💵:
- Average Sold Price climbed 4.2% YoY to $575,000.
- Median Sold Price saw a modest increase of 1.4% YoY to $449,000.
- New Listings 🆕: Increased by 8.8% YoY, indicating more options for buyers.
- Withdrawn/Expired Listings ❌: Up by 9.5%, suggesting some sellers are pulling back, but it’s a normal part of market fluctuations.
Market Summary 🏘️
The Austin Metro market has shown remarkable stability in terms of pricing, with gradual growth in both the average and median sold prices. Even though higher mortgage rates have kept some buyers on the sidelines, solid demand remains. The job market, especially in tech, is stabilizing, which is a positive sign for 2025. While mortgage rates are still hovering around 7%, we anticipate slight improvements in the coming months, which could further energize the market.
What’s Next for 2025? 🚀
For Buyers: The spring market is just around the corner, and now is a great time to start preparing! With stable prices and inventory levels, you have time to find the right home. If mortgage rates dip into the mid-6% range later this year, buyer competition will heat up, so don’t wait too long to make your move! 🏃♂️💨
For Sellers: The market is entering its prime selling season! With balanced inventory and steady demand, now is the time to prep your home for sale. If you’ve been considering selling, strategizing for a spring or summer listing could set you up for a successful sale. 📅✨
Looking Ahead 🔮
The outlook for Austin’s real estate market in 2025 is optimistic, with stable prices, a balanced inventory, and improving economic conditions. Whether you're thinking of buying or selling, it’s the perfect time to start planning and set yourself up for success this year.
If you’re ready to take the next step, reach out to us at Sean Harden Realty – we’re here to guide you every step of the way! 📞💬
Cheers to a fantastic 2025! 🥂
Here’s to new beginnings, new homes, and new opportunities!
