2024 Austin Real Estate Market Forecast – What to Watch for This Year

Watch below for Jaymes’ predictions for this years real estate market in Austin!

In this video Jaymes shares some interesting insights about the holiday home sales and the notable number of homes that were taken off the market. Our analysis leads us to believe that there’s likely to be an increase in inventory this year, and that’s backed by data regarding listings that didn’t sell.

It’s clear that the market is currently experiencing low inventory, yet the demand remains robust. This creates an advantageous situation for sellers, particularly because inventory tends to increase in the spring and summer, meaning there’s less competition at the moment.

We are strongly encouraging our sellers to take action now, given the low inventory levels and the recent dip in interest rates, which finished off the year at 6.61%. This is also an opportune moment for buyers to step into the market before the rates potentially decrease even further which will fire the market back up.

When we look at last year’s active listings and compare them to this year’s numbers, we see a similar market landscape, which indicates a solid start to 2024. Our advice to our sellers right now to seize this moment and not to delay until summer to make a move.

The trend of falling interest rates is likely to draw more buyers into the market in the upcoming months, particularly January, February, March, and possibly April. This timeframe could be ideal for selling, and we suggest buyers make their move now before the competition intensifies.

Reach out to us below with any questions you might have about property values or specific market conditions!

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