In May, new listings in the Austin-Round Rock-San Marcos MSA rose 8.9% to 5,716 listings, increasing housing inventory to 5 months, 1 month more than May 2024, according to the latest Central Texas Housing Report released by Unlock MLS. At the same time, home sales dipped 3.8% to 3,021 sales, while the median sales price edged down 1.6% to $449,900. Despite modest declines in sales and prices, the market is showing signs of resilience as pending sales climbed 16.1% to 4,515 — the strongest month of the year so far.
Clare Knapp, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS , shared that the data reflects healthy market adjustments that could ultimately lead to more balanced conditions for buyers and sellers.
“At some point, a slowing market can motivate sellers to adjust prices to better align with what buyers can afford. We’re seeing that dynamic begin to unfold in Central Texas. It’s not that demand has disappeared — buyers still want homes here but affordability remains a key factor. Many are waiting for the right opportunity or more favorable pricing. The notable increase in pending sales in May signals that buyer activity has picked up after a challenging first quarter. While higher mortgage rates continue to impact buyer confidence, these trends point to cautious optimism as we move into the summer.”
