Austin Real Estate Trends: Sold Over List Price from 2000 to 2024
Published | Posted by Dan Price
Sold Over List Price in Austin: What 20+ Years of Data Reveals
Over the past two decades, the Austin real estate market has experienced significant fluctuations in the percentage by which homes sell over their list prices. This data, ranging from 2000 to 2024, reveals compelling trends in Austin's housing market, offering insights into buyer behavior and market competitiveness. From a steady climb in over-list sales percentages through the early 2000s to peak demand in recent years, Austin's housing market has shown how dynamic it can be.
In the early 2000s, the percentage of properties sold over list price in Austin started modestly. In 2000, the average percentage peaked at 30.8% by June, highlighting a growing interest in Austin’s real estate market even then. This pattern of sales percentages hovering in the high teens and low twenties continued into the 2000s, with some monthly highs reaching just above 26%. Despite some fluctuations, the market remained relatively stable until 2020.
The Austin real estate market experienced its most dramatic surge in 2021. During this period, the percentage of properties sold over list price reached unprecedented heights, with an April high of 72.6%. These elevated percentages persisted throughout the year, reflecting a time of strong demand and highly competitive bidding. Many factors contributed to this demand spike, including positive net migration, increased employment opportunities, and a desirability that led to intense buyer competition. This trend extended slightly into 2022, though the numbers started to decline as the market began cooling. By mid-2022, as inventory levels increased and buyer demand started to wane, the average percentages of properties sold over list price dropped from 64.7% in March to 11.6% by December.
In 2023, the market continued its downward trend, with percentages stabilizing to levels last seen before 2011. For example, the highest percentage of over-list sales was in April at 17.9%, a significant decrease compared to the peaks of previous years. As of October 2024, Austin’s real estate market is seeing the lowest percentage of properties sold over list price in over a decade, reflecting a new era where buyers have greater opportunities to purchase homes without the need to outbid list prices.
Throughout the past few years, Austin has transformed into a balanced market, where buyers are finding more options and less competition. With the surge in over-list sales percentages cooling, it has become an opportune time for buyers who were previously priced out. As Austin continues to evolve, these trends demonstrate that while the market can be fiercely competitive, there are periods when opportunities for buyers emerge, enabling them to find the right home at the right price
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