2024 Four Points home sales & prices similar to first quarter 2023 

By LYNETTE HAALAND
Four Points News

Home sales and prices during the first three months of 2024 are about the same as they were in 2023 in the Four Points area.

“2024 began with very low inventory but thankfully we have been catching up into April, and now the spring market is heating up and keeping year-to-date sales steady,” said Rhonda Durrill, Realtor and broker associate with Avalar Real Estate and a Steiner Ranch resident. 

There were 56 homes sold locally in the first quarter of 2024 compared to 53 sold in 2023. The median sold price of $791,800 in 2024 is up a fraction compared to 2023’s $790,000. However the sold price per square foot is down slighter from $282 per square foot last year to $273 per square foot this year.

“Inflation at the national level has kept interest rates stubbornly high, which is a big affordability concern for some,” Durrill said. “To alleviate this, 27% of buyers in Four Points purchased with cash during the first quarter (of 2024).”

Durrill said that homes that have been updated are “king” in the Four Points area. Kitchen remodels, bath remodels and new floors are the biggest factors in fetching higher prices and fewer days on the market.

“Buyers are showing a willingness to pay top dollar and put themselves in multiple offer situations to purchase these homes, but don’t seem to have any interest in updating homes themselves and shy away from anything that will require their time and money,” Durrill said.

Looking at the greater Austin metropolitan statistical area in March, new home listings across the Austin-Round Rock-Georgetown MSA jumped to 4,714 new listings, 10.2% more than March 2023, leading to multiple markets reaching four months of inventory. The latest Central Texas Housing Report released by Unlock MLS data indicates that homeowners have confidence in their ability to sell their homes for good value while buyers now have a larger selection of home options, helping to keep price growth flat.  

Clare Losey, housing economist for Unlock MLS and the Austin Board of Realtors, noted that the increase in monthly inventory is a sign of a robust housing market.

“The current housing market is more favorable for first-time homebuyers, with an uptick in new listings for the lowest priced homes. More inventory means more options tailored to buyers’ specific needs and interests, allowing them more personalization and choice of location when looking for their new home. It’s great to see the stability of the current market in the first quarter of 2024,” Losey shared.

Travis County 

  • 1,190 – Residential homes sold, 1.4% more than March 2023.
  • $510,000 – Median price for residential homes, flat to March 2023.
  • 2,320 – New home listings on the market, 3.3% more than March 2023.
  • 4,695 – Active home listings on the market, 11.8% more than March 2023.
  • 1,433 – Pending sales, 6.5% more than March 2023.
  • 4.1 – Months of inventory, 1.3 months more than March 2023.
  • $828,335,704 – Total dollar volume of homes sold, 5.1% more than March 2023.
  • 94.5% – Average close to list price, compared to 94.6% in March 2023.