Austin Market Dashboard — “if-fy” 2025

It has been two months since I updated my market dashboard for you (Austin Market Dashboard Updates, July 1, 2025), so this post is past due. For those of us who are actively involved in the market as brokers, agents, or home sellers or buyers, this data won’t be especially surprising, but if you haven’t followed closely, I hope this is useful.

For perspective, recall that the last year of the previous market cycle was 2012. After that transition, we spent 10 years with listing inventories far below what we previously considered “normal” or “balanced.” That situation reached unprecedented extremes in mid-2020 through mid-2022, with upward price momentum lasting into 2023.

You can see that time circled in this chart:

From September 2020 through April 2022, more homes were sold than were listed. Inventories at 3-months’ supply were already half of what was typical in previous market cycles, but during that upside-down market environment, the supply of homes dipped to a little as two weeks!

The ratio of unit sales to listings shows the supply-and-demand imbalance even more dramatically:

In March 2021, almost three times as many homes sold as were listed, and in February 2022, the ratio was more than 200%.

That imbalance drove home prices to new highs:

The price acceleration in 2021 is obvious, but home prices soared even higher in 2022 and returned seasonally in 2023 and 2024. Notice in the second chart above that the ratio of sales to listings has trended downward over the past 18 months or so. Prices still remain far below the 2022 spike. I have circled the period from late 2024 to now, highlighting the uncertainty in home prices during the Spring and Summer of 2025.

In most of the Austin metropolitan area, the market remains challenging, with sparse buyer activity and listing inventories still growing. The “days on market” metric is up, and we’re seeing more price reductions than in most of the past couple of years. As always, I’ll continue to update you as we see the market environment move through this difficult time.