Market Update through Q3
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Oldham Group Austin Update
Austin Market Update through Q3
November 1, 2024
2024 Market Snapshot Through Q3
Sales Volume Decline
Total resale sales volume in 2024 is down -24.4% against the 10-year average and -5% compared to 2023, reflecting a persistently challenging market.
The number of sold units provides a primary indicator of overall market activity. In 2024, sold units remain well below recent highs, with the total number of sales down by -44% from the 2021 peak and -5% compared to 2023. This marks a decrease of -24.4% when measured against the 10-year average.
Days on Market
Days on Market (DOM): Average DOM has quadrupled from 2021 and is now 1.6x the 10-year average, indicating that properties are taking longer to sell.
Success Rate
Success Rate for Sellers: Approximately 33% of listings don’t sell and are withdrawn or expire, reflecting a challenging market for some sellers.
The success rate in real estate refers to the percentage of listings that sell versus those that are withdrawn or expire without a sale. This metric has taken a notable downturn this year, with approximately 67% of sellers successfully selling their properties—down from a 91% success rate during the 2021 boom and below the 10-year average of 81%.
Dollar Volume
Dollar Volume Sold: The total dollar volume sold remains higher than the 10-year average due to stable prices, even with lower transaction counts.
Pricing Stability: Prices have remained steady for 18+ months, and the 2024 median price slightly exceeds 2023, a reassuring indicator of stability.
What Does this mean?
Selling in this market can and does happen with the right strategy. With more competition and longer selling timelines, making your property as appealing as possible (pricing, presentation, and flexibility with showing instructions) is essential to a successful sale.
For tailored insights and expert advice on navigating the luxury market, contact Courtney
Featured Properties
6433 York Bridge Circle
3 BD
2 BA
1,887 SF
$650,000
- Under Contract
Impeccably maintained one story home in the highly desirable Park Place neighborhood of Circle C Ranch. The open floor plan flows seamlessly, making it perfect for entertaining. The spacious family room is adorned with gleaming hardwood floors, a cozy gas log fireplace, and an abundance of natural light that filters through large picture windows, creating a warm and inviting atmosphere. Sit on the private back patio with a cup of coffee! Walking distince to everything Taco Deli, Alamo Draft Houses, School sand more!
Listed by: Courtney Oldham, Compass RE
8505 Whispering Trail
4 BD
3.5 BA
3,678 SF
$890,000
- Under Contract
Discover the elegance and sophistication at 8505 Whispering Trail. This residence features 4 bedrooms, 3.5 bathrooms, a dedicated office, home theater, and a separate game room/flex space. Nestled in the Southwest Austin neighborhood of Ridgeview, this 3678 sf home sits on a 0.27 acre lot at the end of a cul de sac with no direct back neighbor. With an exceptional tax rate of 1.4%, its prime location offers pickleball courts, pool, and the convenience of being within walking distance to the esteemed Austin Waldorf School.
Buyer Representation: Courtney Oldham, Compass RE
1104 Emmitt Run
3 BD
2 BA
1,436 SF
$500,000
- Just Listed
Charming single-story home in HOT East Austin boasts of limestone exterior, gleaming hardwood floors and fresh, neutral paint throughout. The kitchen is beautifully upgraded with quartz countertops, a stylish tile backsplash, and crisp white cabinets offering ample storage and surface space for cooking and entertaining. Experience the best of East Austin living.
Listed by: Courtney Oldham, Compass RE
1305 Westcott Drive Units A & B
4 BD
2.5 BA
1,930 SF
$375,000
- Available
This charming duplex in Round Rock, Texas, offers a prime investment opportunity just half a mile from Dell Diamond. Each unit rents for $1,500 and features modern, carpet-free flooring throughout. The open-concept kitchen flows into the spacious living room, creating a welcoming atmosphere perfect for entertaining. Both units boast large closets, providing ample storage space, and sliding doors lead to a private backyard, offering a peaceful retreat for tenants. Located near major employers and the thriving tech industry, this property offers easy access to I-35, making commuting a breeze..
Listed by: Courtney Oldham, Compass RE
2004 E. 9th Street Unit A
4 BD
2 FB
1,511 SF
$650,000
- Sold
Nestled in the heart of the vibrant Blackshear/Prospect Hill neighborhood of East Austin, this charming two-story bungalow seamlessly blends classic character with modern updates. The property features newly renovated bathrooms, complete with contemporary vanities, elegant lighting fixtures, and stylish hardware, providing a luxurious and comfortable living experience.
Listed by: Courtney Oldham, Compass RE
What’s Happening
Wurstfest
Wurstfest is a unique annual celebration rich in German culture and full of Texas fun! Located near the headwaters of the beautiful Comal River in New Braunfels. Enjoy good food, music, dancing, carnival rides and games, German and domestic beer, special events and the finest in Alpine and Bavarian Style. The best ten days in sausage history.
Food & Wine Fest
Austin Food & Wine Festival is an indulgent weekend party that honors top-tier chefs, winemakers, bakers, artisan spirit-makers and a host of talent in the food and beverage industry. Enjoy a delectable selection of savory and sweet samples all day long. Learn kitchen and grilling skills from the upper echelon of experts.
Creek Show
Alvie’s teamed up with the Nolan Ryan Foundation and Texas baseball legend Nolan Ryan to craft these limited-edition boots. Serving up heat, striking fear into batters, and embodying Texas pride, Nolan Ryan and the Nolan Ryan Foundation are the perfect partners for this one-of-a-kind collaboration.
Go Vote!!
Early voting for theNov. 5 general election is underway in Austin, with a record-breaking number of folks showing up for the first day of early voting compared to previous years. If you haven’t already cast your vote, prepare for the polls with our guide to election season in Austin. Here’s the Voter’s Guide to see what’s on the ballot and who is giving out voter freebies!
Ready to Make a Move
The first step is EASY! Call or text Courtney.
We’ll set up a time to carefully evaluate all options and put together the BEST plan & timeline for you and your family. We’ve helped thousands of clients navigate buying and selling in Austin over the last 17 years. We’d be honored to help you, your friends and colleagues.
Courtney Oldham
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The information contained herein does not purport to be complete nor, necessarily, accurate and should be independently verified; nor does it represent or constitute a legal analysis or financial advice. All of the financial projections and/or conclusions are provided for illustration purposes only. Compass and its agents disclaim any and all liability for representations and warranties, express or implied, contained in, or for omissions from, the information contained herein or any other written or oral communication transmitted or made available to the recipient. This represents an estimated sale price for this property. It is not the same as an opinion of value in an appraisal developed by a licensed appraiser under the Uniform Standards of Professional Appraisal Practice.
