Question 1

How much does it cost to buy a house in Austin-Round Rock-San Marcos?

Accepted Answer

The median price of a home across Austin-Round Rock-San Marcos was approximately $425,000 for a single family detached home in Q4 2024, which was down by 6.6 percent from August, 2024. The good news, however, is that there is a little more housing inventory on the market, with approximately 5.9 months on the market, consisting of more than 12,000 active listings, 20 percent of which are pending sales. Unlock MLS reports that most homes sell in about 79 days, which is about 10 days more than 2023’s piping hot market. While it remains a competitive market and many homes receive multiple offers and sell above their list price, there is opportunity for buyers as interest rates decline. In fact, the close to list price, which compares the actual price buyers pay to the price sellers set for their property, was 92.8 percent, almost 8 percent below the full list price.

Question 2

Interest rates still seem high. Why should I buy now?

Accepted Answer

Unlock MLS’s real estate agents are asked this question every day. That’s why context matters. Today’s interest rates, which now range between 5.5-7 percent, are still low compared to historic rates that went up to 18 percent. (Ouch!) But owning a home isn’t just about what your interest rate is. Rather, it’s about increasing your net worth, stabilizing your housing cost, and owning a tangible asset over the long term. So should you rent or buy? Check out our mortgage center for a free analysis tool that can help you understand what you can afford.

Question 3

What type of properties are available in the Austin-Round Rock-San Marcos area?

Accepted Answer

Central Texas, Austin and the entire metropolitan area offers an enormous assortment of housing options, from traditional single-family homes to condominiums, townhomes, multi-family buildings, duplexes, apartments and thousands of rentals. Virtually all of the suburban communities are easily accessed from the city by the CapMetro bus system and Metrorail train, easing the commute to downtown Austin and other large suburbs like The Domain, North Lamar, South Park Meadows and the University of Texas (UT Austin). Throughout the area, you can find a mix of downtown-style living in the larger suburbs like Leander, or suburban living in communities like The Hills, Round Rock, Bee Caves, Georgetown or Spicewood Springs. The region has a mix of older suburbs with quaint downtowns and leafy streets populated with Tudor, Cape Cod and Traditional homes, such as Hyde Park or Shady Hollow. You can also find newer suburbs with planned communities that feature Contemporary and Modern homes in The Domain, Cedar Park, Hancock and Buda. Throughout the area, many residents love the lively music and arts scene, robust food culture and eclectic vibe, where diversity is celebrated.

Question 4

When's the best time to buy a house in the greater Austin area and Central Texas?

Accepted Answer

Many Unlock MLS real estate agents say late summer and early fall are the best times to buy a home because sellers can be motivated to sell before the holidays and there may be fewer buyers in the market. But in Austin and Central Texas, our relatively mild weather has created a fairly even buying pattern throughout the year with only a slight decline before the holidays. Depending on your needs and timing, we suggest meeting with one of our agents to develop the right strategy for your particular situation.

Question 5

Is buying property in Central Texas a good investment?

Accepted Answer

Since Austin, Round Rock, and San Marcos and everywhere in Central Texas is such a great place to live, homes here are always in demand. Who doesn’t want a great home, an easy commute, a vibrant economy, and great schools, and a community you love? We believe all those factors have influenced the remarkable rise in property values here over the last several decades. But what’s not talked about is just as important: Study after study shows that homeowners are wealthier over time because when they invest in real property, it can appreciate in the long run. Homeowner equity can add to generational wealth. But whether or not your home appreciates, you’re investing in your own future when you buy a home. You’re investing in yourself. We like to think that there is no better time to invest in yourself than right now.

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