The Austin-area housing market experienced a notable slowdown in November, with both home sales and dollar volume reaching their lowest levels since February. Data from Unlock MLS and the Austin Board of Realtors show that approximately 1,900 residential transactions closed last month, representing a 16 percent drop compared to November of the previous year. This decline marks the steepest annual decrease seen in 2025.
Sales dollar volume followed a similar trend, falling below $1.1 billion—a 14.5 percent decrease year-over-year. This figure also represents the largest annual drop recorded this year.
Inventory levels have risen sharply, with the region accumulating 6.3 months of housing supply in November. This is about one and a half months higher than last November and stands as the highest inventory level for 2025 so far.
Sellers are increasingly making concessions to close deals. The average sale price compared to listing price declined to 91.7 percent in November, nearing September’s low point of 91.6 percent.
Market conditions have softened not only in Austin but throughout major Texas cities such as Houston, Dallas, and San Antonio. Recent data indicates that Houston experienced one of the nation’s largest decreases in median home prices in September, while Dallas and Houston led U.S. metro areas for discounted home sales in August. San Antonio reported more failed closings than any other large metro over the summer.
Austin’s market correction has been particularly pronounced following significant growth during the pandemic years. According to Zillow, Austin saw the greatest loss in average home value nationwide in November and had the highest ratio of sellers to buyers earlier this fall.
“The trend represents a drop-off compared to October, which already trailed last year in closings and dollar volume.”
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