Home Values in Austin: Key Insights for Homeowners
Wondering about the current value of your home in ATX? Whether you’re considering selling, want to cancel PMI, or are just curious about home values in Austin, having up-to-date information is essential for making smart decisions.
In this article, we’ll cover the latest home price trends in Austin, detail how to get an accurate home value estimate, and offer simple strategies to boost your home’s value. Plus, we’ll introduce helpful tools to make sure you get the best price when it’s time to sell your Austin home.
Editor’s note: This post is for educational purposes and is not intended to be construed as financial advice. HomeLight always encourages you to consult your own advisor.
Current home values in Austin
Since 2020, the median home value in the Austin metro area has increased by 27%. At the beginning of the decade, the typical home sold for $344,000, but as of June this year, it sold for $450,000, according to data from the Austin Board of Realtors (ABoR).
“Homes are selling at 96.4% of original list price, but the homes that are selling are moving because they are showing well and priced appropriately,” said Kent Redding, 2024 ABoR and Unlock MLS president, in a recent press release.
“Price and presentation are the top two critical components to a successful sale, whereas time on the market can be a big detractor.”
The table below shows the fluctuations in home prices in the Austin region over the past five years:
Year
Median home price
Percent change year-over-year
2024 (June)
$450,000
-6.3%
2023
$450,000
-10.2%
2022
$503,000
+11.4%
2021
$450,000
+30.8%
2020
$344,000
+9.2%
Source: Austin Board of Realtors
Nationwide trends mirror what’s happening in Austin. The Case-Shiller National Home Price Index reveals that U.S. home prices have climbed 47% since the beginning of 2020. This surge has allowed homeowners to build up significant equity in their properties. According to ICE’s Mortgage Monitor report, as of early 2024, the average homeowner with a mortgage holds $299,000 in equity.
In the next section, we’ll explain how to estimate the current value of your Austin home.
