The Travis County housing market continues to reflect a post-pandemic normalization phase, characterized by elevated inventory, moderating prices, and more balanced buyer–seller dynamics. Using data from the Austin ABOR MLS, this analysis examines November 2025 in the context of the same month in 2024 and 2023, while also evaluating longer-term trends in pricing, inventory, sales activity, and new listings.
Year-over-Year Comparison: November 2025 vs. 2024 and 2023
In November 2025, the median sales price stood at $505,000, slightly below $515,000 in November 2024 and meaningfully lower than $510,000 in November 2023. While prices have largely stabilized compared to last year, they remain well below the 2022 peak, signaling a market that has reset rather than rebounded sharply.
Closed sales in November 2025 totaled 867, down from 899 in November 2024, but modestly higher than 840 in November 2023. This suggests steady, though restrained, buyer activity amid affordability challenges and higher interest rates.
Sales dollar volume reached $0.588 billion, slightly lower than November 2024 ($0.621 billion) and comparable to November 2023 ($0.571 billion), reinforcing the theme of stable but subdued transaction activity.
One of the most notable changes is inventory. Months of inventory rose to 5.2 months in November 2025, up from 5.4 months in 2024 but well above 3.9 months in November 2023, confirming that Travis County has transitioned from a seller’s market to a more balanced, buyer-friendly environment.
Median Sale Price Trend: Stabilization After Correction
The median sales price trend over the past four years tells a clear story. Prices surged in early 2022, peaking above $650,000, before declining throughout late 2022 and 2023. By 2024 and 2025, prices largely flattened, fluctuating within a narrower band between the high $400,000s and low $520,000s.
In 2025, median prices showed modest seasonal increases during spring and early summer but softened again in the fall. This pattern suggests that while demand remains, buyers are price-sensitive and unwilling to chase aggressive pricing. Overall, the price trend points to stability rather than appreciation, a significant shift from the rapid gains of prior years.
Months of Inventory Trend: A More Balanced Market
Months of inventory has steadily increased since 2022, when levels were well below one month during the height of the seller’s market. By late 2023, inventory hovered around four months, and in 2024–2025 it frequently exceeded five to six months.
In 2025, inventory peaked at 6.9 months during the summer, before easing slightly to 5.2 months in November. This sustained elevation indicates ample housing supply and gives buyers more leverage in negotiations. Sellers, meanwhile, must price competitively and prepare for longer days on market.
Closed Sales Trend: Lower Than Peak, But Resilient
Closed sales volume has normalized significantly from the record highs of 2022. Annual sales activity declined sharply in 2023 and has since stabilized through 2024 and 2025.
While monthly sales in 2025 generally tracked slightly above 2024 levels during the spring and summer, they softened again toward year-end. This suggests that demand exists, but is constrained by affordability, financing costs, and cautious consumer sentiment. Still, the market remains active rather than stagnant.
New Listings Trend: Elevated Supply Continues
New listings remain historically elevated. Throughout 2024 and 2025, monthly new listings consistently exceeded levels seen in 2023 and far surpassed 2022 figures.
In November 2025, 1,126 new listings entered the market, slightly lower than November 2024 (1,153), but still well above November 2023 (1,240) when considering overall inventory accumulation. This steady flow of new supply has kept active listings high and prevented meaningful downward pressure on inventory levels.
Conclusion: A Market Defined by Balance and Caution
The Travis County real estate market in late 2025 reflects a clear departure from the volatility of the past few years. Prices have stabilized, inventory remains elevated, and sales activity is steady but cautious. Buyers benefit from increased choice and negotiating power, while sellers must adjust expectations and pricing strategies.
Looking ahead, meaningful price appreciation is unlikely without a major shift in interest rates or economic conditions. Instead, the market appears poised to remain balanced, favoring informed decision-making, realistic pricing, and patience on both sides of the transaction.
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