Austin Area Real Estate Market: Year-Over-Year Appreciation Trends for 2024
Published | Posted by Dan Price
Austin Area Housing Market: Year-Over-Year Appreciation Analysis
December 17 2024 : The Austin area real estate market has experienced significant growth over the past two decades, with some cities standing out for their long-term appreciation rates and others facing recent price corrections. Data from 2000 to 2024 reveals clear trends in average and median sold prices across cities such as Austin, Leander, Wimberley, Burnet, and many others. This detailed analysis highlights which markets have delivered the strongest growth and identifies emerging opportunities as well as cities where prices have cooled in the past year.
In Austin, the average sold price grew from $218,205 in 2000 to $751,478 in 2024, representing a total increase of 244 percent over 24 years. The median sold price followed a similar upward trend, rising from $159,900 to $572,955. This steady appreciation translates to a compound annual growth rate of approximately 5.3 percent for average sold prices and 5.5 percent for median sold prices. Austin remains a stable market with modest year-over-year growth of 0.7 percent for average prices and 0.2 percent for median prices in the most recent year.
Leander emerged as one of the top performers in the Austin area housing market. The average sold price skyrocketed from $129,266 in 2000 to $571,688 in 2024, an impressive 342 percent increase over the period. Leander’s median sold price saw even stronger growth, rising from $109,633 to $485,600. Both appreciation rates reflect a compound annual growth of 6.4 percent, placing Leander near the top of Austin area cities for long-term price increases. Over the past year, Leander’s average prices grew by 3.1 percent, signaling consistent demand and robust market activity.
Wimberley also stood out for its remarkable appreciation. Between 2000 and 2024, the average sold price increased by 348 percent, climbing from $156,972 to $702,450. Median prices followed closely, rising from $140,000 to $521,400. These numbers represent a compound annual growth rate of 6.4 percent for average prices and 5.6 percent for median prices. Recent performance has been equally strong, with average sold prices rising by 12.7 percent year-over-year. Wimberley’s combination of long-term appreciation and strong recent growth reflects its appeal among buyers looking for value and growth potential.
Burnet has also delivered exceptional long-term results for homeowners and investors. The average sold price grew from $135,819 in 2000 to $549,005 in 2024, marking a 304 percent increase over the period. Median prices similarly increased from $107,500 to $408,383, representing a compound annual growth rate of 5.7 percent. Most notably, Burnet’s median sold prices grew by 23.8 percent over the past year, positioning it as one of the fastest-growing markets in the Austin area.
While many cities have shown consistent appreciation, others have experienced short-term corrections. For example, Buda saw its average sold price drop by 9.6 percent from 2023 to 2024, moving from $448,600 to $405,406. Similarly, its median sold price fell by 9.8 percent year-over-year. Cedar Creek also recorded a decline, with average prices decreasing by 6.5 percent and median prices by 10.5 percent. Lakeway, a historically strong market, saw average sold prices drop by 5.6 percent and median prices decline by 8.4 percent over the same period. These corrections reflect changing market conditions, likely influenced by affordability challenges and shifts in demand.
Manchaca delivered the strongest year-over-year performance among Austin area cities. Average sold prices jumped by 24.6 percent, while median sold prices increased by 4.9 percent. Smithville followed closely with a 15.1 percent year-over-year increase in average sold prices and an 11.1 percent increase in median prices. Both markets are experiencing renewed demand, driven by affordability relative to larger cities and attractive growth potential.
Cities such as Taylor and Del Valle continue to show solid growth despite a slower pace. Taylor’s average sold price grew by 1.8 percent year-over-year, while Del Valle saw a 2.7 percent increase. These numbers suggest steady market activity in smaller cities that remain attractive for buyers seeking affordable housing options.
Overall, the Austin area real estate market shows a mix of consistent long-term appreciation and localized market adjustments. Cities like Austin, Leander, and Wimberley continue to offer strong long-term returns, while markets like Burnet and Manchaca are experiencing notable short-term gains. On the other hand, cities such as Buda, Cedar Creek, and Lakeway reflect areas where prices have softened, presenting potential opportunities for buyers looking for value in a correcting market. The combination of historical appreciation data and recent trends provides valuable insights for homebuyers, sellers, and investors looking to navigate the dynamic Austin area housing market.
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