Home Values in Austin: Key Insights for Homeowners
- Published on
- 9 min read
-
Kelsey Morrison Former HomeLight EditorClose
Kelsey Morrison Former HomeLight EditorKelsey Morrison worked as an editor for HomeLight's Resource Centers. She has seven years of editorial experience in the real estate and lifestyle spaces. She previously worked as a commerce editor for World of Good Brands (eHow.com and Cuteness.com) and as an associate editor for Livabl.com. Kelsey holds a bachelor’s degree in Journalism from Concordia University in Montreal, Quebec, and lives in a small mountain town in Southern California.
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.
Already Own a Home? What's It Worth Now?
Home values have rapidly increased in recent years. How much is your current home worth now? Get a ballpark estimate from HomeLight’s free Home Value Estimator.
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.
For comparison, the table below shows median home prices in cities near Austin:
| City | Median home price | Distance from Austin |
| Shady Hollow | $642,500 | 24–55 min (13.0 miles) |
| Wells Branch | $433,000 | 22–45 min (15.9 miles) |
| Round Rock | $456,800 | 26–55 min (19.9 miles) |
| Lakeway | $732,900 | 35 min-1 hr 10 min (20.5 miles) |
| Brushy Creek | $575,000 | 28–55 min (21.2 miles) |
| Pflugerville | $397,800 | 28–50 min (21.9 miles) |
| Cedar Park | $493,600 | 30–55 min (21.9 miles) |
| Leander | $440,900 | 35 min-1 hr (27.1 miles) |
| Hutto | $356,300 | 35-55 min (27.9 miles) |
| Georgetown | $425,300 | 35 min – 1 hr 10 min (30.2 miles) |
Home value averages of multiple public transaction sites
Typical travel times 8 a.m. midweek
In the next section, we’ll explain how to estimate the current value of your Austin home.
How to get a home value estimate
If you’re curious about your home’s value — whether for calculating your net proceeds or setting an appropriate list price — there are multiple tools available to help you calculate your home’s value accurately.
Use an online home value estimator
A quick and convenient way to estimate your home’s value is by using an online home value estimator. These tools use data from county records, tax assessments, user inputs, and MLS listings to calculate your home’s worth. HomeLight’s estimator goes a step further by asking seven simple questions to refine the estimate. This preliminary value, available in minutes, is a great starting point for your planning.
Request a comparative market analysis
While online estimators are useful, a more accurate method is to request a comparative market analysis (CMA) from a local real estate agent. A CMA compares your home to similar homes recently sold in your area, considering factors like size, location, and features.
These reports typically include charts, graphs, photos, and other data to provide a comprehensive view of your home’s market value. Many agents offer a CMA for free as part of their listing services.
Let HomeLight connect you with top real estate agents in ATX. This free service matches you with qualified professionals who can help you sell your home for more money. According to HomeLight’s internal data, the top 5% of listing agents sell homes for as much as 10% more than average agents.
Get a pre-listing appraisal
In some cases, a pre-listing appraisal may be necessary for an accurate valuation. This is especially true for homes with unique features, those in rural areas, or properties with large plots of land. A professional appraisal provides an expert evaluation of your home’s worth, ensuring your list price is accurate.
A professional appraisal generally costs between $450 to $550, though this can vary based on complexity. Remember, if your buyer is financing, their lender will order their own appraisal to help determine the loan amount.
How to increase the value of your Austin home
If you’re looking to boost your Austin home’s value, consider these key improvements:
Curb appeal: Enhancing your home’s curb appeal prior to listing is essential, with 92% of realtors surveyed by the National Association of Realtors recommending it. Simple tasks like power washing the exterior, mowing the lawn, laying down fresh mulch, and painting the front door can attract more buyers and increase your home’s value.
Strategic updates: Focus on home improvements that add value, such as updating high-priority rooms like kitchens and bathrooms. Zonda’s 2023 Cost vs. Value Report shows replacing garage doors recoups 103% of the cost, making it a worthwhile investment.
Necessary fixes: Ensuring your home’s major systems, like the roof, plumbing, and electrical, are in good condition can prevent inspection issues and increase buyer confidence.
Decluttering and depersonalizing: Removing personal items and excess furniture can make your home feel more spacious and inviting. According to a HomeLight survey of over 900 top agents nationwide, decluttering can increase your home’s sale price by $8,000 or more.
Deep cleaning: A thoroughly cleaned home attracts more buyers. Another HomeLight survey indicates that deep cleaning can raise your home’s value by $3,700. Focus on freshening up the carpets, grout, windows, and baseboards if you want to make a good impression.
Home staging: Professional staging showcases your home’s best features and helps buyers imagine themselves living there. HomeLight’s Agent Insights Report reveals that staged homes can sell for up to 13% more than unstaged ones. Among the agents included in the survey, 67% said staging helps sell homes in the current market, and 31% considered staging “essential for a sale.”
Unlock Your Equity and Buy Before You Sell
Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.
How to buy before you sell in Austin
If you’re looking to move but have found your dream home before selling your current one, HomeLight’s Buy Before You Sell (BBYS) program could be the solution you need.
BBYS allows you to unlock a portion of your current home’s equity, enabling you to make a strong, non-contingent offer on a new property. With eligible homes, you can access this equity within 24 hours without upfront fees or obligations. This means you can buy your new home first and sell your old one later, avoiding the hassle of coordinating multiple moves.
HomeLight charges a flat fee of 2.4% of your home’s sold price. If your home doesn’t sell within 90 days after you’ve closed on your new property, HomeLight will purchase the home and continue to work with you to sell it. Any profits from the sale, after deducting costs incurred by HomeLight, will be returned to you.
Watch the video below to learn more about HomeLight’s Buy Before You Sell program:
How to find a top agent in Austin
Maximizing your home sale in Austin starts with choosing the right real estate agent. HomeLight’s agent matching service is a handy resource to find top agents in your area. This free tool connects you with up to three agents, selected based on their performance, local expertise, and successful sales.
Selecting an agent with a high sale-to-list ratio is particularly valuable. This ratio shows how closely the final sale price matches the original listing price, indicating the agent’s pricing accuracy and negotiation prowess. A high ratio means the agent frequently sells homes at or above the listing price, which is a testament to their market knowledge and strategic pricing.
Before deciding on an agent, it’s a good idea to interview at least three candidates. Asking the right questions can help you determine which agent is the best fit for your needs. Consider asking these questions during your interviews:
- How long have you been in business?
- How well do you know this neighborhood?
- What types of homes and price ranges do you specialize in?
- What’s your average number of days on market?
- What is your commission rate?
- What would your marketing plan look like for this property?
- Could you provide me with a few client referrals?
By leveraging HomeLight’s agent match tool and asking these questions, you can select an experienced agent who will help you achieve the best possible outcome for your Austin home sale.
Get a free preliminary home estimate today
Whether you’re planning to sell soon or considering a home equity loan, knowing your home’s value in Austin is essential for making informed decisions. With HomeLight’s free home value estimator, you can get an initial estimate of your home’s worth in just minutes.
HomeLight can also connect you with top Austin agents who will help you sell your home for more money or assist you in unlocking your equity to buy a new house before selling your current one. Keeping up with current market trends and leveraging these valuable tools will help you boost your Austin home’s value and make informed choices.
Header Image Source: (Justin Wallace / Unsplash)
- "S&P CoreLogic Case-Shiller U.S. National Home Price Index," Federal Reserve Bank of St. Louis (June 2024)
- "Most REALTORS® Recommend Improving Curb Appeal, and Homeowners Can Benefit Financially and Emotionally by Remodeling Outdoor Features, NAR-NALP Report Finds," National Association of Realtors (March 2023)
- "Top Agent Insights for End of Year 2023," HomeLight (December 2023)
- "Top Agent Insights for Fall 2022," HomeLight (September 2022)
- "Top Agent Insights for Summer 2023," HomeLight (July 2023)
- "2023 Cost vs. Value Report," Zonda (March 2023)
- "February 2024 Mortgage Monitor," ICE Mortgage Technology (February 2024)
- “June 2024 Central Texas Housing Market Report,” Austin Board of Realtors (2024)
- “December 2023 & Year-End Central Texas Housing Market Report,” Austin Board of Realtors (2024)
- “December 2022 Central Texas Housing Market Report,” Austin Board of Realtors (2023)
- “December 2021 Central Texas Housing Market Report,” Austin Board of Realtors (2022)
- “December 2020 Central Texas Housing Market Report,” Austin Board of Realtors (2021)
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.