The Austin-area housing market experienced a significant slowdown in November, with both sales and dollar volume falling well below last year’s figures. According to data from Unlock MLS and the Austin Board of Realtors, approximately 1,900 residential properties were sold last month, marking a 16 percent decrease compared to November 2024. This represents the lowest monthly total since February and the sharpest year-over-year decline seen in 2025.
Sales dollar volume also declined sharply, dropping by 14.5 percent year-over-year to just under $1.1 billion. This is also the lowest level recorded since February and the largest annual drop this year.
Inventory has continued to build up in the region. The area had 6.3 months of housing supply in November—an increase of one and a half months over last year at this time, and the highest inventory level seen so far in 2025.
Sellers have been adjusting their expectations as well. The average sale-to-list price ratio fell to 91.7 percent in November, close to September’s low point of 91.6 percent.
The slowdown follows an already weaker October for closings and sales volume compared with previous years.
This trend is not unique to Austin; other Texas Triangle cities are experiencing similar conditions. Houston saw the largest drop in median home prices nationwide in September, while Dallas and Houston led U.S. markets for discounted home sales in August. San Antonio reported more failed deals than any other major metro during summer.
Austin’s rapid price increases during the pandemic left it particularly vulnerable as conditions shifted this year. According to Zillow data cited in November, Austin had the steepest average home value loss among major U.S. cities and held the nation’s highest ratio of sellers to buyers earlier this fall.
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