Westlake - Austin Real Estate News

November 2024 was an odd one for Westlake

• Per the graph to the right the 2024 November Average Sales Price (ASP) was $2,066,117 versus 2023 ASP of $3,743,950. This is a year over year drop of 44.8% comparatively due to having a strong November in 2023 as far as sales price.  There were a couple expensive properties that in November 2023 were a bit of an anomaly that pushed the ASP up significantly for the month.
• The lowest 2024 monthly ASP was in January at $872,500. This was due to only 2 properties selling in January at well below the statistical averages for the area.
• The highest 2024 ASP was in October at $2,616,488
• The 2023 and 2024 monthly ASP trended similar through the year to date with the exception of November as described in the first point above.
• Number of home sales was 13 which is a 30% increase over same month 2023.
• Days on Market increased to 104 representing a 7.26% increase comparatively.
• Price Per SqFt for November was $695 which is down 12.5% compared to November 2023.
• Months of inventory was 7.3 in 2024 compared to 4.6 months in 2023 (up 87% vs prior year)