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Northwest Hills & Austin Market Report: April 2025
The latest market trends for Northwest Hills, Westover Hills, and luxury homes in 78731 and 78759.
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Explore our Northwest Hills neighborhood guide and browse current homes for sale in 78731. View Northwest Hills |
Austin Real Estate Market Update: April 2025
Spring Market in Full Bloom: What Buyers and Sellers Need to Know
The Austin real estate market is showing strong signs of balanced growth as we move deeper into the spring season. April 2025 brought an impressive surge in both new listings and buyer activity, creating a dynamic yet stabilizing market across Austin's most desirable neighborhoods.
Key Market Insights
New Listings at a 3-Year High: The City of Austin saw 1,764 new single-family home listings hit the market in April, representing a 12.9% increase compared to April 2024. This influx of inventory provides more options for buyers looking to find their perfect home in Austin's sought-after neighborhoods like Tarrytown, Northwest Hills, and Barton Creek.
Strong Buyer Demand: Despite the increased inventory, buyer interest remains robust with new contracts up 10% year-over-year at 1,178. This marked another 3-year high, indicating that Austin continues to be a destination for homebuyers seeking luxury properties and family-friendly communities.
Balanced Price Growth: The median closed price for single-family homes in Austin held steady at $629,500, reflecting a modest 1% increase from last year. This stabilization suggests a healthier, more sustainable market compared to the rapid appreciation seen in previous years.
Quicker Sales Process: Properties spent an average of 43 days on market in April, down 2 days from the previous year and significantly lower than March's numbers. This decrease signals strengthening buyer activity at the peak of the spring market.
Supply and Demand Dynamics
With approximately 4.96 months of inventory currently available in Austin, we're seeing a relatively balanced market that slightly favors buyers. Real estate economists typically consider six months of inventory to represent a perfectly balanced market between buyers and sellers.
The total active single-family listings reached 3,590 in April, representing a 20% increase from the same period last year. This expanded inventory gives buyers more negotiating power than they've had in recent years, particularly in luxury neighborhoods where selection has improved.
Price Tags and Market Metrics
- Median Sales Price: $629,500
- New Contracts Written: 1,178
- Median List Price of Homes Under Contract: $615,000
- Average List Price of Homes Under Contract: $778,067
- Median List Price of All Homes: $647,000
- Average List Price of All Homes: $820,302
Neighborhood Spotlights
Austin's diverse neighborhoods continue to offer unique living experiences for every lifestyle preference:
Northwest Hills: Known for its stunning hill country views and excellent schools, this established neighborhood offers homes ranging from classic mid-century designs to contemporary new builds. The area provides easy access to downtown Austin while maintaining a serene retreat atmosphere.
Tarrytown: This prestigious central Austin neighborhood features historic homes, tree-lined streets, and a tight-knit community. Properties here continue to command premium prices due to proximity to downtown and exceptional quality of life.
Barton Creek: Luxury living defines this southwest Austin enclave, with larger lots, upscale amenities, and proximity to outdoor recreation along the greenbelt and Barton Creek Resort.
Northwest Hills Market Highlights
The Northwest Hills real estate market continues to show strong activity this spring. As one of Austin's most desirable neighborhoods in the coveted 78731 zip code, Northwest Hills offers a perfect blend of hill country views, excellent schools, and convenient access to downtown Austin.
Northwest Hills homes for sale currently range from mid-century modern gems to contemporary new builds, with median list prices around $1,412,500. Properties with Doss Elementary school zoning continue to command premium prices.
Key Northwest Hills Stats (78731)
- Active, Pending, and Sold Listings: 38 single-family homes
- Median List Price: $1,412,500
- Average Days on Market: 46
- Months of Inventory: 3.2 (slightly favoring sellers)
Westover Hills Market (78759)
The neighboring Westover Hills area in 78759 is seeing similar strong activity with 40 active, pending, and sold listings, and a median list price of $1,129,125. Homes for sale in Westover Hills are spending an average of 76 days on market.
Austin Market Overview
New listings for single-family homes in Austin continue to surge. In April, we added 1,764 new listings, a 12.9% increase from the previous year and a 3-year high. Buyer demand also surged with new contracts up 10% from the previous year at 1,178.
The median closed price remains steady, up almost 1% from the previous year at $629,500. The average days on market decreased to 43 days, down 2 days compared to last year and significantly lower than March, indicating strong spring buyer activity.
The Average DOM shows the number of days a property was on the market before it sold. An upward trend indicates a move toward a Buyer's market. The shorter DOM in Northwest Hills (35 days) compared to the citywide average (43 days) demonstrates the neighborhood's continued desirability.
Monthly Supply of Inventory
Austin currently has approximately 4.96 months of inventory, suggesting a balanced supply and demand market. This is good news for buyers in the Northwest Hills and Westover Hills areas, who now have more options to choose from compared to last year.
Real estate economists tell us a six-month supply of For Sale Inventory represents a balanced market between sellers and buyers. Over six months indicates a Buyer's market, while less than six months indicates a Seller's market.
Tips for Buyers and Sellers
For Buyers:
- Take advantage of increased inventory by being selective
- Be prepared to act quickly on properly priced homes in top neighborhoods
- Consider homes that have been on the market 30+ days as potential opportunities for negotiation
- Remember that homes are selling at approximately 95.58% of original list price
For Sellers:
- Strategic pricing is essential with nearly half of homes experiencing price reductions
- Properly staged and well-prepared homes continue to sell more quickly
- Work with an experienced luxury real estate agent who understands your specific neighborhood's market dynamics
Looking Ahead
As we move further into spring and approach the summer months, we anticipate continued stability in the Austin real estate market. The current balance between supply and demand suggests a healthy market environment for both buyers and sellers, particularly in Austin's established luxury neighborhoods.
At Keenan Group, we remain committed to providing our clients with unparalleled market insights and exceptional service. Whether you're looking to buy or sell in Austin's competitive market, our team of luxury real estate specialists is here to guide you through every step of the process.
About Keenan Group at Compass Real Estate
At Keenan Group, we believe luxury real estate is more than just buying and selling homes — it's about building legacies, creating meaningful relationships, and delivering an unparalleled client experience. With over 24 years of excellence in Austin real estate, we have established ourselves as trusted advisors in Austin's competitive luxury market, offering tailored solutions and timeless relationships that extend beyond the transaction.
Ready to achieve your next real estate goal? Contact Joe & Cara Keenan at (512) 415-7653 or [email protected] to schedule a consultation.
The Keenan Group at Compass: Tailored Solutions, Timeless Relationships
Looking for Your Dream Home in Northwest Hills?
With over 25 years of expertise in Northwest Hills and 78731 real estate, we provide unmatched market insights and personalized service.
Ready to explore luxury homes in Northwest Hills or learn more about homes for sale near Doss Elementary? Contact us today!
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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
Data obtained from the Austin Board of Realtors Multiple Listing Service | Single Family | The City of Austin
Source: MLS data 1/1/2024-4/30/2025. Based on sold list and sell volume for residential properties at all price points. Results deemed accurate but not guaranteed.
