Dripping Springs Real Estate Market Update July 2024

It has been a few months since I have shown an update on the Dripping Springs real estate market! Here are the stats for the last 30 days from stats pulled from the Austin Board of Realtors MLS for the Dripping Springs ISD market area.

Magnolia Realty Austin Hill Country Dripping Springs Real Estate Market 2024

Homes for sale in DSISD: 389

Pending home sales: 117

Closed in the last 30 days: 78 (14 new construction)

Months of inventory: 5 months

Average closed price: $811,198 with an average of $278/sq ft

Average days on market: 89

List price to close price ratio: 97.8%

Here is a chart pulled from Texas Realtors market research. Their data is always lagging about 6 weeks, but you can see that inventory is growing with 5.6 months of inventory for single family homes in DSISD.

Dripping Springs Real Estate market update 2024

The rental market has also had more inventory and a good price decline this year as more homes have decided to try to rent for a year or two if they didn’t sell in the last 6 months.

Rental market in DSISD

Active rentals: 68

Pending: 18

Closed in the last 30 days: 31

Average monthly rent: $3298, $1.41/sq ft

The biggest culprit to the price declines is mortgage rates staying elevated for longer than expected which has decreased buyer demand due to unaffordability. We anticipated 3-4 rate cute beginning in March and now they are expecting only 1 before the end of the year. This, along with rising insurance and property tax costs has moved more sellers to list their homes and conditions have brought on a buyers market in the Austin area.

Mortgage Rates for Dripping Springs

This could be a great time to purchase a home! If you are looking to buy or sell real estate in the Dripping Springs area then I would love to talk more with you! Just give me a call at 512-569-8480 or email me at laurenclark@magnoliarealty.com

Dripping Springs RealtorLauren Clark

Lauren Clark is a passionate and driven Realtor living in Dripping Springs, Texas and serving the entire Austin and Hill Country area. She marries her 21 years of creative marketing skills with the real estate industry to bring you the best experience possible when buying or selling real estate in the Dripping Springs and surrounding areas.


Magnolia Realty Austin Hill Country

205 Creek Road

Dripping Springs, Texas





TREC License# 756168