Austin, TX

In the current cooling market, the extended median days on market and the lower pending ratio suggest that properties are not moving quickly, placing less immediate pressure on buyers to act. Negotiating leverage likely favors a measured approach, with a greater emphasis on price discipline given the year-over-year declines in median listing prices. The pace of transactions is slower, and inventory, while contracting, continues to be absorbed at a more moderate rate.

Average listing prices have fallen by 8.5% year-over-year, and median price per square foot has concurrently declined by 8.3% over the same period. This synchronized decline in average price and median price per square foot suggests a broad softening across price tiers, including the higher end of the market.

11,974 active listings represent the current floor, with new supply arriving at roughly 4,084 per month.

of active listings carry a price reduction, -2.4% from prior period.

Median price per square foot has moved -8.3% year-over-year.

Pending-to-active ratio — Cooling.