Austin, TX

The ZIP code is currently experiencing a cooling phase, characterized by a slight increase in median listing price alongside a reduction in active inventory and a stable pending ratio. While properties are moving faster than over the past year, price reductions indicate a recalibrating market.

The median listing price has shown a modest 0.2% month-over-month increase, contributing to an 8.6% rise over the past year. Active listings have decreased by 15.3% year-over-year, settling at 239 units, while new listings remain unchanged from the previous year. Properties are spending less time on the market, with median days on market at 76, a 5.0% reduction year-over-year. The share of listings with price reductions stands at 24.9%, a 4.9% decrease from the past year. The pending ratio is 0.28, reflecting a slight year-over-year decline of 1.7%. Median price per square foot registered a 1.4% increase over the past year.

With a pending ratio of 0.28 and a decrease in active listings year-over-year, inventory pressure has eased slightly. The reduction in median days on market suggests a moderately active pace of transactions, yet the notable share of price reductions indicates that price discipline is gaining importance in securing offers.

The significant spread between the median listing price of $999,000 and the average listing price of $1,449,625, combined with median price per square foot at $302, indicates a robust upper echelon within the market. The average listing price increased by 2.3% over the past year, suggesting sustained value in the higher price tiers.