Are buyers active in Austin?

It looks like buyers in Austin are showing some interest, but they are taking their time. The number of homes going under contract has increased a bit compared to last year. However, a significant portion of homes are still seeing price drops. This suggests that while buyers are out there, they're also being careful about their offers. The number of homes for sale right now is nearly 12,000. That's a slight dip of 4.4% compared to a year ago, meaning there are fewer choices for buyers than there used to be. For sellers, that could mean a bit less competition, but new listings are down even more, by 13.3%, so fewer new homes are coming onto the market. Homes in Austin are sitting on the market for 56 days, which is about 10 days longer than last year. This means homes are taking more time to sell. Also, nearly 27% of homes have had their prices cut, a little less than last year, but still a notable amount. This could mean sellers are adjusting their expectations to meet buyer demand. Prices are down compared to last year. The typical listing price is $475,000, which is 9.5% lower than a year ago. The average price per square foot is also down by 8.3%, to $240. This suggests that overall, homes are becoming more affordable for buyers. If you're a buyer in Austin, you might find some good opportunities with more time to decide and potentially better prices than last year. For sellers, it's important to price your home competitively to attract buyers in this market.