Are buyers active in Austin?

There is some buyer activity in Austin, with nearly 3,500 homes currently under contract. This means a good number of buyers are actively making offers and moving forward with purchases right now. The pending ratio also shows a steady pace of homes going off the market. Buyers have many options to choose from, with over 12,500 active listings available. The number of new homes coming onto the market is also slightly up over the past year, giving buyers fresh choices. Prices have seen some adjustments, which can be good news for buyers. The median listing price is $450,000, which is nearly 10% lower than it was a year ago. The average price per square foot has also dropped. Homes are staying on the market a bit longer, with the median home taking 73 days to find a buyer. Also, about 28% of homes have had their prices reduced, suggesting sellers are willing to negotiate. For buyers, this could mean more choices and a chance to find a home at a better price, potentially with more room to negotiate.

Really, buyers are taking their time in Austin right now. The market isn't moving as quickly as it once was, giving buyers more room to make decisions. Fewer homes are going under contract compared to the total number available. The median listing price is $450,000. This price has dropped almost 10% over the past year, and it went down a bit last month too. This means homes are becoming more affordable for buyers. There are 12,517 homes actively for sale, which is about the same as a year ago. New homes coming onto the market also increased slightly. This consistent number of homes means buyers have options, and there isn't a rush to buy quickly. Houses are staying on the market for an average of 73 days before going under contract. This is a bit longer than last year, showing that buyers aren't feeling the pressure to make quick offers. Also, 27.6% of homes have had their prices lowered, suggesting sellers are adjusting expectations to attract buyers. With more choices and homes sitting longer, buyers have a good chance to find a home that fits their budget and needs.