Are home prices going up or down in Austin?

Home prices in Austin are currently going down. The median listing price has dropped both in the most recent month and over the past year.

{ "answer": "Home prices in Austin are currently going down. Both the median listing price and the average listing price have decreased over the past year and in the most recent month.", "paragraphs": [ "The median listing price in Austin is \$450,000. This is 2.6% lower than the previous month and 9.8% lower than the same time last year. This tells us homes are being listed for less money now.", "Looking at the price per square foot also shows a decline. The median price per square foot is \$231, which is 8.1% lower than it was a year ago. This confirms that the overall value of homes is decreasing.", "There are 12,517 active listings, which is about the same as last year, and 2,932 new listings came on the market. Homes are staying on the market longer too, with a median of 73 days, slightly more than a year ago.", "Nearly 28% of homes for sale have had their prices reduced. While this is slightly less than last year, it still means many sellers are lowering their asking price to attract buyers.", "If you're thinking of buying in Austin, these numbers suggest you might find homes at lower prices than before. For sellers, it means being realistic about pricing your home to sell in the current market." ] }