How is the Austin housing market doing?

Really, it's a mixed bag for the Austin housing market right now. While prices are down compared to last year, the number of homes available hasn't changed much. Homes are also taking a bit longer to sell. The median listing price for a home is $450,000. This is a noticeable drop of almost 10% compared to this time last year, and it's also down about 2.6% from the prior month. The median price per square foot has also decreased by 8.1% over the past year, sitting at $231. There are 12,517 active listings, which means there are about the same number of homes for sale as there were last year. However, fewer homes are entering the market as new listings, with 2,932 homes added, a small increase of 1.2% year-over-year. Homes are staying on the market for an average of 73 days before going under contract. This is slightly longer than a year ago, when homes sold a little faster. Also, about 27.6% of homes have had their prices reduced. If you're looking to buy, current conditions might offer more negotiating power. If you're selling, be prepared for more competition and potentially longer wait times before finding a buyer.

Really, it's a bit of a mixed bag right now in Austin. We're seeing prices cool down, but the number of homes available hasn't changed much. More than a quarter of homes are also seeing price reductions. The median listing price for a home in the Austin area is $450,000. That’s a drop of 9.8% compared to a year ago. The average listing price is $704,101, down 6.5% from last year, and the median price per square foot is $231, which is 8.1% lower than a year ago. These numbers suggest homes are listed for less than they were previously. Homes are staying on the market longer too. The typical home is listed for 73 days before going under contract. That's just a tiny bit longer, 1.4%, than what we saw last year. More homes are also being listed with a price reduction—27.6% of them. While prices are down, the number of homes for sale, called active listings, is still around 12,517. That's about the same as last year, showing there isn't a big jump in available houses. We're also seeing a similar number of new listings come onto the market compared to a year ago. For buyers, these trends mean you might have a bit more time to make a decision and potentially find a home at a lower price than you would have a year ago. Sellers should be aware that it might take a bit longer to find a buyer, and adjusting prices might be necessary.

There are some signs of cooling in the Austin housing market right now. Home prices have seen a noticeable decrease over the past year. The median listing price for a home is $450,000. This is down nearly 10% from a year ago, and it has also decreased by 2.6% in the most recent month. More than a quarter of homes, 27.6%, had their prices reduced recently. This suggests sellers are adjusting their expectations to meet what buyers are willing to pay. While prices are down, the number of homes available hasn't changed much, with 12,517 active listings, about the same as last year. New listings also held steady at 2,932. Homes are also staying on the market a little longer, with a median of 73 days until they find a buyer. This is slightly up from a year ago, meaning homes aren't selling as quickly. If you're looking to buy in Austin, you might find more options and potentially better deals than a year ago. If you're selling, be prepared for more competition and longer selling times.