How much is my Austin home worth?

Your home in Austin is likely worth less than it was previously, as the median listing price is $473,500. This price is down almost 10% from last year. The average listing price is higher at $726,864, also reflecting a drop from last year. This trend suggests a cooling market. Looking at the bigger picture, many homes are staying on the market longer. Homes are now listed for 63 days, which is almost 9% longer than last year. Additionally, over a quarter of homes, 27.6%, have had their prices reduced, which is 5% fewer price reductions than last year, but still significant. Even though prices are lower and homes are sitting longer, there are still fewer homes for sale than last year. Active listings are down 5% to 12,456 homes. There are only slightly more new homes coming on the market, up just 0.3% over last year. Given the current market, it's important to price your home very competitively to attract buyers. Your real estate agent should help you set a realistic price based on homes that have recently sold in your specific neighborhood rather than relying solely on the general market trends for the entire Austin area.