Is Austin a seller's market right now?

Yes, Austin is currently a seller's market. The number of homes for sale is down from last year, and homes are still selling despite prices coming down slightly. The median listing price in Austin is $475,000. While this is the same as last month, it's nearly 10% less than a year ago. The average listing price also dropped by 8.5% over the last year to $737,300, and the price per square foot is down to $240. There are 11,974 homes actively for sale, a decrease of 4.4% from last year. We're also seeing fewer new homes coming onto the market, down 13.2% from last year with 4,084 new listings. These drops mean buyers have fewer choices. Homes are taking a bit longer to sell, spending 56 days on the market, which is about 22% more than last year. Also, about 27% of homes have had their prices reduced, roughly the same as last year. Even with prices dropping and homes taking longer to sell, the supply of homes is lower than last year. This dynamic gives sellers a bit of an edge right now, as there are fewer options for buyers to choose from. If you're selling, pricing your home well and being ready for it to be on the market for a couple of months could benefit you.