Is now a good time to sell my home in Austin?

Now might not be the best time to sell your home in Austin. Home prices are down quite a bit from last year, and homes are taking longer to sell. The median listing price in Austin is $475,000, which hasn't changed in the last month but is 9.5% lower than it was last year. Sellers are also lowering their prices less often than last year, which could mean they are holding firm on their current prices. Buyers have more options right now. Even though there are fewer homes for sale compared to last year (a 4.4% drop in active listings), new listings are down even more significantly (13.2% year-over-year). Homes are sitting on the market longer in Austin. The median time a house is listed is 56 days, which is 21.7% longer than last year. Over a quarter of homes, 26.8%, had a price reduction, though this is slightly less common than last year. This means almost all homes are selling for something close to their listed price. With prices lower and homes taking longer to sell, you might consider waiting if you can. If you need to sell now, be prepared for a longer selling process and be realistic about your asking price.