Should I buy new construction or resale in Austin?

The latest data doesn't specifically show pricing for new construction versus resale homes in Austin. However, we can look at the overall market trends to get a sense of the current situation for all homes. The median listing price in Austin right now is $473,500. This price has dipped slightly over the last month by 0.3% and is down more significantly from last year, dropping by 9.8%. Homes are staying on the market longer, with a median of 63 days, which is almost 9% more than last year. There are also slightly fewer homes for sale compared to last year, with active listings down by 5%. About 27.6% of homes have lowered their prices, which is a bit less than last year. The average price per square foot is $237, an 8.2% drop from last year. As a buyer, these trends suggest that prices have been coming down and homes are taking a bit longer to sell. This could mean you have more room to negotiate.

The latest data shows some good signs for homebuyers in the Austin area. You have more to choose from than last year, though prices are down a bit from last year. This could mean some savings if you're looking to buy.When you compare the median listing price, homes are going for $473,500. This is nearly 10% lower than the same time last year, which is a significant drop. New listings haven't changed much from last year, with 3,926 available.The average listing price is also down, sitting at $726,864, about 8.3% lower than last year. The price per square foot is $237, which is also down by 8.2% over the year. This consistent decrease across different pricing metrics could suggest more negotiating power for buyers.Homes are staying on the market longer, too, now at 63 days, which is almost 9% longer than last year. Also, about 27.6% of homes have had a price reduction, which shows sellers might be more willing to negotiate.For you as a buyer, these numbers suggest that there are more options and potentially better deals to be found right now compared to last year. Take your time to compare new construction with existing homes to find the best fit and value.