"The number of active listings in Austin soared by 7.9% year-over-year in December, with a total of 3,404 homes gracing the market. This increase, though below the national trend of a 12.1% rise, offered a significant boost in options for eager buyers. Moreover, with 552 newly listed homes, there was a 4.5% uptick compared to the previous year, starkly contrasting with a national decline of 1.8% in new listings, giving buyers in Austin a unique advantage."
"Austin's median listing price in December was $550,000, reflecting an enticing 8.2% decrease from the previous year. This decline was more significant than the national trend, where median listing prices saw only a modest 0.6% dip. The share of price reductions in Austin was 17.2%, slightly lower than the previous year, suggesting a subtle yet promising decrease of 0.3 percentage points, while the national average for price reductions experienced a slight increase."
"Homes in Austin lingered on the market for an average of 87 days in December, a 3.0% increase from the previous year. This duration was longer compared to the national average, where homes typically remained for 73 days, reflecting a 5.0% increase year-over-year. While this extended time might have challenged sellers, it provided buyers with the luxury of time to make more informed decisions and explore various options."
Active listings in Austin rose 7.9% year-over-year to 3,404 homes in December, with 552 newly listed properties representing a 4.5% increase from the previous year. The increase in Austin's inventory trailed the national rise of 12.1% but contrasted with a national decline of 1.8% in new listings. Median listing price was $550,000 in December, down 8.2% year-over-year, a larger drop than the national 0.6% decrease. The share of price reductions in Austin was 17.2%, a 0.3 percentage-point decline from the prior year. Homes averaged 87 days on market in Austin, up 3.0% year-over-year and longer than the national average of 73 days, offering buyers more time while challenging sellers.
Read at SFGATE
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