"Austin's median list price fell to $572,450 in March, down 8.4% year-over-year - more than four times the national decline of 2.1%. This indicates a significant shift in the market dynamics."
"Fewer sellers chose to list, which kept total supply from growing further. The available homes held flat year-over-year at 3,691 active listings in March, even as new listings dropped 9.9% compared to last year."
"Sellers felt the slowdown in March: the typical Austin home sat on the market for 47 days, up 8.1% from a year ago. This extra time allows buyers more room for due diligence and negotiation."
In March, Austin's real estate market experienced an 8.4% year-over-year price drop, with homes taking longer to sell. Active listings remained steady at 3,691, despite a 9.9% decrease in new listings. The median list price fell to $572,450, significantly higher than the national median. Over 20% of listings had price reductions, indicating buyers can negotiate. Homes typically sold in 47 days, which is faster than the national average, suggesting ongoing demand despite the slowdown in the market.
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