Austin Housing Market Sees Price Adjustments and Increased Inventory

The Austin real estate market is currently undergoing significant changes, marked by a decrease in home prices and an increase in housing inventory. As of June 2024, the median sales price for homes in Austin has dropped by 6.3% year-over-year to $450,000. The increase in active listings, now up by 25.9% to 13,227, suggests a growing inventory that is providing buyers with more options and potentially more negotiating power. Additionally, the market has seen a slight increase in the average days homes stay on the market, now at 65 days, reflecting a more competitive environment for sellers. These trends indicate a move away from the intense seller’s market of previous years, moving towards a more balanced real estate landscape

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