Realtor.com reports, "In September, home prices remained unchanged from the month before, with a median listing price of $629,000.
The number of listings on the market shrank 5%, which is a bigger decrease than normal for this time of the year in Austin, and homes are also selling slower than at the same time last year.
Home prices in Austin
Typically, home prices in Austin tend to fall in September. But the most recent data shows that the price per square foot increased by 0.6% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.4%, which means price changes in the Live Music Capital of the World are outpacing the national market.
Austin inventory
In September, there were 4,503 homes for sale in Austin, which was 5% less than the month before and 21% more than the same time last year.
Meanwhile, active inventory across the nation rose by 3% from last month to 940,980.
The number of new listings in Austin was 1,212, which was 14% more than the month before and 2% more than the same time last year.
Nationally, the number of new listings rose by 4% from last month to 399,750.
Time on market
Homes in Austin take an average of 75 days to sell, according to September figures, which is slower than usual for this time of the year.
This is six days more than the previous month and 17 days more than the same month last year.
For comparison, nationally homes spent an average of 55 days on the market in September."
Source: Realtor.com
Written by: Realtor.com
Published: October 9, 2024
Posted by Grossman & Jones Group on
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