Posted by Realty Austin on Thursday, August 19th, 2021 11:40am.
If you’ve been following the Austin housing market for the last year, you’ve probably heard about the city’s drastic home price increases and low inventory that resulted in hundreds of buyers bidding on the same home. That tone is beginning to change as less competition and fewer multiple offers indicate market stabilization is on its way to the Live Music City Capital of the World.
According to the Austin Board of Realtors, residential home sales in the Austin MSA declined 9.9% to 4,041, the median sales price jumped 37.1% year over year to $480,000, and sales dollar volume increased 20.7% year over year to $2,409,491,114.
If you’re a buyer, now is the time to take advantage of the slower pace the last few weeks of Summer brings. Check out our current listings to view homes in your desired neighborhood.
If you’re a seller, this slight dip does not signify a permanent cooldown—now is still the ideal time to put your home on the market. Use our estimator tool to see what your home is worth.
The average home is only on the market for 12 days, according to ABoR. Whether you are buying or selling, you’ll need an experienced agent by your side to help you navigate this competitive market.