Austin, TX housing market

A quarter of Austin home listings have cut their price, and values are down roughly 3 percent in a year. If you own a home here and have wondered about selling, that shift changes how you need to play this market. The typical Austin home is now worth about five hundred sixty-one thousand dollars, down just under 3 percent from a year ago. There are about four thousand eight hundred homes for sale right now, and the typical listing sits on the market for 67 days, more than two months before it finds a buyer. Here is where the story sharpens. The median asking price is nearly five hundred seventy-seven thousand dollars, well above what homes are actually worth. Sellers are still pricing for last year's market, and buyers are answering back: just over a quarter of active listings have already taken a price cut. So what does that mean for you? The homes that sell in Austin right now are the ones priced right from day one. Price at or just under true market value and you can still find a buyer in about two months. Aim high, and you will likely sit, then cut, usually from a weaker position. To see what your home would realistically sell for today, get a free home value estimate at Home Value Pros dot com.