"Austin's supply kept building last month - active listings reached 3,183 homes in February, up 5.3% year-over-year, while new listings jumped 7.2%. Supply was outpacing demand, giving buyers more choices and less pressure to rush."
"The median listing price fell to $552,500 in February - a steep 9.0% drop from a year ago, far outpacing the national decline of just 2.1%. Nearly one in five listings carried a price reduction."
"The median home sat on the market for 70 days in February, up 8.6% year-over-year. Buyers now have room to deliberate, inspect thoroughly, and negotiate terms."
In February, Austin's real estate market showed significant changes favoring buyers. Active listings increased by 5.3% year-over-year, with new listings rising by 7.2%. The median listing price dropped to $552,500, a 9.0% decrease from the previous year. Homes remained on the market longer, averaging 70 days, an 8.6% increase year-over-year. Buyers now have more negotiating power, while sellers must be strategic with pricing and presentation to attract interest.
Read at SFGATE
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