Blog > February Austin Real Estate Market Update
Welcome to our latest market update for the Austin real estate market! As a team of experienced real estate professionals, we’re dedicated to keeping you up-to-date on the latest trends and developments in the local market.
Total active listings have remained relatively stable over the past few weeks, due in part to the fact that the market is quickly absorbing most of the available inventory. However, overall inventory levels are still decreasing. Towards the end of last month, we saw fewer failed listings in the market. The recent ice storm briefly caused an increase in weeks of inventory, but we’re still seeing just under 10 weeks of inventory.
For sellers, the tight supply of homes means that now could be a great time to list your property. With inventory levels decreasing, you’re in a strong position to sell. Our pricing strategy has been successful in generating higher prices for our clients, with our new program resulting in over 7% more than what the average Austin agent is getting for their clients.
For buyers, it’s important to act quickly despite interest rates, because prices have decreased by 15% overall and up to 20% in some submarkets. This is likely the bottom of the market. We predict that in a few weeks, the median price graph will start to climb again.
As always, our team is here to provide you with the expert guidance you need to make informed decisions in this challenging market. Be sure to follow us on Youtube for weekly market updates.
P: 512-308-3244