Austin, Texas Market Update | September 2023

Our Team is currently here at the BuiltHOW event in Phoenix, Arizona, where we're gaining valuable insights into the real estate market.

Here's what we've observed about the Austin real estate market: 

- Sales have decreased by approximately 20%.

- Prices have decreased by approximately 7%.

- The average number of days a property stays on the market has increased significantly, up by over 100%.

An important point to consider is the current inventory situation. Compared to this time last year, we've seen a notable reduction in available homes for sale. Last year, there were 6,600 homes on the market, and now we're down to 4,200 homes. This means that competition is getting stiffer. For prospective buyers, if you come across the right home, it's advisable to act promptly, as inventory is on the decline. On the flip side, sellers may not encounter as many competitors.

If you have any questions about whether now is the right time for you to enter or exit the market, don't hesitate to reach out to us at 512-261-1000 or visit AustinTexasRealEstate.com. We're here to provide the guidance you need.

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BuiltHOW is an event focused on business, leadership, technology, and wealth building. Hosted by industry experts Ben Kinney, Debbie De Grote, and Chris Suarez, the BuiltHOW Live in Phoenix, AZ, takes place at the Phoenix Convention Center on September 12th - 14th, 2023.