"Austin's median list price dropped to $578,500 in April, an 11.0% decline from a year ago, far steeper than the national dip of just 1.4%."
"Active listings fell 9.3% year-over-year to 4,176 homes in April, bucking a national trend where inventory actually grew 4.6%."
"Sellers largely sat out rather than test a softer market - which means buyers faced less competition on price but fewer homes to choose from."
"The share of listings with a price cut actually fell, down nearly 5 percentage points year-over-year, indicating sellers are starting with more realistic prices."
Austin's real estate market experienced an 11% price drop year-over-year, with active listings decreasing by 9.3% to 4,176 homes. New listings fell by 20.9%, contrasting with a national inventory increase. Despite lower prices, buyers face fewer options as sellers are more strategic with pricing. The median list price in April was $578,500, significantly higher than the national median. Homes took longer to sell, averaging 46 days, but the market remains competitive with less room for negotiation on prices.
Read at SFGATE
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