In June, home prices fell substantially from the month before, with a median listing price of $617,500.
The number of listings on the market grew 5.0%, which is a smaller increase than normal for this time of the year in Austin, and homes are also selling slower than at the same time last year.
Home prices in Austin
Typically, home price per square foot in Austin tend to rise in June. But the most recent data shows that the price per square foot decreased by 3.3% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.4%, which means price changes in the Live Music Capital of the World are lagging behind the national market.
Austin inventory
In June, there were 5,538 homes for sale in Austin, which was 5.0% more than the month before and 19.3% more than the same time last year.
Meanwhile, active inventory across the nation rose by 4.5% from last month to 1,082,520.
The number of new listings in Austin was 1,630, which was 11.6% less than the month before and 5.6% more than the same time last year.
Nationally, the number of new listings fell by 2.7% from last month to 452,414.
Time on market
Homes in Austin take an average of 57 days to sell, according to June figures.
This is 11 days more than the previous month and six days more than the same month last year.
For comparison, nationally homes spent an average of 53 days on the market in June.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in Austin, TX.