Market Trends & Data

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Have most buyers left Austin Market? Are they gone for good?

Posted Jun 29 2022, 19:52

Has anyone in the Austin market noticed a complete pause in the market the last 2.5 weeks? Context: My wife and I listed our primary for sale mid-june. As objectively as possible, if we had listed it 4 weeks prior, we'd have had 30 showings and multiple offers. It is priced well under the most recently closed comparables in neighborhood.

We have only had a handful of showings and no offers 12 days into listing. Obvious that there has been a significant shift in this market, at least at this price point ($600K-$700K) but do you local folks think this market will bounce back? We are considering putting a renter in the home in hopes for a stronger market next spring...after every media hub stops printing the same one study about Austin being overvalued. 

Looking for any anecdotal input here, am I crazy or has this shift hit Austin harder than anywhere? Do we just need to be more patient? Thanks for any input!

Austin, Texas

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