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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Issac San Miguel
  • Lender
  • Austin Texas
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Issac San Miguel
  • Lender
  • Austin Texas
Replied Jun 29 2022, 19:57
Quote from @Nick Anderson:

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!


A colleague of mine just put a flip on the market which 30 days ago would have been sold already. I recently refi’d a house in 78717 which had been on the market for about 30 days. it is closing to get out of my note on july 8. 

I think sales are taking longer and buyers are responding according. it is slowly turning back into a more balanced market. good luck on the sale! if you decide to go rental you could likely pull some equity out with a dscr product. 

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Issac San Miguel
  • Lender
  • Austin Texas
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Issac San Miguel
  • Lender
  • Austin Texas
Replied Jun 29 2022, 19:59
Quote from @Issac San Miguel:
Quote from @Nick Anderson:

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!


A colleague of mine just put a flip on the market which 30 days ago would have been sold already. I recently refi’d a house in 78717 which had been on the market for about 30 days. it is closing to get out of my note on july 8. 

I think sales are taking longer and buyers are responding according. it is slowly turning back into a more balanced market. good luck on the sale! if you decide to go rental you could likely pull some equity out with a dscr product. 


sorry, meant to say that the refi was right in that price point. original list was $709k they are under contract  at $670k

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Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
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Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
Replied Jun 30 2022, 07:05

Listen to yourself, 2.5 weeks and no offer?? The sky is falling!!!

Yes, we have had super duper crazy times. Now, maybe not so much. Have you noticed rates have gone from about 3% to about 5.5 or 6%?? That will drastically change the mortgage payment. Even if the actual loan is only 300k, the payment is going to be over $500 more now. This is going to take some buyers out of the market or cause some to look at 50k to 100k lower priced houses.

Things are going to get back to more normal times, not like the last couple of years. It will reasonably take 1 month to 3 or 4 months to get a house sold. That is the bottom line. You might even have to give some concessions to the buyer. It is not that there are no buyers or all the buyers have left. Higher rates have caused people to react more rationally. The last couple of years were not rational at all!!! I have been in the real estate arena for over 30 years, trust me, the last couple of years were CRAZY.

I lived in Austin for over a year way back in another life. It is sooooo beautiful. The rivers, lakes, hill views, gigantic open areas, WOW. Breathtaking. And the people are great. People are going to still love Austin and all of Texas. It is just a part of life that things change. Dont worry, your house will sell. Just be a little patient.

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Ryan Kelly
  • Real Estate Broker
  • Austin, TX
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Ryan Kelly
  • Real Estate Broker
  • Austin, TX
Replied Jun 30 2022, 08:19

@Nick Anderson the Austin market has gone from 2,000 Active homes for sale in February to nearly 8,000 homes now in peak summer, so the slow down is predictable. Interest rates have climbed from 3.25% to nearly 6.5% at their peak which will obviously slow down buyers by a ton. The buyers and influx of jobs are still here, but many buyers have either been priced out in the short term OR are simply sitting on their hands to assess where the market will go next. To put it in perspective. We had approx 8,700 homes for sale in the summer of 2019, which is still more than we have now. We are transitioning out of the crazy low-interest rate fueled pandemic housing market back to a very normal balanced market. This is a good thing, but it will feel like the ice age for the next several months until buyers and sellers adjust to the new reality. Does your list price reflect past LIST prices or SOLD prices from the peak? If you are using sold comps, you are listed too high.

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Replied Jun 30 2022, 09:11

@Nick Anderson

"if we had listed it 4 weeks prior, we'd have had 30 showings and multiple offers"

How do you know that?

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Replied Jun 30 2022, 14:36

@Nicholas L.

3 comps of same sq footage and in same neighborhood same updates went under contract and closed within this time with multiple offers.

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Replied Jun 30 2022, 14:40

@Ryan Kelly

Thanks Ryan, I appreciate your insight and input here. My thought process is similar in that things will settle out and next spring will be more active again, but trying to figure out if it’s a better move to pull the home and rent it until next spring or further down the road.

We are listed 5% lower than 2 comps list price that were pending when deciding on where to price. Good hose comps just closed last week at their list price, so we are also 5% under their closing prices.

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Replied Jun 30 2022, 14:42

@Rick Pozos

Thanks for your input! I agree and understand that most markets 2.5 weeks is nothing. But in a market that has seen 90% of homes list on Thursday and contract that Sunday, for 3+ years, a change in this pace almost overnight is hard to adjust to!

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Ryan Kelly
  • Real Estate Broker
  • Austin, TX
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Ryan Kelly
  • Real Estate Broker
  • Austin, TX
Replied Jun 30 2022, 14:44

@Nick Anderson It's a tough call. It simply may take more time to sell now versus the past two years. Instead of 2 days, it may take 2 months. I wouldn't drastically drop your price but rather focus on improving the property if needed and having a Plan B. I do think demand has taken a drastic hit, but the question is for how long? The second half of the summer is traditionally slow because a lot of potential buyers tend to travel during this time. Higher interest rates will slow down this demand even more. It may take until the fall before we see what the new market looks like. 

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Bruce Woodruff#2 All Forums Contributor
  • Contractor
  • Arizona
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Bruce Woodruff#2 All Forums Contributor
  • Contractor
  • Arizona
Replied Jun 30 2022, 15:20

It's also about a general slowdown IMO. Nothing but talk of inflation, hyper-inflation, recession, etc.... all day every day. Now this may be true (or not) but it tends to put the brakes on a robust economy, Happens every time......

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Ryan Kelly
  • Real Estate Broker
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Ryan Kelly
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Replied Jun 30 2022, 19:22

@Bruce Woodruff it can be a self-fulfilling prophecy sometimes, that's for sure.

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Alex Talcott
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Alex Talcott
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Replied Jun 30 2022, 19:53

I invested as an LP 2.5 years ago, asset still held, and I haven't had anything worthwhile (underwritten returns) passive come to my attention since.

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Carlos Gonzalez
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Carlos Gonzalez
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Replied Jun 30 2022, 21:45

@Nick Anderson interest rates man

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Victor S.
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Victor S.
  • Oklahoma City, OK
Replied Jul 1 2022, 11:23
are you getting any showings/feedback on the house? make sure your realtor is actually earning his/her keep on this one. easy money is done for.

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Eliott Elias
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Eliott Elias
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Replied Jul 4 2022, 11:27

We've trained sellers to believe their homes will receive multiple offers sell all in a weekend for a few years now. I think a shift of mindset is crucial. It's still a sellers market