Austin is where live-music venues share blocks with tech campuses, and East Austin bungalows sit a short drive from Westlake lakefront estates. It’s a city that has long attracted people chasing both opportunity and a good meal — and a real estate market that reflects every bit of that ambition.

If you’re buying in Austin right now, March data handed you real leverage: prices fell 8.4% year-over-year, homes sat on the market longer, and more than one in five listings carried a price cut. Sellers who priced right still moved homes faster than the national average — but overpricing was punished.

Austin’s available homes held flat year-over-year at 3,691 active listings in March — even as new listings dropped 9.9% compared to last year. Fewer sellers chose to list, which kept total supply from growing further. If you’re shopping now, your pool of available homes stayed consistent with last year, but fresh options arrived more slowly.

Austin’s median list price fell to $572,450 in March, down 8.4% year-over-year — more than four times the national decline of 2.1%. Austin still costs well above the U.S. median of $416,000, so this market isn’t cheap. But 20.6% of listings carried a price reduction last month, well above the national rate of 16.3% — meaning buyers have real room to negotiate, especially on homes already marked down.

Sellers felt the slowdown in March: the typical Austin home sat on the market for 47 days, up 8.1% from a year ago. That’s still about 10 days faster than the national median of 57 days — so demand didn’t disappear. For buyers, that extra time means more room for due diligence and negotiation. For sellers, it’s a clear signal that overpricing stalls deals.

Austin’s March data shows a market still finding its footing after years of runaway growth. Prices fell sharply, homes lingered longer, and price cuts were common — all conditions that favor prepared buyers. If you’re buying now, lean into listings that have already been reduced and use longer market times to negotiate repairs and terms. If you’re selling, the data is direct: homes priced correctly still sold in a market that moved faster than most of the country. Price aggressively from day one, or risk sitting and settling for less.

This market report has been generated with AI tools, with input from Realtor.com Economic Data Manager Sabrina Speianu

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