In November, home prices fell slightly from the month before, with a median listing price of $574,000.<\/p>\n
The number of listings on the market shrank 10.3% from last month, which is typical for this time of the year in Austin, and homes are also selling close to the same pace as the same time last year.<\/p>\n
Home prices in Austin<\/p>\n
Typically, home price per square foot in Austin tend to rise in November. But the most recent data shows that the price per square foot decreased by 0.7% compared with the month before.<\/p>\n
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the Live Music Capital of the World are smaller the national market.<\/p>\n
Austin inventory<\/p>\n
In November, there were 4,069 homes for sale in Austin, which was 10.3% less than the month before and 3.6% more than the same time last year.<\/p>\n
Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266.<\/p>\n
Time on market<\/p>\n
Homes in Austin take an average of 79 days to sell, according to November figures.<\/p>\n
This is the same as the previous month and one day more than the same month last year.<\/p>\n
For comparison, nationally homes spent an average of 64 days on the market in November.<\/p>\n