Top Real Estate Agents in Austin, Texas

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2023 Austin, Texas Housing Market Summary

Austin, Texas started 2023 with a total of 1,712 single-family homes on the market, with a median home price of $675,000 and an average price per square foot of $446. By the end of the year, inventory had increased to 2,117 homes on the market (+23%), with a median home price of $735,000 (+8%) and an average price per square foot of $457 (+2%).

At the start of 2023, the median days on market (DOM) was 84 days – by the end of the year, median DOM had remained the same at 84 days.

Austin started the year with 60% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 53% of Austin homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Austin started 2023 as a seller’s market, with an MAI score of 44; by the end of the year, the MAI had dropped to 39 – a slight seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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