Last week, a $3.25 million listing sold in Austin after being on the market for just three days. In any market around the country, this would be considered snappy – however, it’s especially fast for Austin as one of the country’s growing luxury markets.
Austin’s market overall has tilted to become a buyer’s market, highlighting the pendulum swing between buyers and sellers markets across the country. During the pandemic, low interest rates and remote workers caused a boom in Austin’s market which has since slowed with the rest of the country, making it one of the slowest in the country where luxury homes in Austin have spent a median of 90 days on the market in September, according to Redfin.
Strongest buyer’s market in the country?
The national housing market was described as “balanced” by Realtor.com’s monthly housing trends report in August 2025, meaning there is a supply of about 4 to 6 months. This descriptor may come as a surprise to many navigating the housing market, as the disparities between regions of the country have always been considerable. Austin is one of seven major cities whose housing markets favor buyers and is by far the strongest buyer’s market in the country, with over double the amount of home buyers than sellers in the city alone in September 2025. Other cities favoring buyers are Miami, Orlando, New York City, Jacksonville, Tampa and Riverside, California.
This tilting effect towards buyers is mostly isolated to the southern United States. In the northeast and midwest, markets are still tilting towards sellers, according to Redfin. The metro areas posting the largest year-over-year median price increases include Trenton, New Jersey, Lansing-East-Lansing, Michigan and Nassau County-Suffolk County, New York.
Affordable Austin
The market may be tilting towards buyers in many southern cities, but it still feels out of reach for many. As of September 2025, the median sales price for the Austin metro area as a whole was $420,000, whereas the median sales price for Austin itself was $550,000. The national median home price for an existing home was $398,400 as of February 2025, according to data from the National Association of Realtors.
Though Austin’s home prices are above the national benchmark, the city is one of the most affordable in the United States. It was ranked the fifth most affordable city based on its relative cost of living and high median household income by Motley Fool Money in May 2025. This means that there is high demand for homes and low supply, driving up the cost of living largely as a result of the city’s growing tech industry.
A tech-saturated luxury market
The rapid influx of tech giants into Austin prompted quick expansion and a surge of new residents during the pandemic. The luxury market experienced this expansion as well, but is cooling just as the rest of the market levels out. Million-dollar listings are down year-by-year by 1.7%, slower than the national pace of about a 17% increase according to Realtor.com. Luxury homes are also moving slower in Austin, with the median number of days on the market increasing by 4.4% year over year.
Austin’s luxury market remains elevated, but is showing signs of cooling with increasing leverage for buyers. Sellers who once relied on scarcity to drive the market must now compete on quality and realistic pricing if they want to compete.
The region’s pull for tech executives, entrepreneurs and high-net-worth individuals remains strong, and Austin’s lifestyle continues to appeal to domestic and international interest. It’s likely that off-market deals will become the norm and homes that marry privacy and proximity to Austin’s cultural and economic centers will define the city’s high-end market in the future.
