Time on Market Tells the Story
A look at downtown Austin condo activity over the past three months reveals clear pricing patterns. All figures reflect medians.
- Active listings: 104 days on market at $809/SF -- units generally priced above buyer comfort levels
- Failed listings: 125 days on market at $837/SF -- pricing misses result in extended DOM and many unsold units
- Closed sales: 83 days on market at $670/SF -- strongest performers sold at or above list in just 41 days
The spread between failed and successful sales shows that pricing is not just about time -- it determines whether a unit sells at all.
Chart: Downtown Austin Condo Market median data over the last 3 months, showing active and failed-to-sell pricing compared to pending and closed pricing.
Price Positioning and Negotiating Power
- At or above list: 8 sales at $670/SF, closing at 100% of original list price
- Below list: 60 sales at $668/SF, averaging 95.5% of contract/list price and 91% of contract/original list price
Well-positioned listings retain leverage. Overpriced units lose momentum and negotiating power over time.
Pending Sales as a Signal
- Pending listings: 129 days on market at $680/SF
This suggests continued demand in the $600-700/SF range. Buyers are moving cautiously and avoiding overpriced units.
What It Means for Sellers and Buyers
For sellers: Competitive pricing predicts shorter timelines and better outcomes. Overpricing risks more than just extended days on market -- it risks not selling at all.
For buyers: The best-positioned condos sell within 40 days. When there is clear value, decisions accelerate. Low offers on overpriced or stale listings are worth considering.
Each downtown building has distinct median pricing and dynamics. This analysis covers downtown collectively. Building-specific insights are available upon request.