Austin Luxury Asking Prices Slide

In Early-Q3, Austin posted the country's steepest luxury asking-price reset: the local entry threshold slipped ~10% yearly to ~$1.26M, well beyond the national decline.
Austin's $1M-plus listings also fell ~18% yearly, while its high-end luxury tier dropped ~10% and ultraluxury tier eased ~5%, showing broad-based price adjustments.
Homes at Austin's luxury level spent a median 78 days on market, 2 days longer yearly, as pandemic-era price surges continued settling back.
On the ground, Austin agents saw more seller flexibility at $2M-plus, while much of the $5M-plus segment traded off-market and prime neighborhoods still drew offers.
One Austin listing at ~$1.25M saw interest improve after a $49K cut, underscoring how calibrated pricing can help luxury homes gain traction.