Austin’s Luxury Market Is Regaining Speed

Last year, Austin’s luxury market was among the slowest in the country. Now it’s enjoying one of the season’s swiftest turnarounds.

Austin slowed to a crawl by the end of 2025, with the luxury sector ranking first in Texas and the overall housing market ranking first nationwide for highest days on market. Spring data suggests that Austin is now attracting motivated buyers and purging stubborn sellers, resulting in one of the country’s broadest year-over-year jumps in days on market.

Austin luxury homes went under contract after a median of 57 days on market this spring, 16 days faster than last year, according to Redfin. Out of the top metros in America, only Pittsburgh posted a greater year-over-year decrease in median days on market, beating Austin by one day with a 17-day drop to a median of 64.

Even accounting for seasonal trends, that’s a stark shift from last year, when the typical Austin home went under contract in 106 days in December, making the former tech boomtown the slowest housing market of the 50 biggest metropolitan areas in the country, according to Redfin. Luxury wasn’t moving much faster: In October, Austin homes in the top 5 percent of the market went under contract in a median of 104 days — the longest period in Texas and the fourth-longest nationwide.

Spring’s momentum is carrying through the summer, according to Austin luxury agent Michael Reisor.

“This is the time where, typically [for homes] above $2 million, we start to see things slow down a bit for the summer, but we’ve actually seen a spike in activity for properties that are both new to market and have been on the market for, you know, a little spate,” Reisor said.

Pending sales, closed sales and listings all decreased with median days on market in the spring, according to Redfin, suggesting that the marketplace is pruning away sellers with outdated expectations of their home values.

“I’ve noticed sellers at all price tiers being realistic,” Reisor said.

Accordingly, a rise in cash transactions and quick closings might be attributed to the relatively low supply of sellers who come to market with “move-in ready homes,” Reisor said.

“In that $2 million, $3 million-plus price point, we don’t have a lot of selection when we talk about Austin’s most sought-after neighborhoods. Buyers are coming with their best foot forward, and oftentimes that’s cash,” Reisor said.

In addition, the hot streak of the pandemic may also be tightening supply three years down the line. Buyers who fought tooth and nail for a luxury home in 2022 are less likely to consider selling, Reisor said.

“We don’t have, in the luxury space, a rush of people to sell,” Reisor said. “The inventory is coming in the lower end of the market.”