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Austin-area homes are selling for the most above asking price compared to the rest of the U.S.

Redfin looked at 47 metro areas across the country and found Austin’s selling prices are the biggest premium in the country.

AUSTIN, Texas — The housing market in Austin is just getting hotter.

A new report from Redfin, a Seattle-based real estate brokerage firm, found the average home in our area sold for 7.1% above the listing price in the month before March 14, which represents the largest year-over-year gain compared to all other metro areas in the country. In 2020, the average home in our area sold for 0.9% below asking price.

“Austin has had one of the hottest housing markets of the pandemic era,” Redfin reported.

The analysis found that a median-priced $400,000 Austin-area home sold for about $28,000 more in the month before March 14.

According to Redfin, the typical home has sold in 30 days, which is 12 days faster than the year before.

Other cities where homes are going for above asking price include San Jose, Seattle and San Francisco.

The best places to buy a home below asking price are Miami, New Orleans, Pittsburgh or Orlando, according to Redfin.

An earlier Redfin report found that local buyers have an average budget of $644,771, but out-of-towners are coming with more money to spend, an average budget of $852,276 to buy a home. 

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