This is a good comparison between the four different price quartiles. Price per foot is one of the most common ways to assign value to a home, but not the only thing you should compare when it comes to buying or selling. The price of a certain property depends on many factors, price fer foot is one of them.
Austin continues to be a strong market for both buyers and sellers. A neutral market is when available inventory is at 6.5 months, meaning it would take 6.5 months at the current pace of sales to sell all of the homes on the market if no new ones were added. Austin currently only has 5.5 months of available inventory, which is another indicator of a lack of inventory. This shortage of inventory will eventually turn the market from nuetral to a sellers market where demand outpaces supply. Prices/Price per foot at this point will begin to go up.
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