Austin selling for more over asking price than any major US city

[Neil Narayan]

The Austin housing market is one of the hottest in the country, and according to a report from online real estate brokerage Redfin, homes are selling for the highest premium out of 47 metro areas it analyzed in the past month.

According to the report, homes are selling for 7% over asking price. An average Austin home listed at $400,000 sold for $428,000 from Feb. 14 to March 14. A year ago, homes in Austin were selling nearly 1% below asking price, the report says.

It’s the largest year-over-year gain in any metro area Redfin looked at.

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