Austin's data validates the frenzy that real estate professionals have been feeling in the Lone Star State, as home prices in Hippie Haven are up almost 40% since last year.

Nationally, listings are up and small home prices are down, KVUE reports. The U.S. median listing price was $385,000, but the median listing price in the Austin-Round Rock area is $536,000. 

Nasdaq reports when there are more potential home buyers than properties for sale combined with the current sales rate, it would take five weeks to sell every home on the market in Austin.

“The [buying frenzy] has cooled a bit, but even by those standards we are hot, not quite hot," Austin Realtor Jeannete Spinelli said, reported by Twitter. 

Texas Monthly reported in June that an Austin-based Luxury Real Estate Agent Wade Giles said that some of his clients in Los Angeles and San Francisco have decided to opt out of moving to Austin because they no longer consider it affordable.

“The sellers have all the power right now and the buyers have no choice but to play their game,” Ian Grossman, an Austin realtor and TikTok influencer said, per Texas Monthly. "Because of the competition, many prospective buyers forgo an inspection and waive provisions allowing them to back out of a contract if the appraisal is low."

As the Austin housing market continues to stay hot, one thing is for certain: prospective buyers need to bring their A-game in a seller's market.