Austin, TX 78704 Real Estate Market Report
ZIP Code: 78704
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Austin, TX are averaging 6.3%, which remains elevated compared to historical lows, limiting refinancing opportunities for property owners in this market.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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median sold price is not available in the provided metrics, which limits direct assessment of realized transaction values; the absence of a reported median sold price may indicate a thin or irregular sample of closed transactions in the analyzed dataset and should be verified with transaction-level MLS data or county records. data gap
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median listing price $899,000 combined with a median price per square foot $505 suggests sellers are positioning product at a relatively high per-unit valuation for the area; given the neutral market temperature, this may create pricing friction between seller expectations and recent transaction evidence.
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median days on market 212 points to materially slower sales velocity in the sample and, when considered with the sample's elevated inventory relative to sales activity, suggests increased negotiation leverage for buyers and longer listing exposure before sale.
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Market trends show price year-over-year trend: down and rent year-over-year trend: down while interest rate pressure: moderate (current 30-year fixed ~6.3% as provided), which together indicate cooling appreciation pressure, slowing rent growth, and continued refinancing headwinds for owners; investors should expect more cautious underwriting and stress-test deals for slower rent and price growth. neutral market balance
Notable Properties
The following 2 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Austin, TX 78704 Real Estate Market Report
ZIP Code: 78704
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Austin, TX are averaging 6.3%, which remains elevated compared to historical lows, limiting refinancing opportunities for property owners in this market.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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median sold price is not provided in the supplied metrics, which limits definitive statements about realized market value; this absence likely reflects a limited sold-sample in the analyzed dataset and means reported listing-based indicators should be treated as contextual rather than definitive. unavailable in dataset
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median listing price is 484,900 and the median price per square foot is 504, while the median days on market is 195, which together suggest pricing friction and slower sales velocity relative to a typical active market; sellers should expect longer time-to-contract and consider pricing or condition-based adjustments. long median days on market
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Sample-level supply shows elevated inventory relative to sales activity, and with a reported market temperature of neutral, this combination appears to be creating a cooling market environment that may increase negotiation leverage for buyers while keeping seller expectations in check. neutral market temperature
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Rental and financing context is mixed: median market rent is 2,195 and rent year-over-year trend is down, while interest rate pressure is reported as moderate and current 30-year fixed mortgage rates are described as: Current 30-year fixed mortgage rates in Austin, TX are averaging 6.3%, which remains elevated compared to historical lows, limiting refinancing opportunities for property owners in this market.
Notable Properties
The following 7 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold below market average
Sold below market average
Sold above market average
Sold above market average
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.6% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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