Austin, TX 78723 Real Estate Market Report

ZIP Code: 78723
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.

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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.

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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.

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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.

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Property Taxes

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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.

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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 the Austin 78723 market are averaging 6.3%, reflecting the prevailing interest rate environment for property owners in this area.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary indicator of current market value is the median sold price of $435,000, which—combined with a down price year-over-year trend—points to recently realized transaction prices softening relative to prior periods.

2. The gap between the $519,900 median listing price and the $435,000 median sold price suggests pricing friction, with seller expectations notably above recent representative sale levels and potential for negotiated concessions.

3. The 197 median days on market together with elevated inventory relative to sales activity indicate slower sales velocity and increased buyer leverage, which may prolong closing timelines for sellers.

4. Elevated interest rate pressure (current average mortgage pricing around 6.3%) and a down rent year-over-year trend—with a $1,695 median market rent—signal weaker near-term housing demand and tighter affordability for owner-occupiers and investors alike.

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Notable Properties

The following 8 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.

Austin, TX 78723 Real Estate Market Report

ZIP Code: 78723
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.

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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.

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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.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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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 the Austin 78723 market are averaging 6.3%, reflecting the prevailing interest rate environment for property owners in this area.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. median sold price is the primary indicator of local market value and recent transaction activity, but the median sold price is not available in the provided metrics; this absence may reflect reporting lag or a small, uneven transaction sample that limits reliable sold-price reporting. neutral data availability

2. median listing price 400,000 combined with median days on market 182 indicates slower sales velocity and pricing friction — sellers' asking prices are present but transactions are taking significantly longer to close, which may suggest downward pressure on realized sale prices and more negotiation room for buyers

3. median market rent 2,150 and a reported rent year-over-year trend down—together with interest rate pressure elevated (Current 30-year fixed mortgage rates in the Austin 78723 market are averaging 6.3%) imply near-term affordability headwinds for buyers and weakening rental demand; given the market temperature is stated as neutral, expect cautious buyer behavior and continued sensitivity to financing costs. elevated

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Notable Properties

The following 8 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.