Austin, TX 78702 Real Estate Market Report

ZIP Code: 78702
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Austin, TX (ZIP: 78702) is characterized by a median sold price of $680,000, reflecting a stabilization in values after a period of rapid growth. The neighborhood has decreased 8% since 2022, indicating a shift in market dynamics that may favor buyers. This trend is underscored by the median days on market of 314, which suggests a slower sales velocity and longer selling times, providing buyers with increased negotiation power.

The current market conditions reveal elevated inventory levels, with median listing prices at $650,000, creating a notable gap between asking and selling prices. While the median market rent stands at $2,088, the overall rental demand remains competitive despite a downward trend in rental prices. The market temperature is classified as neutral, suggesting a balanced environment where neither buyers nor sellers hold a distinct advantage, although elevated interest rate pressure at 6.63% may influence buyer sentiment moving forward.

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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

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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 Austin, TX 78702 are averaging 6.63%, which is 0.4% higher than the 2026 origination rates of approximately 6.23%.

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 median sold price of $680,000 reflects a market that has decreased 8% since 2022, indicating a potential cooling trend.

2. With median days on market at 314, the market is experiencing slower sales velocity, allowing buyers more time to make decisions.

3. The median listing price of $650,000 shows a significant gap compared to sold prices, suggesting potential pricing friction for sellers.

4. Despite a median market rent of $2,088, rental prices are down, yet demand remains competitive, indicating a complex rental landscape.

5. Current interest rates at 6.63% exert elevated pressure on buyer affordability, which may impact future sales activity.

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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.