Austin, TX 78702 Real Estate Market Report

ZIP Code: 78702
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

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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 78702 area are averaging 6.4%, reflecting a stable market environment for property owners compared to early 2026 origination benchmarks.

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 current market value and recent transaction activity; however, the available metrics do not include a reported median sold price, so analysis relies on listed-price signals and transaction velocity instead. contextual

2. median listing price: 650,000 alongside a median price per square foot: 536 suggests seller pricing is positioned above what recent closed-transaction data alone (not provided) can confirm; this gap, combined with observed trend data, signals softening prices given the year-over-year price direction is down.

3. median days on market: 262 and elevated inventory relative to sales in the analyzed sample point to slower sales velocity and pricing friction; this appears to be producing moderate transaction delays rather than an immediate market collapse, consistent with a neutral market temperature.

4. median market rent: 2,400 with a rent year-over-year trend of down and mortgage rates in the area averaging 6.4% (30-year fixed) indicate cooling rental income growth and sustained financing costs; combined with moderate interest rate pressure, investors and owners should reassess yield expectations and holding-period plans.

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Notable Properties

The following 3 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 78702 Real Estate Market Report

ZIP Code: 78702
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

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 78702 area are averaging 6.4%, reflecting a stable market environment for property owners compared to early 2026 origination benchmarks.

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 (unavailable) — The primary market-value indicator, median sold price, is not present in the provided dataset; this likely reflects very limited recent closed-transaction data in the analyzed sample and means listing-based signals and contextual metrics should be used cautiously when inferring realized market value.

2. median listing price $549,000 accompanied by down year-over-year price momentum suggests sellers may need to adjust expectations; combined with elevated inventory relative to sales activity, this appears to increase pricing friction between asking and realized values.

3. median days on market 201 points to slower sales velocity and reduced liquidity in the current sample; this extended time on market, together with elevated inventory relative to sales activity, may indicate more negotiation leverage for buyers.

4. median market rent $2,300 alongside a down rent year-over-year trend and moderate interest rate pressure (current 30-year fixed rates averaging 6.4%) signals cooling rental fundamentals and financing costs that could constrain investor demand in the near term.

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Notable Properties

The following 3 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.