Austin, TX 78703 Real Estate Market Report

ZIP Code: 78703
Report Date: February 2026
Market Temperature: COLD
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the Austin, TX housing market reflects a median sold price of $1,895,000, indicating a shift towards a more balanced market. The neighborhood has decreased 8% since 2022, suggesting a cooling trend in property values after a period of rapid growth. This decline in sold prices may indicate a recalibration of buyer expectations and market realities, as the market transitions from a previous seller-favorable environment to one that is more neutral or even cold in terms of market temperature.

The current market conditions are characterized by elevated inventory levels and extended median days on market, which stand at 273 days. This suggests a slower sales velocity and may reflect excess supply relative to sales activity. With a median listing price of $2,295,000, there is a notable gap between listing prices and sold prices, indicating potential pricing friction as sellers adjust to the current market dynamics. Additionally, the rental market is experiencing downward pressure, with median market rent at $2,540, further contributing to the overall cooling of the housing market.

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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 Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Austin TX market are around 5.625% to 6.490% compared to recent historical averages around 6.19% to 6.490% seen in late 2025/early 2026.

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. $1,895,000 is the median sold price, reflecting a 8% decrease since 2022, indicating a cooling trend in the market.

2. The median days on market is 273 days, suggesting a slower sales velocity and extended time for properties to sell.

3. With a median listing price of $2,295,000, there is significant pricing friction as sellers adjust to market realities.

4. The market temperature is currently cold, which may indicate a shift towards a more balanced environment.

5. Median market rent has decreased to $2,540, reflecting downward pressure in the rental market due to high multifamily supply.

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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.