Austin, TX 78703 Real Estate Market Report

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

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Executive Overview

The median sold price in Austin, TX (ZIP: 78703) stands at $1,796,395, reflecting a notable decrease in market value as the neighborhood has decreased 8% since 2022. This downward trend in sold prices suggests a shift in buyer sentiment, likely influenced by elevated interest rates, which are currently pressuring the market. Despite the overall price decline, the market is characterized by elevated inventory levels, indicating a potential imbalance between supply and demand.

Transaction activity appears moderate, with properties remaining on the market for an extended period, averaging 300 days. This extended duration may indicate slower sales velocity, as potential buyers seem to be pausing their purchasing decisions amid rising borrowing costs. The median listing price of $2,272,500 highlights a significant gap between seller expectations and actual market performance, further complicating the pricing landscape in this desirable area.

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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 Austin TX, around 6.25% to 6.625%, are slightly lower than the average rates observed for 2026 originations, presenting a modest refinancing opportunity for property owners.

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. $1,796,395 is the median sold price, indicating a market that has decreased in value.

2. Properties are spending an average of 300 days on market, suggesting slower sales velocity and potential buyer hesitation.

3. The median listing price of $2,272,500 reflects a significant gap compared to sold prices, indicating pricing friction in the market.

4. Elevated interest rates are contributing to elevated interest rate pressure, impacting buyer activity and market dynamics.

5. The median market rent of $2,540 suggests a strong rental demand, contrasting with the decreasing trend in property sales.

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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.