Austin, TX 78704 Real Estate Market Report

ZIP Code: 78704
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 (78704) is characterized by a median sold price of $1,033,711, reflecting a shift towards a more balanced market. This indicates a stabilization trend, as the neighborhood has decreased 8% since 2022. The current market conditions suggest that buyers are gaining leverage due to elevated inventory levels and prolonged selling times, with properties averaging 293 days on market.

The median listing price stands at $1,099,995, indicating a notable gap between asking prices and actual sold prices, which may lead to pricing friction as sellers adjust expectations. The market temperature is currently neutral, suggesting a balanced environment where neither buyers nor sellers hold a distinct advantage. The softening rental demand, reflected in a median market rent of $2,850, further emphasizes the need for strategic pricing and marketing adjustments in this evolving landscape.

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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 78704 are approximately 6.5% compared to an average of 6.0% in early 2026, representing a 0.5% increase 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. The median sold price of $1,033,711 indicates a significant adjustment in market value, reflecting a shift towards a more balanced environment.

2. With a median days on market of 293, properties are experiencing slower sales velocity, which may suggest a need for strategic pricing adjustments.

3. The median listing price of $1,099,995 shows a notable gap from sold prices, indicating potential pricing friction as sellers recalibrate expectations.

4. The market temperature is neutral, suggesting a balanced market where both buyers and sellers may need to adjust strategies accordingly.

5. Rental demand appears to be softening, with a median market rent of $2,850, indicating downward pressure on rental prices.

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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.