Austin, TX 78723 Real Estate Market Report

ZIP Code: 78723
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: 78723) is characterized by a median sold price of $601,000, reflecting the actual transaction activity in the area. This price point indicates a stable market environment, although recent trends show that prices have softened, as evidenced by a year-over-year decline in pricing. The market appears to be in a period of stabilization rather than a downturn, with the local economy remaining fundamentally strong despite these fluctuations.

Transaction activity is moderate, with 258 days on market suggesting a slower sales velocity. The elevated inventory levels relative to sales activity indicate a balanced market, where buyers may have more options available. The median listing price stands at $550,000, which, while slightly lower than the sold price, may indicate some pricing friction as sellers adjust expectations to align with current market conditions.

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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 78723 are approximately 6.6% compared to an average of 6.1% in 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. The median sold price of $601,000 suggests a stable market, despite a down trend in pricing year-over-year.

2. With 258 days on market, properties are experiencing a slower sales velocity, indicating weak liquidity in the current market.

3. The median listing price of $550,000 reflects seller expectations that may not fully align with buyer demand, contributing to pricing friction.

4. Elevated inventory levels suggest moderate sales activity, allowing buyers to have a wider selection of properties.

5. The median market rent of $2,088 has also decreased year-over-year, indicating softening rental conditions in the area.

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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.