Austin, TX 78724 Real Estate Market Report

ZIP Code: 78724
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 real estate market in Austin, TX (ZIP: 78724) is characterized by a median sold price of $364,443, reflecting a significant shift in market dynamics. The neighborhood has decreased 8% since 2022, indicating a trend of declining values that may continue as the market corrects itself. This downward movement in prices, coupled with median days on market stretching to 267 days, suggests a slower sales velocity and a cooling market environment.

The current market conditions are marked by elevated inventory levels, with a notable gap between the median listing price of $412,499.50 and the median sold price. This discrepancy may indicate seller expectations that are misaligned with current buyer sentiment, contributing to a buyer's market atmosphere. Despite the positive economic backdrop of job growth, the housing sector is experiencing a notable correction, with median market rent also trending down to $2,088, further emphasizing the cooling nature of the 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

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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 the Austin TX 78724 area around 5.875% are notably lower than the forecasted 2026 average of 6.18%, presenting a cost-saving 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. The median sold price of $364,443 reflects a significant 8% decrease since 2022, indicating a softening market.

2. With median days on market at 267, the market is experiencing slower sales velocity, suggesting a potential adjustment period for buyers and sellers.

3. The median listing price of $412,499.50 presents a notable gap compared to the median sold price, indicating possible pricing friction in the market.

4. The median market rent has declined to $2,088, aligning with the overall trend of decreasing prices in the housing sector.

5. Current market conditions are classified as cold, with elevated inventory levels contributing to a buyer's market atmosphere.

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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.