Austin, TX 78738 Real Estate Market Report

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.

Market Metrics

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.

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.

Property Taxes

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.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The median sold price remains the primary indicator of market value and recent transaction activity; however, a specific median sold price value is not provided in the available metrics, so recent transaction-level pricing must be interpreted alongside listing and trend signals rather than a reported sold-price median.
2. The market shows a price year-over-year trend: down with softening price momentum, suggesting sellers may need to moderate asking expectations to align with recent transaction levels.
3. The median days on market: 91 is elevated and appears to signal slower sales velocity; combined with elevated inventory relative to sales activity, this may indicate increased negotiation leverage for buyers and more time required to transact at asking prices.
4. The median listing price: 967,000 and median price per square foot: 290, together with a median market rent: 3,700 and a flat rent trend, suggest pricing pressure on sellers while rental income remains stable; elevated interest rate pressure and current 30-year fixed mortgage rates averaging approximately 6.5% to 6.8% may further constrain buyer affordability and prolong marketing timelines.

Notable Properties

The following 4 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.