78723 Austin, TX Housing Market

Trend

The median listing price decreased by 1.8% MoM and 8.3% YoY to $549,000. Active listings are down 8.5% YoY to 150, and new listings have seen a notable decline of 16.7% YoY, now at 40. Median days on market remain relatively stable with a 2.0% YoY decrease, currently at 50 days. The price-reduced share is 24.2%, a minor decrease of 1.5% YoY, indicating some stability in seller expectations despite overall price adjustments. The pending ratio has increased by 6.2% YoY to 0.37, derived from 55 pending listings and 150 active listings, suggesting a slight uptick in buyer engagement relative to available inventory.

Negotiating leverage

The decrease in both active and new listings exerts limited inventory pressure. The modest increase in the pending ratio, while positive, is insufficient to offset the broader trend of declining prices and new inventory. The continued increase in median days on market (though slight YoY) and the elevated price-reduced share suggest that sellers are encountering a more deliberate pace of transactions and are exercising greater price discipline to attract offers.

Luxury segment

The average listing price in 78723 is $579,174, which is approximately $30,174 higher than the median listing price of $549,000, indicating a segment of higher-priced properties influencing the average. The median price per square foot is $358, reflecting a 5.1% YoY decrease.