Austin, TX

The market in ZIP 78734 is currently classified as Very Weak, characterized by persistent price declines, subdued pending activity relative to inventory, and elevated days on market.

The median listing price has declined by 1.3% over the past year. While active listings have decreased by 11.3% year-over-year, new listings have seen a 10.0% increase over the same period. Median days on market have extended by 6.5% year-over-year to 98 days, indicating a slower pace of transactions. The price-reduced share stands at 24.3%, a 3.2 percentage point decrease from the prior year. The pending ratio is 0.21, reflecting a 5.9% year-over-year increase, yet remains low relative to the active inventory.

The current market dynamics suggest that buyers have significant negotiating leverage. With an average of 98 days on market, the pace of sales is slow, and the low pending ratio indicates that available inventory is not being absorbed quickly. This environment necessitates price discipline from sellers to attract offers, as inventory pressures are not driving rapid transactions.

The luxury segment in this ZIP code shows a notable spread between the median listing price of $750,000 and the average listing price of $1,168,760, suggesting a significant presence of higher-priced properties. The average listing price has seen a 3.6% year-over-year increase, despite the overall median price decline. The median price per square foot is $312.