78736 Austin, TX Housing Market

Trend

The median listing price in 78736 experienced a 5.0% month-over-month increase to $729,900. However, this figure represents an 8.2% decrease year-over-year. Active listings have decreased by 21.2% year-over-year to 26, and new listings have seen a substantial 40.0% year-over-year drop to 12. Median days on market increased by 7.2% year-over-year to 45 days. The share of price-reduced listings has risen by 11.5% year-over-year, reaching 24.6%. The pending ratio stands at 0.38, showing a modest 2.1% year-over-year increase, with 10 pending listings.

Negotiating leverage

The reduced number of new listings and active inventory suggests some inventory pressure. However, the notable year-over-year decline in median listing price, coupled with increasing days on market and a higher percentage of price reductions, indicates that property owners are exhibiting less price discipline. This environment allows for a slower pace of negotiation.

Luxury segment

The average listing price of $928,460 is significantly higher than the median listing price of $729,900, suggesting a notable luxury segment within the market. The average listing price has seen an 18.8% year-over-year decline. The median price per square foot is $324, representing a 6.6% year-over-year increase, indicating value retention at this specific metric despite broader price adjustments.