78744 Austin, TX Housing Market

Trend

The median listing price in 78744 increased by 1.1% MoM and 2.6% YoY to $399,000. However, active listings decreased by 16.8% YoY to 129 units, and new listings saw a more substantial decline of 22.2% YoY to 56 units. The median days on market increased by 12.1% YoY to 51 days, and the price-reduced share saw a 4.9% YoY decrease to 17.2%. The pending ratio is 0.65, representing a 3.8% increase YoY, indicating a faster absorption of available inventory.

Negotiating leverage

The reduced inventory, as evidenced by the 16.8% YoY decrease in active listings and 22.2% YoY decline in new listings, suggests a market where the pace of transactions is quickening. The increase in the pending ratio to 0.65 (up 3.8% YoY) further supports this, indicating a higher proportion of homes going under contract relative to those available. This environment puts pressure on available inventory, and the decrease in the price-reduced share implies increased price discipline from sellers.

Luxury segment

The average listing price in 78744 is $429,604, representing a spread of $30,604 above the median listing price of $399,000. This indicates a segment of higher-priced properties diverging from the overall market median. The median price per square foot is $226, showing a 1.2% YoY increase.