Austin, TX Real Estate Market

With a median of 90 days on market and a cool market temperature score of 20, sellers should price strategically and be prepared for longer selling timelines. The $1,175,000 median sale price signals that well-positioned properties can still close at strong values, but patience and realistic expectations are essential.

The cool market conditions and 90-day median days on market give buyers more negotiating leverage than in recent years, with 295 active listings providing meaningful options. A 30-year mortgage rate of 6% means financing costs remain a factor, so buyers should model monthly payments carefully before committing at the $1,175,000 median sale price level.

The median rent of $2,895 alongside a rental inventory of 307 units suggests a reasonably active rental market in 78701, though investors should stress-test returns against a $1,175,000 median purchase price. Smaller units may offer a more accessible entry point, with studio and one-bedroom sale prices at $534,000 and $545,000 respectively, though rental rates for those units of $1,711 and $2,500 warrant careful cash flow analysis.

The current 30-year fixed mortgage rate of 6% and 15-year rate of 5.43% represent a meaningful cost of capital for buyers in this high-price market. Borrowers who can qualify for the 15-year term at 5.43% will pay significantly less interest over the life of the loan, which may be worth exploring given the premium price points in 78701.