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Real Estate Market: Austin, Texas
Brief
Tracking the real estate market in Austin, Texas: average price per square foot from official data, mortgage rate changes, major new residential projects. Not needed: listings from individual agencies.
Description
Austin's housing market has moved through a real correction from its pandemic-era peak and appears to have stabilized rather than continuing to fall, though elevated financing costs mean affordability hasn't improved as much as lower prices alone would suggest.
Home Prices
Austin's median home sale price sits around $542,000–$545,000 as of mid-2026, broadly flat year-on-year after a roughly 12% peak-to-trough correction between mid-2022 and late-2024. Prices remain down significantly (some measures show over 20%) from the May 2022 peak.
Mortgage Rates
The 30-year fixed mortgage rate stood at 6.54% as of May 2026, keeping total monthly payments on the median home elevated by historical standards despite lower list prices.
Market Dynamics
Inventory has expanded materially through 2025 into 2026, pushing months-of-supply into balanced territory and giving buyers meaningfully more negotiating leverage than during the 2021–2022 boom.