How much inventory is on the market in Austin right now?
The Austin-Area MLS currently has 16,728 active listings, down 1.4% from 16,971 a year ago. Months of inventory sits at 5.83, slightly tighter than the 6.04 reading from May 2025 and a 3.5% year over year reduction. Inside the City of Austin the picture is meaningfully different. Active listings have fallen from 5,840 to 4,883, a 16.4% year over year drop. Months of supply inside the city is now 4.87, down from 6.06 last year. That is a 19.6% year over year contraction in available months of supply, and it is the most pronounced supply movement we have seen in the city in several reporting cycles. When supply contracts faster than demand softens, sellers regain some leverage at the margin. That has not yet translated into rising headline prices, but it is the kind of setup that historically precedes one.
What are Austin home prices doing this week?
The Austin-Area MLS average sold price is $602,647, up 7.3% year over year from $561,670. The median sold price is $445,000, up 2.9% from $432,500 a year ago. Average active list price across the region is $619,815, a 7.1% gain year over year, and median active list price is $450,000, a 1.1% increase. The takeaway is that average prices are rising faster than medians, which means the upper end of the market is doing more of the work pulling the average higher. The median, which is a better gauge of where the typical Austin-area home is trading, is up modestly. For buyers, this means the entry and mid tier of the market remains close to where it was a year ago. For sellers, it means the broader market is stable rather than surging.
What are home prices doing inside the City of Austin?
The City of Austin average sold price is $804,502, up 4.3% year over year from $771,487. The median sold price inside the city is $602,500, up 1.3% from $595,000 a year ago. Average active list price is $828,729, a 3.7% gain, and median active list price is $612,500, up 2.1% year over year. City prices are rising more slowly than the broader MLS on the average, but the city remains a clear premium market. The median sold price inside Austin sits roughly $157,500 above the regional median, a reflection of the location, lot, and walkability premium that the urban core continues to command. The notable detail this week is that the city is holding pricing while inventory tightens, which is the combination that tends to favor sellers if it persists.
How much room do Austin buyers have to negotiate right now?
The average sold-to-list price ratio across the Austin-Area MLS is 97.76%. That means the typical Austin home is closing about 2.24% below its final list price. So far this month, 63.79% of all sold properties closed under the list price, up modestly from 62.44% last month. At the same time, 15.90% of homes sold above the list price this month, up from 15.06% last month and up from 14.93% in May 2025. The share closing at list price has eased from 22.50% to 20.32%. The dual movement, more homes closing both below and above list, suggests a market that is sorting itself between properties that are priced correctly and properties that are not. Well-priced homes in desirable submarkets are pulling competing offers, while overpriced listings sit and eventually trade with concessions. Buyers still have negotiating room on the majority of listings, but they are losing leverage on the most desirable inventory.
Which Austin cities and ZIP codes are gaining value right now?
Of the 30 Central Texas cities tracked in the weekly report, 16 posted a month over month price increase and 13 posted a decrease, with one city flat. That is 53% of cities up month over month. On a year over year basis, 15 cities are up and 14 are down, putting the regional split essentially even at 50% and 47%. Across the 75 tracked ZIP codes, 46 posted a month over month price increase, or 61%, while 29 declined. Year over year, 36 ZIP codes are up and 39 are down. The month over month breadth, with more than 60% of ZIP codes gaining and more than half of cities gaining, is stronger than the year over year picture. That is consistent with a market that has stabilized in recent months and is now showing early signs of broadening recovery at the submarket level. From the 12-month peak, however, only 3 of 75 ZIP codes are still at or above their high, and zero of 30 tracked cities remain above their 12-month peak. The recovery is forming from below, not from above.
How far have Austin home prices fallen from their peak?
Across the Austin-Area MLS, the average sold price is $607,998, down $56,517 or 8.5% from the May 2022 peak of $664,515. The median sold price is $459,980, down $78,020 or 14.5% from the May 2022 peak of $538,000. On a price per square foot basis, the average has fallen from $324 in April 2022 to $265 today, an 18.2% decline. Median sold price per square foot has dropped from $280 to $218, down 22.1%. Inside the City of Austin, the average sold price is $792,390, down $55,193 or 6.5% from the May 2022 peak of $847,583. The median sold price inside Austin is $610,000, down $70,000 or 10.3% from the $680,000 peak. Average sold price per square foot inside the city has fallen from $442 to $355, down 19.7%. Median sold price per square foot inside the city is now $313, down from the April 2022 peak of $393, a 20.4% decline. The per square foot figures continue to show the cleanest read on the underlying correction because they strip out size and mix effects. The dollar median is still well below 2022, but the dollar median has also stabilized over the past several months while inventory tightens.
What is the outlook for the Austin housing market heading into summer?
The data this week supports a cautiously constructive read. Inside the City of Austin, supply is contracting at double-digit rates year over year while pricing is essentially flat to modestly positive. Across the broader MLS, the average sold price is up more than 7% year over year and the median is up close to 3%. Above-list closings are rising. Month over month price breadth across ZIP codes is positive. None of this means the broader correction is finished. Headline prices remain well below the 2022 peak on every measure, and more than 95% of tracked ZIP codes and 100% of tracked cities are still below their 12-month high. But the leading indicators, contracting inventory inside the city, rising above-list share, and broadening month over month gains across submarkets, are pointing in the same direction. That is the first time in several months we have been able to say that with this much consistency. The pricing data, which is a lagging indicator, will catch up later if these trends hold through the heart of the summer selling season.
