Is it a buyer's or seller's market in Austin right now?

As of spring 2026, Austin is trending toward a balanced market. Active listings are around 10,000, close-to-list price ratios improved to 92%, and median prices are down 3.6% year over year — giving buyers more negotiating leverage than they've had since before the pandemic.

What is the median home price in Austin in 2026?

The median home price in the Austin-Round Rock-San Marcos MSA was $412,000 in February 2026, down 3.6% year over year. Inside Austin city limits, the median was $489,900, down 2.0%.

Are Austin home prices dropping in 2026?

Austin home prices are moderating, not crashing. The metro median is down about 3.6% year over year, which reflects affordability pressure from elevated mortgage rates rather than a fundamental market weakness. The correction is gradual and data-driven.

How many homes are for sale in Austin right now?

There are approximately 10,000 active listings across the Austin metro as of February 2026, down 4.8% from a year ago. New listings are still coming to market at a healthy pace (1,930 in the City of Austin in February alone), keeping options available for buyers.

Is now a good time to buy a home in Austin?

Spring 2026 presents a real opportunity for prepared buyers. You have more inventory to choose from, sellers are negotiating on price and concessions, and competition is lower than during the 2021-2022 frenzy. The key is being pre-qualified before you find the right home so you can move quickly.

What's happening with Austin mortgage rates in spring 2026?

Mortgage rates remain elevated relative to the historic lows of 2020-2021, which is the primary factor constraining buyer demand. However, buyers who qualify have more leverage on purchase price and seller concessions than they've had in years. Working with an independent broker gives you access to rates across 40+ wholesale lenders rather than a single bank's offerings.

Austin Mortgage Market Update: Spring 2026

The Real Numbers: What's Happening in Austin Right Now

I'm going to skip the vibes and give you actual data. The Austin market is active this spring, but it is not the frenzy from a few years ago. Buyers have more leverage. Sellers are adjusting. Here's what the numbers say.

Austin Metro — February 2026

Across the Austin-Round Rock-San Marcos MSA, pending sales hit 2,690 in February. That's up 13.9% year over year. Spring demand is building fast.

But here's the other side: only 1,887 homes actually closed, down 3.6% from last year. Median price came in at $412,000 — also down 3.6%. Active listings are around 10,000, down 4.8% from a year ago. Buyers are coming back faster than sellers, which is pushing us toward a more balanced market.

The close-to-list price ratio improved from 90.6% in December to 92.0% in February. Translation: buyers and sellers are getting closer on price, but homes are still selling below asking on average. Zillow's data shows a sale-to-list ratio of 0.972 across the metro.

City of Austin — The Details

Inside city limits, 843 homes sold in February, down 4.5% year over year. Median price: $489,900, down 2.0%. New listings hit 1,930, up 2.4% from last year.

More choices for buyers. Slightly softer pricing. That's the setup going into spring.

What This Means If You're Buying

You have more leverage than you've had since before the pandemic. That doesn't mean it's easy. Good homes in good neighborhoods still move fast. But you can negotiate on price, repairs, and closing costs in ways that were impossible in 2021-2022.

The Texas A&M Real Estate Research Center says the 2026 market opened with elevated inventory and persistent pricing pressure, with affordability as the main factor shaping demand. That tracks with what I'm seeing every day.

If you're not pre-qualified yet, get that done now. Not next week. When you find the right house, you need to move. A strong pre-qualification letter is the difference between getting the house and watching someone else get it.

What to Watch This Spring

Inventory levels and days on market — these tell you whether spring demand is absorbing supply or if it's building up
Mortgage rates — affordability is still the main constraint on buyer demand. Run your numbers here
Close-to-list price ratios — this is where you see how much negotiating power buyers actually have, and right now it's real

Bottom Line

This isn't a crash. This isn't a boom. It's a market that actually makes sense for the first time in years. Prices are adjusting. Buyers have options. Sellers are meeting the market. If you've been waiting for a window — this is it.

Want to talk through your specific situation? Reach out here or just text me at (512) 956-6010. I'll walk you through where you stand with real numbers, not speculation.

Talk soon,
Adam Styer
Adam Styer | Mortgage Solutions LP
NMLS# 513013 | (512) 956-6010

Spring Market Update: Austin Mortgage Rates & Inventory