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Austin Housing Market

By Israel Linares

Austin home prices edge downward amid elevated supply

The median home price declined compared to May 2025, weighed down by high inventory levels and demand that has not meaningfully picked up. However, supply levels began to ease year over year for the first time in more than two years in May, helping slow the decline in median home price.

Austin home sales steady even as affordability pressures persist

Higher mortgage rates continued to reduce affordability and kept many Austin buyers on the sidelines. Despite these headwinds, sales activity remained relatively steady year over year, with over 3,000 homes sold. The total represents a modest annual decline of 0.4%, or 13 fewer transactions than in the same period last year.

Townhomes, in contrast, posted growth, with transactions up 2.3% year over year, compared to a modest 0.2% increase for single-family homes. Conversely, condo sales were down 9.6%. Lower price points supported demand for townhomes, which averaged $317,000, the most affordable of all property types.

Austin inventory stays elevated despite recent pullback

Inventory levels remained elevated, a key driver of ongoing downward price pressure. Compared to May 2019, when about 11,000 homes were for sale, May 2026 inventory was much higher at 15,610. The elevated supply gave buyers more negotiating leverage and extended decision timelines. However, supply growth eased in May, declining 4.6% from May 2025 levels, the first year-over-year decline since January 2024.

At the same time, fewer homes were listed on the market. New listings declined 6.4% annually, falling from 5,180 to 4,850. Many potential sellers decided to wait before listing, which contributed to a slight pullback in overall inventory. Even with this decline, supply remains well above normal levels.

Austin home prices remain under pressure

Home prices continue to decline at one of the fastest rates among major U.S. markets. Austin placed near the bottom among the 40 largest metros for annual price growth, with prices falling 2.1% year over year, a drop of roughly $9,250. By comparison, the national median home price posted a 1.8% increase over the same period.

Current market conditions reflect the unwinding of unsustainable gains during the pandemic period, when prices increased 66% between May 2020 and May 2022. Since reaching $550,000 in May 2022, prices have declined by about 20%, with the pace of decline now slowing.


Grid-style KPI chart showing Austin housing metrics: sale prices stabilized near $436,000, while listings remained elevated and sales remained subdued in 2026.
In May, Austin's median sale price was $436,000, while the inventory of homes for sale decreased to 15,610 and homes sales totaled 3,005.


Austin Sale Prices

The median home sale price in Austin decreased by 2.1% compared to the same time last year, while the national median price rose by 1.8%.

Austin ranks 37th for annual median price change among the top 40 US markets

Austin median home prices decreased by $9,250 year over year on a nominal basis in May to $436,000. Meanwhile, the national median home price increased by $7,000 to $395,000. 

Austin's median home price is above the nation's

Austin was the 19th highest-priced housing market among the top 40 largest markets last month. The Austin median home price of $436,000 was 10.4% above the national median home price. Austin's median home price in May compares to the market's peak of $550,995 recorded in April of 2022.

Austin single-family prices decrease

The median price of Austin single-family homes fell by $6,500 over the past year to $448,500, while the median townhome price declined by 9.8%, and the median condo price rose by 0.6%.


KPI panel shows Austin median price near $436,000, declining 2.1 percent yearly, with lower national ranking momentum.
Austin ranked 37th among the 40 largest U.S. markets for home price appreciation over the past year in May.


Time series bar chart shows prices rising to over $500,000 in 2022, then stabilizing and slightly declining toward mid-$400,000 range.
Austin's median home sale price was $436,000 in May.


Area chart shows rapid price growth peaking above 40 percent around 2021, then falling into negative territory beginning in 2023.
Austin home prices decreased by 2.1% in May compared to the same month in 2025.


Column chart shows May 2026 prices declining modestly year over year, reflecting ongoing market correction.
Austin's annual median home sale price decreased by 2.1% in May, compared to a 2.8% decrease the year prior.


Horizontal bar chart ranking metro median sale prices in May; Austin around $436,000 mid-tier, far below California leaders.
At $436,000, Austin ranked 19th nationally for median home sale price in May.


Bar chart of annual price growth; Austin declined about 2.1 percent, underperforming most metros where price gains remained positive.
Austin ranked 37th among the 40 largest U.S. markets for home price appreciation over the past year in May, posting a 2.1% decrease.


Grid-style KPI chart showing Austin sale prices by property type; single-family $448,500 declined slightly, townhome fell sharply, condos saw modest growth.
The median price of Austin single-family homes fell by 1.4% over the past year to $448,500, while the median townhome price fell by 9.8% to $317,000, and the median condo price grew by 0.6% to $358,000.


Bar chart shows Austin prices by property type; single-family highest near $448,000, townhome weakest growth, condos showing slight annual gains.
The median price of Austin single-family homes decreased by 1.4% year over year in May, while the median townhome price fell by 9.8%, and the median condo price grew by 0.6%.


Austin Inventory

The number of homes for sale in Austin decreased by 4.6% in May compared to the same time last year, while national homes for sale rose by 4.3%.

Austin's inventory of homes for sale decreases

Austin homes for sale fell by 747 year over year in May to 15,610 homes for sale. Austin ranked 32nd, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in May.

Austin homes for sale are above their pre-pandemic levels

Austin homes for sale were above their pre-pandemic levels in the month of May. Austin homes for sale were 41.3% above the May 2019 total of 11,048.

Austin single-family inventory decreases

Austin single-family homes for sale decreased by 5.3% to 13,085 in May. In comparison, townhome for sale fell by 5.9% to 595, and condo homes for sale increased by 1.4% to 1,930.


KPI chart shows 2026 Austin listings at 15,610 units with slight annual decline, indicating elevated but stabilizing supply.
Austin recorded 15,610 homes for sale in May, ranking 16th nationally, while inventory fell 4.6% year over year.


Time series bar chart from 2018–2026 shows Austin listings rising sharply post-2022, peaking near 16,000 with elevated supply levels.
Austin inventory decreased by 4.6% year over year in May to 15,610 homes for sale.


Area chart of listing growth shows a large spike above 100 percent around 2022, moderating to slight declines by 2025–2026.
Austin inventory decreased by 747 in May compared to the same period of last year, for a 4.6% annual decrease.


Column chart shows monthly May changes since 2018; strong growth in 2022–2023 reversed to a 4.6 percent decline in 2026.
Austin inventory decreased by 4.6% year over year in May, compared to a 12.7% annual increase in May 2025.


Horizontal bar chart of homes for sale by metro in May; Austin has 15,610 listings, mid-range among large U.S. housing markets.
With 15,610 homes for sale in May, Austin ranked 16th among the top 40 U.S. markets for inventory.


Bar chart shows annual homes for sale growth by metro; Austin declined 4.6 percent, contrasting strong gains in Midwest and Southeast markets.
Austin's 4.6% annual decrease in homes for sale ranked the metro 32nd among major U.S. markets.


KPI grid displays 2026 homes for sale by type; single-family highest at 13,085 with declines, condos slightly increased.
Austin single-family homes for sale decreased by 737 in May to 13,085, while townhomes for sale fell by 37 to 595, and condo homes for sale increased by 27 to 1,930.


Bar chart shows Austin homes for sale by property type and growth; single-family and townhomes listings decline, while condos posted slight annual increases.
Over the past year, single-family homes for sale decreased by 5.3% in Austin. In comparison, townhome inventory decreased by 5.9% and condo inventory rose by 1.4% over the same period.


Austin Home Sales

The number of home sales in Austin decreased by 0.4% in May compared to the same time last year, while national home sales dropped by 1.2%.

Austin home sales decrease

Austin home sales declined by 13 year over year on a nominal basis in May to 3,005. For context, 3,018 sales closed in Austin in May 2025.

Austin's annual home sales activity change ranks 17th nationally

Austin ranked 17th for the annual change in home sales out of the top 40 U.S. markets in May, on a percentage basis. This year's May decrease of 0.4% compares to the 4.2% year-over-year decrease in May 2025.

Single-family sales in Austin are higher than a year ago

Austin single-family sales increased by 0.2% in May to 2,728. In comparison, townhome sales rose by 2.3% to 88, and condo sales fell by 9.6% to 189.


KPI panel shows 3,005 Austin home sales, down 0.4 percent annually, ranking lower among major U.S. housing markets.
Austin homes declined by 0.4% year over year, ranking 17th among the nation's 40 largest housing markets.


Time series bar chart shows home sales from 2018–2026; peak around 2021 followed by sustained lower activity through 2025–2026.
Home sales in Austin totaled 3,005 in May, 13 fewer than in May 2025.


Area chart shows 2026 home sales slightly negative, following prior volatility and large declines from pandemic-era highs.
The number of Austin homes sold in May was down by 0.4% compared to the same month in 2025.


Column chart shows May sales shifts; sharp 46 percent surge in 2021 followed by mostly negative changes through 2022–2026.
The 0.4% annual decrease in the number of homes sold in Austin in May compares to a 4.2% decrease in May 2025.


Horizontal bar chart ranks metro home sales; Austin around 3,005 transactions, placing mid-lower among major U.S. markets.
In May, 3,005 homes sold in Austin, ranking it 23rd among the top 40 U.S. markets.


Bar chart compares yearly home sales changes; Austin slightly negative, declining 0.4 percent, reflecting softer demand versus several declining markets.
Austin's 0.4% year-over-year decrease in home sales ranked 17th among the top 40 markets nationally.


Grid-style KPI chart displays home sales by property type; single-family stable with slight growth, townhomes increased modestly, and condos declined sharply annually.
Austin recorded 2,728 single-family home sales in May, 88 townhome sales, and 189 condo sales.


Bar chart shows 2026 Austin home sales by property type; single-family leads at 2,728, while condos decline sharply and townhomes increase moderately.
The number of Austin single-family home sales increased by 0.2% year over year in May, while townhome sales grew by 2.3%, and condo sales decreased by 9.6%.


For questions and commentary about this report:

Israel Linares, Senior Market Analyst at CoStar and Homes.com, based in Austin, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Israel Linares

Senior Market Analyst

Homes.com

ilinares@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Austin during May 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

 About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.

Writer
Israel Linares

Israel Linares is a Senior Market Analyst at CoStar and Homes.com, where he analyzes residential and commercial real estate trends in the Austin region. His analysis centers on home prices, housing supply, and market cycles, examined within the context of broader economic conditions. He also focuses on the multifamily sector, tracking rental performance, development activity, and shifting market fundamentals to support informed, data‑driven decisions. He brings eight years of experience in real estate analytics, including prior roles as a Senior Data Analyst at CBRE. Israel holds a finance degree from Boston University and regularly provides trusted analysis and commentary to local and international media, including the BBC, as well as industry audiences.

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