78615
Austin, Texas

The 78615 market has shifted decisively toward buyers, with the median sale price falling 6.9% year-over-year to $326,000 and homes sitting an average 218.5 days before sale. This extended marketing period—more than seven months—represents a dramatic slowdown from the rapid turnover seen in prior years. Despite the cooling, exactly half of closed transactions still exceed list price, suggesting selective competition persists for well-positioned properties while others languish unsold.

Buyers willing to conduct thorough due diligence now have leverage absent in previous cycles, with inventory dwelling long enough to negotiate terms beyond price concessions. The 218.5-day average permits multiple showings, inspections, and appraisal contingencies without fear of losing opportunities. Sellers facing urgent timelines—relocations, financial pressures, estate settlements—must price aggressively below the $326,000 median to attract the half of buyers still paying premiums. Patient investors seeking rental yield over appreciation can exploit the 6.9% price decline to establish positions.

The PropIQ score of 70 signals neither imminent recovery nor further deterioration, indicating stabilization around current metrics through upcoming quarters. Monitoring whether days-on-market extends beyond 220 or contracts will reveal if the -6.9% price correction has fully adjusted valuations. The 50% above-list statistic warrants continued tracking—if this percentage declines below 40%, expect additional median price erosion as seller capitulation accelerates across remaining inventory.