78728
Austin, Texas

The 78728 ZIP code is experiencing a meaningful price correction, with the median sale price settling at $400,000 following a 9.6% year-over-year decline. Homes are averaging 98 days on market, substantially longer than the metro's more competitive areas, and only 4% of properties are commanding above-list offers. This represents a clear shift from the seller's market that dominated Austin through 2022-2023, with buyer leverage increasing as inventory absorption slows considerably across this northern Austin corridor.

This environment favors patient buyers with financing secured and negotiation skills, as the 98-day marketing period and minimal bidding competition create room for offer concessions on inspection items and closing costs. Cash investors seeking rental properties may find reasonable entry points at the $400,000 median, though the PropIQ score of 45 signals material risk factors requiring due diligence. Sellers face headwinds and should price at or below recent comparables rather than testing the market, given that 96% of transactions close at or below asking price.

The PropIQ Caution rating at 45 suggests underlying market stress beyond visible pricing metrics, potentially indicating oversupply, employment sector weakness, or declining demographic demand in this submarket. The 9.6% price decline may not have reached bottom if days-on-market continues extending past the 100-day threshold. Monitoring month-over-month inventory growth and any acceleration in the price-decline trajectory will signal whether this correction stabilizes at current levels or requires further downward adjustment through mid-2026.