78749
Austin, Texas

The 78749 ZIP code is experiencing a modest price correction, with the median sale price reaching $545,000, down 2.7% year-over-year. Homes are spending an average of 74 days on market, indicating a significant shift from the rapid turnover seen in previous years. Only 19% of properties are closing above list price, suggesting buyers now hold negotiating leverage in a market that has clearly moved past its pandemic-era intensity.

These conditions favor patient buyers with strong pre-approval who can capitalize on extended negotiation windows and reduced competition. The 74-day average DOM provides ample time for thorough due diligence and multiple offer attempts without facing bidding wars. Sellers with equity built from 2020-2022 appreciation can still exit profitably, but those who purchased in the past 18 months may face break-even scenarios given the 2.7% decline and typical transaction costs of 8-10%.

The PropIQ score of 60 signals caution rather than crisis, suggesting stabilization rather than freefall, but momentum indicators remain negative. The sub-20% above-list closing rate indicates price discovery is ongoing, and sellers who maintain inflated expectations based on 2021-2022 comps will likely see DOM extend beyond 90 days. Monitor absorption rates and new listing volume through Q2 2026 to determine whether this represents temporary recalibration or the beginning of a sustained downward trend.