Georgetown, Leander, Round Rock Lead April 2026 Austin Housing Update

Austin Real Estate Market Update April 23, 2026 | Daily Briefing

Austin's suburbs are telling very different stories this April, and the numbers behind each city reveal where buyers have the most leverage and where sellers still hold some ground.

The Austin real estate market on Thursday, April 23, 2026 shows a metro area defined not by one storyline but by dozens. Across the roughly thirty cities tracked in the austin housing forecast, six cities posted year over year gains in median sold price while twenty four posted declines. That split is the defining feature of today's austin market update, and it matters because it shows that the Austin metro is not moving as a single unit. Georgetown, Leander, Round Rock, Cedar Park, and Pflugerville each have their own inventory levels, their own absorption patterns, and their own balance between buyers and sellers. Anyone trying to understand austin housing in 2026 has to look beyond the metro average and dig into the city level data.

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Start with the headline metro numbers. Active residential listings sit at 15,959, up 2.0 percent from the same date in 2025 when the count was 15,653. That is a modest increase, but it comes after the 2025 peak of 18,146 reached on June 30 of last year, meaning the metro is working through inventory that accumulated during a historically heavy selling season. Of those active listings, 3,772 are new construction and 12,187 are resale. Almost half, 47.2 percent, have taken at least one price cut, which tells you sellers are actively negotiating before the first offer even arrives. Pending listings came in at 5,147, up 4.0 percent year over year, and that is the single most encouraging demand signal in today's data. Pending sales are a leading indicator, not a lagging one, and four percent growth year over year suggests buyers are engaging even if the pace is slower than historical norms.

Now drill into the suburbs, because that is where the Thursday story lives. Georgetown leads the metro in active inventory with 1,199 listings, reflecting its continued position as one of the fastest growing communities in the austin housing market. Yet Georgetown's Months of Inventory actually improved, dropping from 5.30 in April 2025 to 4.99 in April 2026, a 5.9 percent decline year over year. That means Georgetown has more listings in absolute terms but is absorbing them at a slightly faster rate than it did a year ago. Cedar Park tells an even cleaner story. With just 2.90 Months of Inventory, Cedar Park is the tightest market in the metro on that measure and sits comfortably in the Seller Edge category. Its absorption remains strong, and its active count of 212 listings is manageable relative to demand.

Leander and Round Rock present the middle of the pack. Leander has 645 active listings with 5.92 Months of Inventory, while Round Rock holds 517 active listings at 3.99 Months of Inventory. Round Rock in particular has improved dramatically from two years ago, when its Months of Inventory stood at 2.25 in March 2024. The 53.3 percent increase over that span reflects the broader correction, but Round Rock still absorbs inventory faster than the metro average. Pflugerville sits at 486 active listings and 3.86 Months of Inventory, also firmly in the Seller Edge range. These suburbs are important to the austin real estate forecast because they represent the price points and school districts where the most transactions happen.

The opposite end of the spectrum shows where buyers have real leverage. Bastrop, Burnet, Elgin, Marble Falls, Spicewood, and Dale all sit well above 10 Months of Inventory. Dale in particular reports an extraordinary 35.25 Months of Inventory, though that figure reflects a very small sample of listings. Bastrop has 356 active listings and 12.35 Months of Inventory, which is a clear Buyer Control market. Elgin has climbed to 13.03 Months of Inventory, a 23.1 percent increase year over year. For buyers willing to look beyond the urban core, these outer suburbs offer genuine negotiating room.

Price trends across the metro continue to reflect the ongoing correction. The median sold price for April 2026 is $442,500, down 19.55 percent from the May 2022 peak of $550,000. The average sold price is $575,482, down 15.61 percent from the May 2022 peak of $681,939. At the city level, twenty four of thirty tracked cities posted year over year declines in median sold price. Driftwood saw the steepest drop at 11.8 percent, while Marble Falls fell 14.7 percent. On the upside, Bastrop gained 5.5 percent year over year, Burnet gained 4.0 percent, Lago Vista rose 3.5 percent, Smithville added 2.8 percent, Dale climbed 1.4 percent, and Wimberley was the standout with a 22.1 percent year over year increase in median sold price.

The Activity Index tells us the metro is in the Softening phase at 24.4 percent, slightly above the 24.0 percent recorded in April 2025. New construction is running a much hotter 33.08 percent Activity Index, while resale sits at 21.22 percent. That divergence matters for anyone tracking the austin housing forecast, because builders are moving inventory faster than the resale market through incentives, rate buydowns, and direct pricing adjustments. For agents, it means resale sellers need sharper pricing strategy to compete with builder concessions.

Absorption remains the key pressure point. The current absorption rate of 21.50 percent is well below the historical average of 31.45 percent, meaning the market is clearing inventory at about two thirds of its long term pace. The Market Flow Score of 4.98 is similarly below the historical average of 6.57. These two measures together confirm what the city level data already shows. The austin market update for April 2026 is a market working through supply, with pockets of strength in the closer in suburbs and clear buyer leverage in the outer metro.

For investors, the 25 year compound appreciation rate of 4.717 percent remains the long term anchor. The projection model suggests that if the median sold price has bottomed at $442,500, it would take 59 months, or until February 2031, to return to the prior peak of $551,746. That is a 24.3 percent total appreciation requirement over nearly five years. Patient capital has historically been rewarded in austin real estate, and the current correction is creating entry points in suburbs that were priced out of reach just three years ago.

For sellers, the message is location specific. Cedar Park, Pflugerville, and Round Rock sellers have tighter markets and can price with more confidence. Georgetown sellers are seeing improved absorption year over year. Outer suburb sellers in Bastrop, Elgin, Burnet, and Marble Falls need to price realistically and expect longer marketing timelines. For buyers, the suburbs with Buyer Control conditions offer the strongest negotiating position in years.

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FAQ Section

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

The answer depends heavily on which part of the metro you are targeting, because the austin real estate market is not moving as a single unit right now. With 47.2 percent of all active listings having taken at least one price drop and 15,959 homes currently available, buyers have meaningful leverage, particularly in outer suburbs like Bastrop, Elgin, and Burnet where Months of Inventory exceeds 11. The median sold price of $442,500 is down 19.55 percent from the May 2022 peak, so pricing has reset significantly. However, closer in suburbs like Cedar Park at 2.90 Months of Inventory and Round Rock at 3.99 Months of Inventory remain competitive, so buyers there should still come prepared with strong offers.

Are home prices dropping in Austin Texas?

Yes, prices are still adjusting, and the April 2026 data confirms the trend continues across most of the metro. The median sold price of $442,500 is down $108,000, or 19.55 percent, from the May 2022 peak of $550,000, while the average sold price of $575,482 is down 15.61 percent from its peak of $681,939. Year over year, twenty four of the thirty tracked cities posted declines in median sold price, with only six cities showing gains. That said, the pace of decline has slowed meaningfully compared to 2023 and 2024, and some suburbs like Bastrop and Wimberley have actually posted year over year price increases.

What is the Austin housing market forecast for 2026?

The austin housing forecast for the remainder of 2026 suggests a continued softening phase rather than a sharp recovery or further steep decline. The Activity Index of 24.4 percent places the overall market in the Softening category, while Months of Inventory holds at 5.57, essentially flat year over year. Pending listings are up 4.0 percent year over year to 5,147, which is a positive leading indicator for demand, but the absorption rate of 21.50 percent remains well below the historical average of 31.45 percent. Based on the 25 year compound appreciation rate of 4.717 percent, the projection model suggests the median price would take 59 months to return to its 2022 peak, putting full recovery around February 2031.

How does Austin inventory compare to historical levels?

Current active inventory of 15,959 is elevated compared to most historical periods but has pulled back from the 2025 peak of 18,146 reached on June 30 of last year. Year over year, active listings are up only 2.0 percent from 15,653 in April 2025, which suggests inventory growth is decelerating. Cumulative new listings from January through April total 17,308, which is down 9.4 percent year over year but still 20.5 percent above the long term average. Months of Inventory at 5.57 is significantly higher than the tight 2 to 3 month readings that defined the 2020 to 2022 boom but still below true Buyer Control territory at the metro level.

Which Austin cities have the most price drops right now?

At the city level, Driftwood posted the largest year over year median price decline at 11.8 percent, followed by Marble Falls at 14.7 percent, Lockhart at 10.9 percent, and San Marcos at 10.3 percent. In terms of active listings with price reductions, the metro wide figure is 47.2 percent, but several individual cities exceed that rate. Hutto leads with 57.6 percent of active listings having had at least one price drop, followed by San Marcos at 56.2 percent, Kyle at 54.6 percent, Dale at 54.5 percent, Smithville at 53.4 percent, and Bastrop at 53.4 percent. These figures tell buyers where sellers are most actively negotiating before receiving offers.

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