Downtown Austin Condo Market Report: September 2026
Redfin's three-month 78701 median was about $750K through August 2026, up 7.2% year over year, a different measure from July's single-month figure. Homes still closed at 95.1% of list after a median 84 days, so buyers keep negotiating room.
Three-month median $750K, up 7.2%
Redfin's 78701 median sale price for the three months ending August 2026 rose 7.2% year over year, with price per square foot at $655.
New source, not a rally
July's minus 12% was a single-month RealtyTrac median; this cycle uses Redfin's three-month median, so the two are not directly comparable.
84 days, down from 112
Downtown homes sold faster than a year ago but still closed at 95.1% of list, and 32.1% of listings took a price drop.
City tax rate rose for 2026-27
Austin adopted $0.579948 per $100 on August 12, 2026, up from $0.5240, on top of high-rise HOA dues near $1,200 a month.
Waterline is open
The 1,025-foot tower at 98 Red River opened in September 2026 with 1 Hotel Austin and rental apartments.
Downtown condo pricing looks firmer than it did in July, but part of that is a change of yardstick, not a change of market. Over the three months ending August 2026, Redfin put the 78701 median sale price at about $750K, up 7.2% year over year, with the median price per square foot at $655, up 24.1%.
What changed since July, and why. July's report led with a $749K median down about 12% year over year. That was RealtyTrac's single-month median for May. RealtyTrac's July reading has since swung to $503K, down 38.89%, which says more about how few units close in a single downtown month than about value. This report switches to Redfin's three-month median across all home types. It is a different measure, so the move from minus 12% to plus 7.2% is not a 19-point rally. What the new measure does show is that downtown pricing is not falling year over year.
July's leverage call mostly holds. Homes sold at 95.1% of list price and took a median 84 days, down from 112 a year earlier. Only 4.2% sold above list, and 32.1% of listings took a price drop. Citywide, Austin condos and townhomes carried 10.88 months of inventory in August with a median 83 days on market, and the August condo report still calls that a buyer's market. Sellers are finishing faster than a year ago; buyers still have room to negotiate.
Where the supply sits. Redfin showed 233 active 78701 listings on September 28, 2026: 86 at or under $550K, 72 from $550K to $1M, 47 from $1M to $2M, and 28 at $2M and up.
Carrying costs moved up. The City of Austin adopted a rate of $0.579948 per $100 for fiscal 2026-27, up from $0.5240. Add HOA dues that a Q1 2026 report put near $1,200 a month for the median high-rise, and monthly carry still deserves as much attention as price.
A new neighbor on Red River. Waterline, at 1,025 feet the tallest building in Texas, opened in September with 1 Hotel Austin and rental apartments, with one-bedrooms listed from $4,027 a month including fees.
Working this market. Jonathan Creath is a Real Estate Advisor with Kuper Sotheby's International Realty and part of Creath Partners, the family business his father Garry Creath founded in 1971 and brought to Austin in 1989. Downtown is one of the areas the practice works. The approach is lifestyle-first: match the building and sub-district to how you want to live, then negotiate on the numbers.
Downtown Austin as of September 28, 2026
These figures are frozen at publication. The Downtown Austin guide carries the current month's numbers.
Every number, and where it came from.
78701 median sale price of $749,676 over the three months ending August 2026, up 7.2% year over year; median $655 per square foot, up 24.1%; 84 median days on market versus 112 a year earlier; 95.1% sale-to-list, up 0.6 points; 4.2% sold above list; 32.1% of homes with price drops.
redfin.com ↗233 active 78701 listings on September 28, 2026: 86 at or under $550K, 72 from $550K to $1M, 47 from $1M to $2M, 28 at $2M and up.
redfin.com ↗RealtyTrac 78701 median sold price of $503K for July 2026, down 38.89% from $823.2K.
realtytrac.com ↗City of Austin condos and townhomes, August 2026: 10.88 months of inventory, down 5.8% month over month; median 83 days on market; characterized as a buyer's market.
austinrealestatehomesblog.com ↗Downtown high-rise median HOA near $1,200 a month in Q1 2026, from about $850 to $1,100 at 360 Condos studios and one-bedrooms to $1,800 to $4,000 or more for W Residences penthouses.
grewalregroup.com ↗Austin City Council adopted a $6.63 billion FY2026-27 budget and a $0.579948 per $100 city tax rate on August 12, 2026; typical city bill from $2,074 to about $2,190.
communityimpact.com ↗Tax year 2025 City of Austin rate of $0.5240 and combined Austin rate of about $2.07 per $100 of taxable value.
ballardpropertytaxprotest.com ↗Waterline at 98 Red River opened in September 2026 at 1,025 feet and 74 stories, the tallest building in Texas.
newsweek.com ↗Waterline's 1 Hotel Austin opened September 3, 2026; one-bedroom rents from $4,027 a month and two-bedrooms at $12,357 including mandatory fees.
kut.org ↗Austin Transit Partnership dropped a $47 million lease at 100 Congress Ave on September 21, 2026, to expand at 203 and 201 Colorado St., and aims to break ground on light rail next year.
kut.org ↗Waterloo Greenway Phase II, the Confluence, opened June 6, 2026, spanning 13 acres along Waller Creek between 4th Street and Lady Bird Lake, part of a 35-acre park system.
waterloogreenway.org ↗Moody Amphitheater at Waterloo Park concert dates from September 30 through November 7, 2026.
moodyamphitheater.com ↗Austin City Limits Music Festival takes place at Zilker Park on October 2-4 and 9-11, 2026.
aclfestival.com ↗Texas Book Festival on Congress Avenue, November 14-15, 2026, 10 a.m. to 5 p.m.
austintexas.gov ↗
Redfin 78701 housing market data (three months ending August 2026, all home types), Redfin active-listing counts for 78701 on September 28, 2026, and the August 2026 Austin Condo Price Report for citywide condo supply. July's report led with RealtyTrac's single-month 78701 median; this cycle uses Redfin's three-month median, a different measure, so the two headline figures are not directly comparable. Price distribution counts Redfin's 233 active 78701 listings by price band on September 28, 2026 (86, 72, 47 and 28).
