Central Texas real estate remains firmly in motion. May 2026 data from Unlock MLS and the Austin Board of Realtors shows pending contracts climbing 14.3% year-over-year, closed sales holding steady, and the median price essentially flat for a second straight month—evidence of a market settling into a healthier, more predictable rhythm in the Austin-Round Rock-San Marcos metro. Austin Realty Insights tracks this data so you don't have to.
The May 2026 Central Texas Housing Report from Unlock MLS and the Austin Board of Realtors confirms that the spring market's momentum has carried into early summer. Across the Austin-Round Rock-San Marcos metropolitan statistical area, 2,953 homes closed in May at a median price of $440,000—essentially flat compared to April and down less than one percent from May 2025. The combination of steady transaction volume and a stabilizing median price signals a market settling into a healthier, more predictable rhythm after several years of sharp swings.
Pending sales climbed 14.3% year-over-year across the MSA to 3,310 transactions, holding near April's elevated total of 3,411. Vaike O'Grady, market research advisor at Unlock MLS, said buyers are increasingly "adapting to current market conditions rather than waiting for perfect circumstances" to make their move. That forward momentum in pending contracts points to continued closed-sales strength heading into summer.
"Buyers are adapting to current market conditions rather than waiting for perfect circumstances."
— Vaike O'Grady, Market Research Advisor, Unlock MLSThe City of Austin itself is showing some of the most compelling supply-side improvement. Active listings within city limits fell 24.5% year-over-year to 4,374 homes, while months of inventory compressed to 4.4 months—down 1.2 months from a year ago. That tightening inventory, combined with a 15.9% jump in pending sales inside city limits, suggests that well-priced Austin properties are attracting genuine competition again after a long period of buyer hesitation.
Inside the City of Austin, 1,076 homes closed in May—a 4.6% year-over-year increase—at a median of $595,000, up 0.5% from May 2025, the city's first year-over-year median gain in recent memory. Total dollar volume within the city reached approximately $843 million, a 3.4% gain year-over-year, while the average close-to-list price ratio improved to 95.2%, up from 94.6% a year ago. These are signs of a market normalizing toward healthier, sustainable activity rather than continuing to soften.
The broader context remains important. Affordability is still a central challenge for many Central Texas families, and mortgage rates near 6.5% continue to act as a ceiling on demand among first-time buyers. But the May data confirms that buyers who have the financial capacity to move are doing so. The window of maximum buyer leverage—more inventory, lower prices, and willing-to-negotiate sellers—keeps narrowing as demand rebuilds from its 2023–2024 lows.
"Central Texas remains one of the most dynamic regions in the country."
— John Crowe, 2026 Unlock MLS & ABoR PresidentNew listings inside Austin fell 19.5% year-over-year to 1,757 in May. Tighter new supply combined with stronger pending activity reinforces the case that the balance of power is gradually shifting back toward sellers—at least in the most desirable city-core submarkets. Buyers who have been waiting for further price declines may find the floor is already behind them.
| County | Closed Sales | Sales Change YoY | Median Price | Price Change YoY | Active Listings | Pending Sales |
|---|---|---|---|---|---|---|
| Travis County | 1,353 | ↑ 1.6% | ~$535,000 | ↓ 3.9% | 6,096 | 1,524 (+20.3% YoY) |
| Williamson County | 1,063 | ↑ ~2.0% | $406,000 | ↓ 4.5% | 3,722 | 1,124 |
| Hays County | 375 | ↓ 28.7% | $390,000 | ↑ 1.6% | 1,751 | 462 (−7.4% YoY) |
| Bastrop County | 117 | ↑ 9.3% | $350,000 | Flat | 719 | 150 (+~8% YoY) |
| Caldwell County | 45 | ↓ 6.3% | $250,000 | ↓ 20.5% | 220 | 50 |
| Austin-RR-SM MSA | 2,953 | — | $440,000 | ↓ 0.9% | 12,500+ | 3,310 (+14.3% YoY) |
Source: Unlock MLS & Austin Board of Realtors® (ABoR) — May 2026 Central Texas Housing Report, initial coverage published June 15–17, 2026. Full report available at UnlockMLS.com/Stats. MSA-wide closed-sales YoY change was not available at time of publication. Data reflects MLS-reported activity only.
Median prices across the Austin metro remain below their 2022 peak, inventory is higher than pre-pandemic norms, and sellers are still negotiating. With pending sales up 14.3% in May and city-core inventory tightening sharply, the market is clearly firming. First-time buyers and move-up buyers who have been waiting for conditions to stabilize are finding May and June 2026 to be a genuine sweet spot—before competition fully rebuilds.
Inside Austin city limits, closed sales rose 4.6% year-over-year in May and pending transactions jumped 15.9%. Sellers who price accurately relative to today's adjusted market are closing quickly—particularly in established in-town neighborhoods where active inventory has fallen nearly a quarter from last year. Sellers retain strong equity positions from the 2020–2022 run-up and are transacting in a market that rewards realistic, data-driven pricing over aspirational list prices.
Austin's lease market continues to absorb demand as homeownership affordability constraints keep a substantial share of residents as long-term renters. Across the Austin-Round Rock-San Marcos MSA, closed leases held roughly flat year-over-year in April (the most recent month with full lease data available), while pending lease transactions climbed nearly 13%—pointing to a healthy incoming tenant pipeline. A median MSA rent near $2,100 per month remains well-supported by the metro's tech-anchored employment base, offering investors stable income while home price normalization creates better entry valuations.
The Austin-Round Rock-San Marcos MSA lease market showed resilient activity in April 2026, the most recent month with full leasing data published in ABoR's monthly report at time of writing. 2,631 leases closed during the month—essentially flat year-over-year—as renter demand held firm despite an expanded supply of rental inventory across the metro.
Median rent across the MSA settled at $2,100 per month, a 4.5% decline from April 2025, giving renters meaningfully more value than they had a year ago. Active lease listings fell 7.3% year-over-year to 3,810 units, while pending lease transactions climbed 12.9%, pointing to healthy absorption as the spring leasing season ramped up. For property investors, the combination of firm transaction volume and a shrinking active supply base suggests that rental demand remains structurally durable in a metro where elevated home prices continue to redirect would-be buyers toward the rental market.
Austin Realty Insights tracks real estate conditions across every corner of the 18-county Central Texas region—from the dense urban core of Travis County to the fast-growing suburban corridors of Williamson, Hays, Bastrop, and Caldwell counties. Whether you're focused on a specific ZIP code in East Austin or evaluating investment opportunities in the outer ring suburbs, our market intelligence is grounded in the same MLS data that powers the official ABoR Central Texas Housing Report.
