Eleven Oaks Realty is proud to present their August 2026 Austin Multi Family Real Estate Price Report measuring activity in the Austin multi family market. This report includes all multi family properties (duplex, triplex and quadplex) that sold in August 2026.
August was a rough month for multi family sellers. The median sold price dropped to $456,300, down 12.3% from July and down 24% from a year ago, while the typical property took 70 days to sell, more than a third longer than July’s pace. Only 19 multi family properties closed for the month, and with 10.05 months of supply now sitting on the market, Austin’s multi family segment remains solidly in buyer’s market territory.
All data below covers multi family residential properties (duplex, triplex, and quadplex) in the city of Austin. Data is sourced from Realtors Property Resource (RPR) and the Austin Board of REALTORS MLS. Some metrics may vary slightly between sources due to differing methodology; where differences exist, they are noted.
The Austin Multi Family Market is a Buyer’s Market
RPR classifies Austin’s multi family market as a buyer’s market in August, with 10.05 months of supply on hand, up 18.5% from a year ago and roughly double the 4 to 6 months that typically defines a balanced market. Six months of inventory is the general benchmark where the advantage shifts from sellers to buyers, and Austin multi family properties are now sitting well past that line.
The four key metrics on RPR’s dashboard all moved together this month. The median sold price fell to $456,300, down 12.3% month over month. Sellers who did close were still getting 95.4% of their asking price on average, essentially flat compared to July’s 95.81%, but properties are taking noticeably longer to find a buyer: median time on market jumped to 70 days, up 37.3% from July. The multi family market has a much smaller sample size than single-family homes each month, so a handful of unusual transactions, whether a fast condo-style sale or a stubborn larger asset, can swing these percentages more than the underlying market has actually shifted.
Taken together, these four numbers describe a market where buyers currently have room to negotiate on price and timeline, while sellers who price realistically and prepare their property well can still find a buyer, just not as quickly or for as much as they might have a year ago.
Median Sold Price Down 24% Year Over Year
The median sold price for Austin multi family properties in August was $456,300, down 12.3% from July’s $520,000 and down 24% from $600,000 a year ago in August 2025.
Looking back over the past two years, the median sold price has swung between roughly $490,000 and $640,000, and August’s figure is now the lowest point on that entire chart. Some of this decline reflects genuinely softer pricing, and some of it reflects which specific properties happened to close: with only 19 to 20 sales in a given month, one or two lower-priced duplexes or triplexes closing alongside fewer larger assets can pull the median down meaningfully.
For anyone comparing this figure to the single-family or condo market, keep in mind that multi family pricing is driven heavily by unit count, condition, and whether a property is being purchased for owner-occupancy or as a straight investment. A buyer who has been priced out of the market for the past year now has meaningfully more room to negotiate than they did twelve months ago.
Number of Sold Properties Down 17.4% Year Over Year
Nineteen multi family properties sold in Austin in August, down 5% from July’s 20 sales and down 17.4% from the 23 that sold in August 2025.
Sold volume has bounced between roughly 11 and 27 properties a month over the past two years, so August’s count of 19 sits in the lower half of that typical range rather than at a historic low. Still, the year-over-year decline lines up with the broader slowdown showing up in price and days on market this month: fewer buyers are closing, and the ones who are closing are taking longer and paying less to do it.
For sellers, a smaller buyer pool means more competition for the buyers who are actively looking. Properties that are priced sharply and marketed well are more likely to be among the 19 to 20 that close each month rather than sitting on the sidelines.
Average Sold to List Price Up Slightly Year Over Year
Multi family sellers in Austin received 95.42% of their asking price on average in August, down slightly from 95.81% in July but up slightly from 94.87% a year ago in August 2025.
This ratio has been fairly stable over the past two years, generally holding between 92% and 97%, with August landing right in the middle of that band. The near-flat year-over-year comparison is worth sitting with: even as the median sold price and sales volume have both dropped meaningfully over the past twelve months, sellers who list at a realistic price are still closing within about 4 to 5% of their ask on average.
In practical terms, this tells you that Austin’s multi family slowdown is showing up mostly in fewer transactions and longer time on market rather than in dramatic price cuts once a property is actually under contract. Correct initial pricing continues to matter more than aggressive post-listing discounting.
Median Time to Sell Up 55.6% Year Over Year
The median multi family property in Austin took 70 days to sell in August, up 37.3% from July’s 51 days and up 55.6% from 45 days a year ago in August 2025.
This is one of the more volatile metrics in the multi family market, and the two-year chart shows why: median time to sell has spiked as high as 114 days and dropped as low as 13 days over the past two years, largely because a single slow-moving or unusual sale can shift the median when only 19 or 20 properties close in a month. August’s 70-day median is on the higher end of that range but not unprecedented. Because the multi family market has such a small transaction count each month, treat this percentage swing as directionally meaningful rather than as a precise measurement.
For sellers, the takeaway is simple: budget for a longer marketing period than you might have needed a year ago, and price accordingly from day one rather than testing the top of the market and adjusting later.
Median Price Per Square Foot Down 10.1% Year Over Year
The median price per square foot for Austin multi family properties was $250 in August, up 5% from July’s $238 but down 10.1% from $278 a year ago in August 2025.
The chart shows meaningful month-to-month volatility, with price per square foot swinging between roughly $215 and $292 over the past two years. August’s rebound off July’s low still leaves per-square-foot pricing well below where it stood a year ago, consistent with the broader pullback in median sold price this month.
For investors comparing multiple properties, price per square foot remains one of the more useful ways to normalize across different unit sizes and configurations, though it should be read alongside the overall sold price given how much month-to-month swing this segment shows.
Total Sales Volume Down 35.3% Year Over Year
Total multi family sales volume in Austin was $10,307,050 in August, down 7% from July’s $11.08 million and down 35.3% from $15.93 million a year ago in August 2025.
This figure is simply the combination of how many properties sold and at what price, so it is unsurprising that it fell given the declines in both the sold count and the median sold price this month. Over the past two years, monthly volume has ranged from roughly $6.5 million to nearly $19 million, and August’s $10.3 million sits toward the lower end of that range.
For sellers and their agents, this figure is a useful gut check on the overall size of the transaction pool right now. With less total capital changing hands, standing out among the properties buyers are actively considering matters more than it did a year ago.
Months Supply of Inventory Up 18.5% Year Over Year
Months supply of inventory for Austin multi family properties rose to 10.05 in August, down 3% from July’s 10.36 but up 18.5% from 8.48 a year ago in August 2025.
This is the metric that most directly explains why RPR classifies this as a buyer’s market. Inventory has climbed steadily since bottoming out around 5.6 months in early 2025, and it has held above 8 months for most of 2026. At just over 10 months of supply, it would take roughly ten months to sell through the current active inventory at August’s sales pace if no new listings were added.
For buyers, elevated months of supply is your clearest evidence of negotiating leverage: sellers are competing against more alternatives for a smaller pool of active buyers. For sellers, it means differentiation, whether through condition, pricing, or terms, matters more than it has in over a year.
New Pending Listings Down 39.4% Year Over Year
Twenty multi family properties went under contract in Austin in August, up 400% from July’s unusually low 4 pending listings but down 39.4% from the 33 recorded a year ago in August 2025.
This is the most volatile metric in this report, and July’s count of just 4 pending listings was itself an outlier low on the two-year chart, which otherwise ranges from about 13 to 35 in a typical month. Read in that context, August’s rebound to 20 looks less like a sudden surge in buyer demand and more like a return closer to normal after an unusually quiet July. The year-over-year comparison, down nearly 40%, is the more telling number and lines up with the broader cooling shown throughout this report.
Because pending listings lead closed sales by roughly 30 to 45 days, August’s pickup in contracts suggests September and October’s closed sales counts may improve modestly from August’s 19, even as the year-over-year trend remains soft.
Median Active List Price Essentially Unchanged Year Over Year
The median active list price for Austin multi family properties was $599,000 in August, up 0.3% from July’s $597,000 and essentially unchanged from $599,900 a year ago in August 2025.
Unlike the sold price, which has fallen sharply over the past year, sellers currently listing multi family properties have kept their asking prices remarkably steady, holding in a tight band between about $575,000 and $600,000 for most of the past year. That stability in list price alongside a 24% drop in median sold price tells you where the real negotiating is happening: at the offer table, not on the initial listing.
For sellers preparing to list, this gap between what properties are listed for and what they are actually selling for is worth discussing candidly with your agent before you set your number.
New Listings Up 8.8% Year Over Year
Thirty-seven new multi family listings hit the Austin market in August, down 40.3% from July’s 62 new listings but up 8.8% from 34 a year ago in August 2025.
New listings tend to be seasonal and can swing widely month to month, ranging from roughly 25 to 67 over the past two years. July’s spike to 62 was on the higher end of that range, so August’s pullback to 37 looks more like a reversion than a sign of sellers pulling back from the market altogether, particularly with new listings still running slightly ahead of where they were a year ago.
For sellers weighing when to list, fewer new competitors entering the market this month is a modest point in your favor, even as overall active inventory remains elevated from listings accumulated over prior months.
Active Listings Up 3.1% Year Over Year
There were 201 active multi family listings in Austin at the end of August, down 11.8% from July’s 228 but up 3.1% from 195 a year ago in August 2025.
Active inventory has followed a clear seasonal pattern over the past two years, climbing through spring and early summer before pulling back in the fall, and August’s dip to 201 fits that pattern. The modest year-over-year increase, just over 3%, is far smaller than the swings in months of supply, sold price, or sales volume, which tells you inventory levels themselves haven’t changed as dramatically as the pace of sales has.
For buyers, 201 active listings still represents a meaningful selection to choose from, especially paired with 10 months of supply. For sellers, it means your property is one of roughly 200 competing for a buyer pool that closed just 19 sales in August.
August 2026 Austin Multi Family Real Estate by the Numbers
The table below is pulled directly from the Austin Board of REALTORS MLS statistics for August 2026 and covers 20 closed multi family transactions (duplex, triplex, and quadplex) in the city of Austin. Note that this MLS count of 20 differs slightly from the 19 sold properties shown in the RPR chart above; small differences like this are common between the two data sources due to differences in reporting timing and methodology.
| Min | Max | Avg | Median | |
|---|---|---|---|---|
| Sq Ft | 1,539 | 3,481 | 2,083 | 1,902 |
| Lot Sq Ft | 6,098 | 25,313 | 9,594 | 8,366 |
| List Price | $259,900 | $1,095,000 | $558,553 | $499,250 |
| LP/Sq Ft | $158.19 | $464.57 | $268.80 | $262.58 |
| Acres | 0.14 | 0.581 | 0.220 | 0.192 |
| Close Price | $243,000 | $1,040,000 | $533,603 | $453,150 |
| CP/Sq Ft | $147.90 | $441.24 | $256.75 | $250.99 |
| CP/LP% | 83.00% | 102.00% | 95.00% | 96.00% |
| CP/OLP% | 68.00% | 102.00% | 89.95% | 89.50% |
| ADOM | 5 | 344 | 82 | 40 |
The most expensive multi family property that sold in August 2026 sold for $1,040,000 and the least expensive sold for $243,000. Properties ranged in size from 1,539 to 3,481 square feet with an average size of 2,083 square feet. The average price per square foot was $256.75 with the lowest being $147.90 per square foot and the highest being $441.24 per square foot. It took, on average, 82 days to sell a multi family property in Austin and sellers received, on average, 89.95% of their original list prices.
A closer look at CP/LP% versus CP/OLP% tells an important story: the 95% average CP/LP% against an 89.95% average CP/OLP% shows that sellers typically reduced their asking price before going under contract, then sold close to that reduced number. In other words, most of the negotiating happened before the offer stage, not during it. The 82-day average days on market, well above the median of 40 days, shows that a handful of properties sat considerably longer than typical and pulled the average upward; with only 20 transactions in the data set, one or two slow-moving listings can shift these averages more than they would in a larger sample like the single-family market. The wide list price range, from $259,900 to just over $1 million, reflects the mix of smaller duplexes and larger, higher-unit-count properties that make up Austin’s multi family inventory.
What This Means for Multi Family Buyers
If you have been priced out of Austin’s multi family market over the past year, August’s data suggests conditions are shifting in your favor. The median sold price of $456,300 is down 24% from a year ago and sits at its lowest point on the two-year chart, giving you meaningfully more purchasing power than you had last August.
The negotiating landscape also favors you right now. With 10.05 months of supply and sellers netting only about 90% of their original list price on average once you account for pre-contract reductions, there is real room to negotiate on both price and terms, not just on paper but in actual closed transactions.
Because most multi family buyers in Austin are purchasing for investment rather than personal use, it’s a good idea to run your numbers against current rents in the specific submarket you’re considering rather than against citywide averages. A lower purchase price paired with softer rent growth may not pencil out the same way it would have during a tighter market.
Given that new pending listings jumped from July’s unusually low count and new listings are running slightly ahead of last year, don’t assume today’s pricing will hold indefinitely if buyer activity continues to pick up into the fall. If a property fits your investment criteria at today’s numbers, there is little advantage to waiting on the assumption that conditions will keep softening.
What This Means for Multi Family Sellers
Demand softened in August: only 19 properties closed, down 17.4% from a year ago, and the ones that did sell took 70 days on average, well above last year’s pace. That doesn’t mean your property won’t sell, but it does mean you should plan for a longer marketing timeline than you might have needed twelve months ago.
You’re also competing against more alternatives than buyers had a year ago. With 201 active listings and 10 months of supply, buyers have real choices, and a property that isn’t priced or presented competitively is easy for them to pass over in favor of the next one.
The gap between the market’s average CP/LP% of 95% and average CP/OLP% of 89.95% is the clearest warning sign in this report: sellers who list too high end up cutting their price before they ever get an offer, then sell close to that reduced number anyway. In a smaller market like multi family, where only 19 to 20 properties close in a typical month, an overpriced listing doesn’t just sit, it actively works against you by extending your time on market and signaling to buyers that something may be off.
August’s rebound in new pending listings after July’s unusually quiet month is a modestly encouraging sign heading into fall, but it isn’t enough on its own to offset a year-over-year trend that still points toward a softer market. Price realistically from day one rather than testing a higher number and adjusting later.
Market Summary and Outlook
August was a clear step down for Austin’s multi family market. The median sold price fell to $456,300, its lowest point in two years, while time to sell jumped to 70 days and total sales volume dropped to just over $10.3 million. Only 19 properties changed hands, the fewest since a July count of 20 that itself was among the lower totals of the past year.
Compared to a year ago, nearly every major metric points the same direction: median sold price down 24%, sales volume down over 35%, sold count down 17.4%, and months of supply up 18.5%. The one exception is average sold-to-list price, which is essentially flat year over year, suggesting that sellers who price correctly from the outset are still closing near their asking price even as the overall market has softened around them.
The key variable to watch heading into fall is whether August’s rebound in new pending listings, up from July’s unusually low count, represents a genuine pickup in buyer demand or just a return to a more typical pace after an outlier month. If pending contracts continue climbing through September, expect closed sales counts to firm up even if pricing stays soft. If they fade back toward July’s levels, expect the current buyer’s market conditions to persist or deepen.
Austin’s underlying fundamentals, population growth, a diverse employment base, and continued in-migration to Central Texas, remain the long-term case for multi family investment here. But the data this month is a reminder that even a market with strong long-term fundamentals can see meaningful short-term softening, and the properties that perform best right now are the ones priced to reflect where the market actually is, not where it was a year ago.
Action Items for Multi Family Buyers
- Get pre-approved or confirm your financing capacity now so you can move quickly on a property priced to reflect August’s softer market, since well-priced listings can still attract competing offers.
- Run your rent and expense projections against current submarket data rather than citywide averages, since a lower purchase price doesn’t automatically mean a stronger return if rents in that specific area have also softened.
- Use the current 10.05 months of supply as leverage in negotiations, particularly on properties that have already been on the market longer than the 40-day median.
- Ask your agent to pull the original list price history on any property you’re considering, since the gap between CP/LP% and CP/OLP% shows many sellers have already cut their price once before you make an offer.
- Factor a longer closing and due diligence timeline into your planning given the jump in median time to sell, and build that into any timeline-sensitive financing or 1031 exchange deadlines.
- If a property meets your investment criteria at today’s pricing, move on it rather than waiting for further softening, since new pending listings picked up in August and could signal renewed competition from other buyers.
Action Items for Multi Family Sellers
- Price your listing based on August’s median sold price of $456,300 and recent comparable closings, not on where the market stood a year ago or on your neighbor’s asking price.
- Budget for a marketing timeline closer to 70 days rather than last year’s 45, and plan your carrying costs and any bridge financing accordingly.
- Get your property inspected and address any obvious condition issues before listing, since buyers have more alternatives right now and are less likely to overlook problems they can find elsewhere without them.
- Review your original list price strategy with your agent in light of the market’s 95% average CP/LP% against an 89.95% CP/OLP%, and consider pricing closer to where you expect to land rather than testing a higher number first.
- Highlight your income and expense documentation, rent rolls, and unit-level details clearly in your listing, since multi family buyers are evaluating your property as an investment first.
- Watch September’s pending contract activity as an early signal; if it continues climbing from August’s rebound, buyer demand may be stabilizing and could support a slightly firmer negotiating position than you have today.
Final Word on the Market
August rewarded sellers who priced realistically and buyers who were ready to move on well-positioned properties. It was a tougher month for sellers testing higher price points or hoping to replicate last year’s numbers, and a more forgiving one for buyers willing to negotiate.
The numbers this month tell an honest story: prices are down meaningfully, time on market is up, and buyers currently have more leverage across the Austin multi family market than they’ve had in some time. That doesn’t make this a bad time to buy or sell on its own. It makes this a market where the fundamentals of pricing, condition, and preparation matter more than they did during the tighter conditions of the past few years.
Whether you’re weighing a purchase or considering a listing, let the data guide your decision rather than last year’s numbers or general market sentiment. The right move depends on your specific investment goals, timeline, and financial situation, and we’re here to help you think through what August’s numbers mean for your particular property or purchase.
Questions About the August 2026 Austin Multi Family Real Estate Price Report?
Have questions about what the August 2026 Austin Multi Family Real Estate Price Report means for your specific situation? We are happy to help. If you are thinking about buying a multi family property in Austin, our Buyers page has resources to help you understand the process and get started. If you are thinking about selling, our Sellers page walks through what to expect in today’s market.
Reach out to Rebecca Jacks and the team at Eleven Oaks Realty. Call or text (512) 827-8323 or email info@11OaksRealty.com. We have been helping buyers and sellers since 1978 and we are here to help you make the best decision for your situation, whatever that looks like.
Data sources: Realtors Property Resource (RPR), Austin Board of REALTORS MLS. All figures are for multi family residential properties (duplex, triplex, and quadplex) in the city of Austin. Reported figures reflect August 1, 2026 through August 31, 2026. Some variation between data sources may exist due to differing methodology and timing of data pulls.
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