July 2026 Austin Multi Family Real Estate Price Report

Eleven Oaks Realty is proud to present their July 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 July 2026.

July 2026 brought a split story for Austin’s multi family market: median sold prices climbed 7.7% from June to $520,000, offering a bit of price recovery after a soft spring, but the broader picture shows continued pressure, with only 18 properties closing hands and total sales volume falling to $10.1 million, down more than 39% compared to July 2025. At 9.13 months of supply, Austin’s multi family market remained firmly in buyer’s territory, and the 54-day median time to sell, nearly 46% higher than June, tells you buyers are not in any rush. The market rewarded patient buyers and tested sellers throughout the month.

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’s market gauge for Austin’s multi family segment landed squarely in buyer’s market territory in July 2026, reflecting 9.13 months of available supply. A balanced market sits between roughly four and six months; anything above six signals that buyers have more negotiating room, more properties to choose from, and less urgency to move quickly. At more than nine months of supply, the Austin multi family market gave buyers a clear structural advantage heading into late summer.

The four key metrics on the dashboard reinforce that read. Median sold price came in at $520,000, up 7.66% month over month, while sold to list price nudged up 1.19% to 95.8%. Those two figures are encouraging, suggesting the properties that did close in July moved at better terms than June. The counterbalance: median days in RPR jumped to 54, a 45.95% surge from June, meaning most sellers had to wait considerably longer to find a buyer. Months of inventory itself ticked up 3.99% from June, compounding the supply pressure rather than easing it.

The overall picture for July is a market where prices can still trade near asking when a property is priced right and presented well, but where the pace has slowed meaningfully. For buyers, this is an environment worth engaging actively. For sellers, strategy and patience are both required.

Median Sold Price Down 4.7% Year Over Year

Austin’s median multi family sold price came in at $520,000 in July 2026, up 7.7% from June’s $483,000 but down 4.7% from July 2025’s $545,560.

The two-year chart tells the fuller story. Prices have traced a wide, volatile path since mid-2024, swinging between roughly $480,000 and $640,000 depending on the month. That volatility is a defining characteristic of the multi family segment: when only 18 to 25 properties close in a given month, one or two higher- or lower-priced transactions can meaningfully move the median. The July 2026 reading of $520,000 sits at the lower end of the range the market has occupied over the past 12 months, even with the month-over-month improvement.

What does this mean in practical terms? Buyers who were looking at Austin multi family properties a year ago are now seeing median entry points roughly $25,000 lower. That is not a dramatic discount, but in an investment context where cap rates, rental income, and carrying costs all factor into the decision, a 4.7% reduction in purchase price does move the needle on returns. Sellers, on the other hand, should not expect the price recovery seen from June to July to continue automatically; it will depend heavily on how many transactions close in August and whether any outlier sales skew the median.

Number of Sold Properties Down 18.2% Year Over Year

18 multi family properties sold in Austin in July 2026 according to RPR, down 14.3% from 21 in June and down 18.2% from 22 in July 2025. The Austin Board of REALTORS MLS recorded 19 closed transactions for the same period; the one-property difference reflects typical timing and methodology variation between the two data sources.

Looking at the two-year chart, July’s close count is on the lower end of the range the market has seen since 2024. Transaction volumes have generally run between 11 and 27 per month, and 18 is below the midpoint of that band. It is a reminder that the Austin multi family market operates on thin transaction volume at the best of times, and small changes in monthly counts can produce large percentage swings that may not reflect a true directional shift.

For buyers, a lower close count means fewer comparable sales to anchor pricing analysis, which can make negotiation harder. For sellers, fewer closings mean fewer chances for a well-priced property to find its buyer in a given month. If your property is sitting, the issue is likely not the market overall but rather price positioning relative to what buyers are actually willing to pay right now.

Average Sold to List Price Up 3.7% Year Over Year

The average sold to list price ratio came in at 95.79% in July 2026, up 1.2% from June’s 94.66% and up 3.7% from July 2025’s 92.36%.

The two-year chart shows this metric has been trending in a constructive direction after hitting a low around 92.3% in mid-2025, which was the weakest point for seller pricing power in the period shown. Since then, the trend has recovered gradually, and July 2026’s 95.79% is near the higher end of recent readings. The implication: sellers who are pricing their properties accurately are getting closer to their asking price than they were a year ago.

It is important to pair this figure with the MLS data, which shows the average CP/OLP (close price to original list price) at 93.74%, compared to the CP/LP (close price to current list price) of 95.89%. The gap between those two numbers, roughly two percentage points, means sellers who had to reduce their price before going under contract still ultimately sold close to their reduced ask, but not to where they started. For buyers, this confirms there is real room to negotiate from original list prices, and sellers should factor in that buyers are aware of that dynamic.

Median Time to Sell Up 45.9% Year Over Year

Austin multi family properties took a median of 54 days to sell in July 2026, up 45.9% from both June’s 37 days and July 2025’s 37 days.

The two-year chart for this metric shows pronounced volatility, ranging from as few as 14 days in early 2025 to a spike above 110 days around January 2026. July’s 54-day reading is elevated relative to the recent trend and signals that buyers are moving at a measured pace rather than racing to beat out competition. Because multi family transaction volume is small, one or two properties that sat on the market for several months can pull the median up meaningfully, so a single month’s reading should be interpreted with that context in mind.

For buyers, the longer time-to-sell is genuinely useful leverage. Properties that have been on the market for 45 days or more are often priced above where the market is willing to meet a seller today, and those are exactly the situations where a well-reasoned offer below asking has a realistic chance of being accepted. For sellers, 54 days is a clear signal to pressure-test your pricing before listing, not after a month or two of no offers.

Median Price Per Square Foot Down 7.3% Year Over Year

The median price per square foot for Austin multi family properties sold in July 2026 was $229, up 5% from June’s $218 but down 7.3% from July 2025’s $247.

The two-year chart shows that price per square foot has trended gradually lower since a peak near $290 in mid-2024. The current $229 per square foot is at the low end of the range the metric has occupied over the past two years, which means buyers are getting more square footage per dollar than they were at the market’s recent high. For an investment buyer who is modeling rental income against acquisition cost, that per-square-foot compression matters, as it can improve returns on properties where rent per square foot is holding up better than sale price per square foot.

The month-over-month recovery from $218 to $229 is encouraging but follows a steep two-month decline. Whether July’s reading marks a floor or simply a bounce within a longer downtrend will depend on how August shapes up. Either way, at $229 per square foot median, buyers are closer to 2024-level pricing than they are to any multi-year high.

Total Sales Volume Down 39.4% Year Over Year

Total multi family sales volume in Austin reached $10,088,500 in July 2026, down 15.7% from June’s approximately $11.97 million and down 39.4% from July 2025’s $16.66 million.

The two-year chart for total sales volume shows the market operating in a wide band, from a low around $6.5 million in early 2025 to a high near $18 million in late 2024. July 2026’s $10.1 million is at the lower-middle portion of that range. The year-over-year decline of nearly 40% is the most striking figure in this section, and it reflects two forces working together: fewer properties sold (18 versus 22 a year ago) and lower prices per transaction. When both volume and per-unit price decline simultaneously, total dollar volume takes the compounded hit.

For investors tracking this market, the volume decline is worth watching but should not be interpreted as a collapse. Thinner months in the multi family space can be caused by seasonal factors, short-term changes in buyer confidence, or simply timing of when listings hit the market. August and September will provide clearer data on whether July’s low volume was an anomaly or a continuing trend.

Months Supply of Inventory Down 9.5% Year Over Year

Months supply of inventory for Austin multi family properties stood at 9.13 in July 2026, up 4% from June’s 8.78 and down 9.5% from July 2025’s 10.09.

The two-year chart tells an interesting structural story. Inventory supply peaked above 10 months around mid-2025, compressed significantly through late 2025 and into early 2026, and has now started climbing again over the past few months. The current level of 9.13 is well into buyer’s market territory, but the year-over-year decline of 9.5% shows the market has made genuine progress from its most oversupplied point. That said, at 9 months of supply, sellers are still negotiating from a position of disadvantage.

The direction of this metric going forward matters more than any single reading. If supply continues to rise through summer and into fall, buyers will have an increasingly strong negotiating position. If new listings slow (which is possible given the overall pace) and buyer demand holds steady, months of supply could stabilize or even dip, which would modestly shift the balance back toward sellers.

New Pending Listings Down 32% Year Over Year

17 multi family properties went under contract in Austin in July 2026, unchanged from June but down 32% from July 2025’s 25.

The two-year chart for pending listings shows a pattern of peaks and valleys, with the metric running between roughly 13 and 35 per month over the period shown. July’s reading of 17 is on the lower end of that range. The year-over-year drop from 25 to 17 pending contracts is one of the more telling demand signals in this report: fewer buyers are pulling the trigger compared to a year ago, even though there are more properties available to choose from.

For sellers, a lower pending count means the pool of active buyers in the market is smaller than it was. In a thin market like Austin multi family, where the total universe of buyers for any given property is limited to begin with, that contraction deserves attention. Pricing is the most direct lever sellers have to generate more interest. For buyers, 17 pending contracts against 210 active listings means the competition for any individual property is genuinely low right now.

Median Active List Price Down 2.1% Year Over Year

The median active list price for Austin multi family properties was $587,450 in July 2026, down 1.9% from June’s $599,000 and down 2.1% from July 2025’s $599,900.

The two-year chart for this metric is one of the most revealing in the data set. Median active list prices have declined fairly steadily from nearly $700,000 in August 2024 to the current $587,450, a drop of roughly $112,000 over two years. That long-term compression reflects sellers gradually adjusting their expectations to meet a market that has not been willing to pay 2024 prices. The current median active list price of $587,450 sits $67,450 above the median sold price of $520,000 from RPR, suggesting the gap between what sellers are asking and what buyers are paying remains meaningful.

That spread between active list and recent sold prices is worth watching. When the gap is large, it either means sellers are overpriced relative to the market, or it means the properties currently active are genuinely different (larger, better located, or better condition) than what sold in July. The truth is usually some of both, and the most useful thing a seller can do is model their asking price against actual recent sales, not against what other sellers are currently asking.

New Listings Up 13.2% Year Over Year

60 new multi family listings came to market in Austin in July 2026, down 3.2% from June’s 62 but up 13.2% from July 2025’s 53.

The two-year chart shows new listing activity recovering from a low point in late 2025, when monthly new listings dropped to around 25. The current pace of 60 new listings per month is near the highest level of new inventory the market has seen over the charted period. More supply entering the market consistently, without a proportional increase in buyer demand, is what has kept inventory supply above 9 months.

For buyers, the strong flow of new listings means you are unlikely to feel pressure from inventory scarcity. There are new options entering the market regularly, and there is no structural reason to rush a purchase decision unless a specific property checks every box. For sellers, the volume of new competition hitting the market each month means your listing needs to stand out on both price and presentation from day one, because buyers are choosing from a well-stocked pool.

Active Listings Down 5.4% Year Over Year

Active multi family listings in Austin totaled 210 in July 2026, up 4% from June’s 202 and down 5.4% from July 2025’s 222.

The two-year chart shows active listings reaching a peak around 220 in mid-2025, declining through late 2025 and into early 2026, and now climbing back toward that high. At 210 active listings, the market offers buyers a broad and deep pool to choose from. The year-over-year decline of 5.4% is modest and does not meaningfully alter the buyer-friendly character of the current market.

What is particularly notable is the combination of 210 active listings against only 17 new pending contracts per month. That ratio implies it would take more than a year at the current absorption pace to work through existing inventory, which is consistent with the 9.13 months of supply reading and confirms that this remains a market where buyers hold the cards on timing and price.

July 2026 Austin Multi Family Real Estate by the Numbers

The table below is pulled directly from the Austin Board of REALTORS MLS statistics for July 2026 and covers 19 closed multi family transactions (duplex, triplex, and quadplex) in the city of Austin. RPR recorded 18 sold properties for the same period; the one-property difference reflects standard variation in data timing and methodology between the two systems.

The most expensive multi family property that sold in July 2026 sold for $825,000 and the least expensive sold for $280,000. Properties ranged in size from 1,260 to 3,870 square feet with an average size of 2,317 square feet. The average price per square foot was $248.77 with the lowest being $84.94 per square foot and the highest being $407.38 per square foot. It took, on average, 50 days to sell a multi family property in Austin and sellers received, on average, 93.74% of their original list prices.

The gap between average close price ($546,711) and median close price ($510,000) deserves a brief note. That $36,711 spread suggests a small number of higher-priced transactions are pulling the average up, which is common in a month with only 19 closings. The median is the more representative figure for understanding what a typical multi family transaction looked like in July.

The CP/OLP average of 93.74% versus the CP/LP average of 95.89% confirms a pattern that sellers should take seriously. The two-point gap means sellers who started too high had to reduce their price before going under contract, and even after reducing, they still ended up a couple of percentage points below where they started. The minimum CP/OLP of 57% is a stark outlier worth noting: one property sold for 57 cents on the original listed dollar, likely after a series of reductions, which speaks directly to the cost of overpricing in a thin market. Because there are so few buyers at any price point in multi family, a mispriced listing can sit for months before finding a buyer willing to negotiate significantly.

What This Means for Multi Family Buyers

Buyers in the Austin multi family market right now are operating in genuinely favorable conditions that have not existed in this form in recent memory. At a median sold price of $520,000, you are entering the market roughly $25,000 below where prices stood a year ago and well below the peaks this market saw in 2024. At $229 per square foot median, you are getting more building for your dollar than at almost any point in the past two years.

The negotiating landscape is particularly interesting. The average CP/OLP of 93.74% tells you that sellers who started too high ended up at 93.74 cents on the dollar. Combined with 9.13 months of supply and a median 54 days on market, this is not a market where you need to preemptively bid above asking or waive due diligence. Sellers are working to find you, not the other way around. If a property has been sitting for more than 45 days, that is an invitation to open a conversation at a meaningful discount from the listed price.

For investment-oriented buyers, the current environment also warrants a close look at income potential. The combination of lower acquisition prices and a market where sellers are motivated creates an opportunity to buy at a basis that gives your investment some cushion against future price softness. The key is to underwrite the rental income conservatively, given that Austin’s broader rental market has seen supply increases in recent years. Do not model your purchase on peak rents; model it on what the property can realistically generate today.

The near-term trajectory for this market suggests conditions are unlikely to shift dramatically against buyers before year end. New listings are running at 60 per month with only 17 going under contract, which means supply is not being absorbed at a pace that will tighten inventory quickly. If you have the financial readiness to move, the window of buyer advantage is open right now.

What This Means for Multi Family Sellers

The demand signal coming from the July 2026 data is clear and deserves an honest read. With only 17 properties going under contract against 210 active listings, the pool of buyers actively moving forward is thin. At current absorption rates, it would take more than a year to move through available inventory. That context does not mean your property cannot sell, but it does mean the terms, timeline, and pricing strategy need to reflect reality.

Competition among sellers is real and growing. With 210 active listings on the market and 60 new listings arriving each month, your property is one of many options buyers are evaluating simultaneously. Buyers who are not in a rush, and most are not given the 54-day median time to sell, have every reason to compare multiple properties carefully before making an offer. To stand out in that environment, your property needs to be the best value option in its price range, not just a reasonable option.

Pricing discipline is where sellers most commonly lose ground in this market. The CP/OLP average of 93.74% is a direct measure of what happens when a property launches too high. Each price reduction signals to the market that the seller is motivated but also that there may be a reason the property is not selling, whether that is accurate or not. In a market with only a handful of transactions per month, a price reduction that generates buzz is better than a high launch price that generates silence. Sellers who price accurately from the start tend to close faster and closer to their asking price.

The trend data does not yet suggest conditions are about to flip meaningfully in sellers’ favor. Months of supply is climbing again after briefly compressing earlier in 2026, and new listing volume remains strong. If you need to sell in the near term, the most productive thing you can do is get the pricing right before you list and prepare the property to show exceptionally well. The buyers who are active in this market are doing their homework, and a well-priced, well-presented property will find a buyer.

Market Summary and Outlook

July 2026 was a month of mixed signals for Austin’s multi family market. The median sold price rebounded 7.7% from June, which is the most obviously positive data point in the report, but that gain came alongside declining transaction volume, a sharp increase in median days to sell, and a year-over-year sold count that was 18% lower than July 2025. The market did not improve across the board; prices recovered while activity softened further. The properties that sold in July closed at better terms than June, but fewer of them sold.

The year-over-year picture is sobering on several metrics. Total sales volume fell 39.4% compared to July 2025. Median sold price is down 4.7%. Price per square foot is down 7.3%. New pending contracts are running 32% below last year’s pace. Those are not small numbers, and they confirm that the Austin multi family market is operating at a meaningfully lower activity level than it was in the summer of 2025. The positive counterpoint is that sold to list price ratios have improved 3.7% year over year, and months of supply (at 9.13) is actually lower than it was a year ago (10.09), suggesting the market may have passed its most oversupplied moment.

The key variable for the coming months is the balance between the steady flow of new listings and the pace of buyer demand. With 60 new listings per month and only 17 going pending, the math is not yet moving in sellers’ favor. For conditions to improve for sellers, either demand needs to accelerate meaningfully or new listing volume needs to contract. An improvement in interest rate conditions for investment properties, which tend to be financed differently than owner-occupied homes, could be a catalyst if it materializes. Until then, the structural balance clearly favors buyers.

Austin remains a compelling long-term multi family investment market based on its population trends, economic diversity, and employment base. The current buyer’s market conditions reflect a cyclical adjustment, not a structural breakdown. For investors with a long time horizon who can underwrite a purchase at today’s prices with conservative income assumptions, the current environment offers a rare chance to enter the market at terms that have not been available since before the 2022-2024 run-up.

Action Items for Multi Family Buyers

• Use the 54-day median time to sell as a starting point for identifying motivated sellers; any property that has been on the market for 60 days or more is likely to receive serious attention on a well-reasoned offer below asking price.

• Anchor your offer analysis to the CP/OLP average of 93.74%, which confirms that sellers who overprice routinely end up selling at roughly 94 cents on the original dollar; use that as a floor, not a ceiling, for your opening negotiation position on overpriced listings.

• Model your investment underwriting at today’s rental rates or slightly below, not at peak rents from 2023 or 2024; the Austin rental market has seen supply increases that make conservative income assumptions essential for protecting your returns.

• Take advantage of the 210 active listings to be genuinely selective; with more than a year’s worth of inventory at current absorption rates, you have no structural reason to rush, and comparing at least five to seven properties in your price range before offering will sharpen your valuation instincts.

• Pay attention to price per square foot when comparing properties; the market’s $229 per square foot median can vary significantly by unit type and location, and a property offering 2,000 square feet at $200 per square foot may be substantially better value than the same size at $280.

• Get your financing pre-approved and in order before you begin serious negotiations; sellers in this market are still evaluating offers carefully, and a buyer who can close quickly and cleanly has a genuine advantage over one who cannot.

Action Items for Multi Family Sellers

• Price your property at or slightly below the market median before you list, not above it; the CP/OLP average of 93.74% and the 54-day median time to sell both confirm that overpriced properties sit, and each week on market works against your negotiating position.

• Study the active listings in your price range carefully before listing; with 210 properties competing for only 17 buyers per month, your property needs to offer a clear reason for a buyer to choose it over the alternatives, whether that is price, condition, unit mix, or income potential.

• If your property has been on the market for more than 30 days without an offer, treat that as a pricing signal, not a patience test; reducing your price proactively while buyer interest is still possible to generate is more effective than waiting until the listing goes stale.

• Prepare documentation on current rents and lease terms before listing; multi family buyers in Austin are investors who will evaluate your property on its income potential, and having clean, organized rental data available speeds up due diligence and increases buyer confidence.

• Consider the CP/OLP gap carefully when setting your original list price; sellers in July 2026 received 93.74% of their original asking price on average, meaning the market effectively discounted 6.26% from the opening ask before a deal was reached, so your list price should already reflect that reality.

• Watch the new listing volume closely; with 60 new properties entering the market each month, every week you are not under contract is a week where more competition appears, which makes momentum-based pricing decisions more valuable than a patient hold at an aspirational number.

Final Word on the Market

July 2026’s Austin multi family market rewarded sellers who had priced their properties accurately and punished those who had not. The 54-day median time to sell, the 93.74% average CP/OLP, and the 39.4% year-over-year decline in total sales volume all tell the same story: buyers are informed, patient, and have plenty of alternatives. The properties that moved in July were the ones priced to meet the market, not priced to test it.

The numbers collectively say this: for buyers, this is a genuinely good time to be in the market. You have leverage, selection, and time on your side. The median sold price of $520,000 is 4.7% below last year, and at 9.13 months of supply, you are not fighting for inventory. The challenge is not finding a property; it is doing the income and expense analysis rigorously enough to make sure the one you choose will perform the way you need it to. For sellers, the honest read is that the market will meet you, but only at a price that reflects the buyer’s alternatives. The days of above-asking sales and waived contingencies are not what this market is delivering right now.

The data is your guide here. If you are an investor who can buy at today’s prices with today’s rents and still make the math work, Austin multi family is worth a serious look. If you are a seller who needs to hit a particular number that the market is not currently supporting, the most useful thing you can do is understand that gap clearly before you list. Whatever direction you are moving, make the decision based on what the numbers say, not on what you hope conditions will become.

Questions About the July 2026 Austin Multi Family Real Estate Price Report?

Have questions about what the July 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 July 1, 2026 through July 31, 2026. Some variation between data sources may exist due to differing methodology and timing of data pulls.