Eleven Oaks Realty is proud to present their March 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 March 2026.
March brought a significant rebound in activity after a slow February. Closed sales jumped from 13 to 22, a 69.2% month-over-month increase, while total dollar volume climbed from $7.95 million to $14.35 million. The median sold price rose to $557,500, up 6.2% from February, and up a notable 13.8% compared to March 2025, marking one of the stronger year-over-year price gains this market has seen in recent months.
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 placed the Austin multi family market firmly in Buyer’s Market territory in March 2026, with 6.64 months of inventory on hand. A balanced market is generally considered to fall between four and six months of supply, and anything above that threshold favors buyers, giving them more choices and more time to make decisions. At 6.64 months, sellers are competing for a smaller pool of qualified buyers, which puts downward pressure on negotiating leverage even as median prices trend higher year over year.
The four key metrics on the dashboard tell a nuanced story. Months of inventory edged up 1.07% from February, reinforcing the buyer-favorable supply environment. The sold-to-list price percentage came in at 96.1%, rising 2.02% month over month, a positive signal that buyers are closing closer to asking price than they were in February, though still not at or above list. Median days in RPR climbed sharply to 65, up 32.65% from last month, meaning properties are sitting longer on average before going under contract. The median sold price of $557,500, up 6.2% from February, was the bright spot for sellers.
Taken together, the March 2026 market presents a mixed picture. Prices are moving up year over year, activity picked up significantly from February’s slow pace, and buyers are closing somewhat closer to asking price. At the same time, inventory remains elevated above the balanced threshold, days on market are long, and sellers are still accepting meaningful discounts from their original list prices. Buyers have options; sellers have to price carefully to compete.
Median Sold Price Up 13.8% Year Over Year
The median sold price for Austin multi family properties in March 2026 was $557,500, up 6.2% from February’s $525,000 and up 13.8% compared to March 2025’s $489,900.
Looking at the two-year chart, the median sold price has followed a somewhat volatile path, characteristic of the multi family market’s smaller transaction volume, with values ranging roughly between $480,000 and $640,000 over the period. March 2026 sits in the middle of that range, not at the highs of the past two years, but well above the lows and showing a clear upward move from last month’s trough.
For buyers, the 13.8% year-over-year increase is meaningful context: the cost of entry into Austin’s multi family market has risen by roughly $67,600 compared to the same time last year. That said, prices remain below the upper range seen in mid-2024, suggesting the market has not fully recovered to its peak. For sellers, the positive price trend provides some confidence, but the gap between list and sold prices indicates that buyers are not simply paying whatever is asked.
Number of Sold Properties Down 12% Year Over Year
Twenty-two multi family properties closed in Austin in March 2026, up 69.2% from February’s 13 closings, but down 12% from the 25 closings recorded in March 2025.
The two-year sales trend shows volume that has generally ranged between 10 and 40 transactions per month, with a peak in the mid-30s during mid-2024 and more recent months running at the lower end of that range. February 2026 was one of the slowest months in the chart window, so while March’s bounce to 22 is encouraging, the year-over-year comparison tells a more sobering story: demand has not yet returned to where it was twelve months ago.
For buyers, lower transaction volume means less competition from other buyers in any given month. For sellers, it means the pool of qualified, motivated buyers is thinner than it was a year ago, and pricing strategy matters more than ever. A property that is priced well and shows correctly can still sell in this market, but the data suggests there is no longer a wave of buyers absorbing inventory at any price.
Average Sold to List Price Up 1.1% Year Over Year
The average sold-to-list price percentage in March 2026 was 96.05%, up 2% from February’s 94.15% and up 1.1% compared to the 94.96% recorded in March 2025.
The chart shows this metric has traded in a fairly consistent band between roughly 92% and 98% over the past two years. March 2026’s 96.05% is on the stronger end of that range, reflecting the improved sales pace this month and buyers closing at prices closer to what sellers are asking.
A 96.05% sold-to-list ratio means that, on average, buyers are paying about 3.95% below the final list price. That translates to roughly $22,000 in negotiating room on a $557,500 property, real money for buyers watching their numbers carefully. Sellers should take note: pricing right the first time shortens the negotiating gap and improves outcomes. Properties that require price reductions typically end up conceding more than those that enter the market at the right price from day one.
Median Time to Sell Up 195.5% Year Over Year
The median time to sell a multi family property in Austin was 65 days in March 2026, up 32.7% from February’s 49 days, and up 195.5% from March 2025’s 22 days.
A jump of this magnitude in the year-over-year figure is striking, and it is worth acknowledging directly: the multi family market in Austin involves a relatively small number of transactions each month. When only 22 properties close in a given month, the median days-on-market figure can shift dramatically based on the mix of properties that happened to sell that month. The 195.5% increase almost certainly reflects a combination of genuinely longer market times and the statistical amplification that comes with a thin transaction pool.
That said, the chart trend over two years is clear: properties are taking longer to sell than they did in early-to-mid 2024. The sustained upward drift in this metric over the past year is consistent with a buyer’s market where buyers have more options and take more time to evaluate them. For sellers, 65 days is a long time for capital to sit undeployed, and pricing strategy and property condition become critical factors in reducing time on market.
Median Price Per Square Foot Up 7.3% Year Over Year
The median price per square foot for Austin multi family properties in March 2026 was $249, down 2% from February’s $254, but up 7.3% from March 2025’s $232.
The two-year chart for this metric shows considerable volatility month to month, ranging from roughly $220 to over $280 per square foot, again reflecting the sensitivity of median calculations to the specific mix of properties that transact in any given month. The $249 figure for March sits near the middle of that two-year range, pulling back slightly from February but holding well above the $232 level of a year ago.
For buyers evaluating investment potential, the year-over-year increase in price per square foot is a meaningful data point. Multi family properties in Austin are generating more per square foot than they were twelve months ago, which in theory supports rental income assumptions for investors underwriting acquisitions. For sellers, the 7.3% improvement in per-square-foot value compared to last year is a positive backdrop, though the month-over-month dip is a reminder that individual results depend heavily on property size, condition, and location.
Total Sales Volume Up 1.8% Year Over Year
Total multi family sales volume in Austin reached $14,353,400 in March 2026, up 80.5% from February’s $7,950,000 and up 1.8% compared to March 2025’s $14,100,000.
The volume chart over the past two years shows a wide range, from peaks near $25–30 million in mid-2024 down to the recent February trough. March’s return to the $14 million level reflects the rebound in transaction count, as more closings mean more aggregate dollars changing hands.
The 1.8% year-over-year gain in total volume is modest, and it masks an interesting dynamic: fewer properties sold (22 versus 25 a year ago), but at higher prices, which kept overall dollar volume roughly flat year over year. This is a pattern worth watching. If transaction volume continues to lag while prices hold or rise, it could signal a market that is moving less on price discovery and more on the decisions of motivated buyers and sellers on both ends of the spectrum.
Months Supply of Inventory Down 4% Year Over Year
The months supply of inventory for Austin multi family properties was 6.64 in March 2026, up 1.1% from February’s 6.57, and down 4% from March 2025’s 6.92.
The chart shows that inventory peaked in mid-2025 at around 9–10 months of supply before declining steadily through the end of the year and into early 2026. The current 6.64 reading is the lowest the metric has been in roughly a year, which is directionally positive for sellers. However, it still sits above the six-month threshold that defines a balanced market, meaning conditions have not yet shifted in sellers’ favor.
The year-over-year decline is encouraging from a market-health standpoint. Absorption is gradually improving, which should over time reduce the oversupply that has characterized the Austin multi family market for much of the past eighteen months. If the downward trend in inventory continues through spring and summer 2026, sellers could find themselves in a more competitive environment heading into late year.
New Pending Listings Up 23.8% Year Over Year
Twenty-six multi family properties went under contract in Austin in March 2026, up 44.4% from February’s 18 and up 23.8% from March 2025’s 21.
New pending contracts are one of the best leading indicators of near-term closed sales, since contracts signed in March typically close in April or May. The 26 pending listings in March is a solid number relative to the past twelve months, suggesting that buyer activity is picking up heading into spring.
The year-over-year improvement of nearly 24% is particularly encouraging given that closed sales were actually down 12% compared to March 2025. It suggests that the pipeline is rebuilding. If this level of contract activity holds or improves, April and May closed sales should show stronger year-over-year comparisons than what March delivered. For sellers currently on the market, this is a genuine positive signal.
Median Active List Price Down 5.7% Year Over Year
The median active list price for Austin multi family properties in March 2026 was $599,000, up 3.7% from February’s $577,500, but down 5.7% from March 2025’s $635,000.
The two-year chart tells a clear story: active list prices have been trending steadily downward from a peak near $700,000 or above in mid-2024 to the current $599,000 range. Sellers have been gradually adjusting their expectations to meet the market, and that process appears to still be underway.
At $599,000 active list price versus a $557,500 median sold price, the gap between what sellers are asking and what buyers are paying is roughly $41,500, or about 6.9%. That is a meaningful spread, and it tells buyers that there is room to negotiate in the current market. For sellers pricing new listings, the data suggests that entering at or just below the current median list price gives the best chance of attracting the serious buyer pool rather than sitting and waiting for a buyer willing to pay a premium that the broader market has not been supporting.
New Listings Down 11.5% Year Over Year
Fifty-four new multi family listings came to market in Austin in March 2026, up 31.7% from February’s 41, but down 11.5% from March 2025’s 61.
New listings are the supply side of the equation. The 31.7% month-over-month increase from February reflects the typical seasonal pickup in spring listing activity, as sellers who were waiting out the winter months bring properties to market. However, the 11.5% decline compared to a year ago is a meaningful shift; fewer new listings entering the market means slightly less competition for active sellers and slightly fewer options for buyers.
Combined with the 23.8% increase in new pending contracts, March 2026 shows demand growing faster than supply on a year-over-year basis. That is the kind of dynamic that, sustained over several months, tends to tighten inventory and shift the balance of power gradually back toward sellers. The trend is worth watching closely in April and May.
Active Listings Down 12% Year Over Year
There were 146 active multi family listings in Austin at the close of March 2026, up 5.8% from February’s 138, but down 12% from March 2025’s 166.
The chart shows that active inventory peaked at or above 200 properties in mid-2025 before declining through the second half of the year. The current 146 is the lowest the market has been in at least a year, which reflects both better absorption of existing inventory and the year-over-year decline in new listings noted above.
Despite being at a twelve-month low, 146 active listings still represents meaningful competition for sellers. At the current pace of 22 closings per month, there are more than six months of supply, consistent with the months-of-inventory figure. The positive story is the direction: inventory is falling, and if March’s pace of pending contracts (26) holds, the absorption rate should continue to improve. Sellers who need to move quickly should price for the market as it is today; those with flexibility may benefit from waiting if the current supply-demand trend continues.
March 2026 Austin Multi Family Real Estate by the Numbers
The table below is pulled directly from the Austin Board of REALTORS MLS statistics for March 2026 and covers 21 closed multi family transactions (duplex, triplex, and quadplex) in the city of Austin. (RPR reports 22 closed sales for the same period; a difference of one transaction between data sources is common due to timing and methodology differences.)
| Min | Max | Avg | Median | |
|---|---|---|---|---|
| Sq Ft | 1,440 | 4,589 | 2,447 | 2,126 |
| Lot SF | 6,360 | 17,119 | 9,222 | 8,093 |
| Acres | 0.146 | 0.393 | 0.212 | 0.186 |
| List Price | $350,000 | $2,200,000 | $648,133 | $549,000 |
| LP/Sq Ft | $118.23 | $479.41 | $264.09 | $262.86 |
| Close Price | $343,000 | $2,050,000 | $623,971 | $535,000 |
| CP/Sq Ft | $117.00 | $446.72 | $254.00 | $236.99 |
| CP/LP% | 88.00% | 102.00% | 96.33% | 97.00% |
| CP/OLP% | 76.00% | 104.00% | 92.33% | 95.00% |
| ADOM | 0 | 275 | 68 | 37 |
The most expensive multi family property that sold in March 2026 sold for $2,050,000 and the least expensive sold for $343,000. Properties ranged in size from 1,440 to 4,589 square feet with an average size of 2,447 square feet. The average price per square foot was $254.00, with the lowest being $117.00 per square foot and the highest being $446.72 per square foot. It took, on average, 68 days to sell a multi family property in Austin, and sellers received, on average, 92.33% of their original list prices.
The gap between the average close price ($623,971) and the median close price ($535,000) is worth examining. A spread of nearly $89,000 between those two figures signals the presence of at least one high-end outlier pulling the average upward. The property that closed at $2,050,000 (the most expensive transaction of the month) almost certainly accounts for most of that distortion. In a market where only 21 properties trade hands, a single large transaction can meaningfully shift the averages, which is why the median figures are generally the more reliable benchmark for evaluating typical market conditions.
The CP/OLP% data tells an important story for sellers. On average, buyers paid only 92.33% of the original list price, compared to 96.33% of the final list price. That 4-percentage-point gap means sellers who needed to reduce their price before going under contract gave up an additional $25,000 on a $625,000 property on average, beyond whatever they conceded in final negotiations. The wide ADOM range (from 0 to 275 days) also suggests a two-speed market: properties priced correctly from day one sold quickly, while overpriced listings accumulated months of market time before eventually selling at steep discounts from their original asking price.
What This Means for Multi Family Buyers
March 2026 delivered a year-over-year price increase of 13.8% in the Austin multi family market, meaning the median property costs roughly $67,600 more than it did in March 2025. That is a meaningful increase, and buyers should factor it into their underwriting. At the same time, the market remains classified as a buyer’s market at 6.64 months of supply, which means buyers are negotiating from a position of relative strength, with more options, more time, and more room to ask for concessions than they would have in a tighter market.
The sold-to-list price ratio of 96.05% tells buyers there is approximately 3.95% of negotiating room on average between the final asking price and the price buyers are actually paying. But the more revealing figure is the CP/OLP%: buyers paid on average just 92.33% of sellers’ original list prices. On a $623,971 average-priced property, that translates to roughly $48,000 in total concessions from the original ask. Buyers who do their homework on original list prices for comparable properties will have a clearer picture of how much room exists in any given negotiation.
Multi family buyers in Austin are frequently investors, and the investment calculus in March 2026 involves several moving pieces. Prices are up year over year, which affects the entry cost and initial cap rate. Interest rates for investment properties remain elevated relative to the 2020–2021 era, which compresses cash flow for leveraged buyers. However, Austin’s long-term demand fundamentals, including population growth, employment diversity, and a limited supply of quality income-producing properties, all of which continue to support the case for patient, well-priced acquisitions.
From a timing standpoint, the increase in new pending contracts (up 23.8% year over year) suggests that buyer competition may begin to increase heading into spring. Buyers who are ready to move should not wait indefinitely expecting further price declines, as the data points toward gradually improving seller conditions over the next few months, not a continued softening.
What This Means for Multi Family Sellers
The demand signals in March 2026 are more encouraging than they have been in several months. Closed sales jumped 69.2% from February, pending contracts rose 44.4%, and new listings came to market at a pace 31.7% higher than last month. The market is waking up from its winter slowdown, and sellers who have been waiting for signs of life have some reason for cautious optimism.
Competition remains real, however. There are 146 active multi family listings on the market in Austin, and at the current closed sales pace, that represents more than six months of supply. Sellers are not competing one-on-one; they are competing in a field of over 140 other properties for a pool of 22 buyers who closed this month. In that environment, presentation, pricing, and marketing are not optional enhancements; they are the difference between selling and sitting.
The CP/OLP% data confirms a pattern consistent with the broader multi family market trend: sellers who overprice frequently end up conceding more in price reductions and buyer negotiations than they would have by entering the market correctly. Buyers paid on average only 92.33% of original list prices, meaning the typical seller gave back nearly 8% from where they started. The active list price of $599,000 versus the median sold price of $557,500 further illustrates the gap. In a market with few transactions and a limited buyer pool, an overpriced property can languish for months, accumulating days on market that become a negotiating liability in their own right.
The downward trend in active inventory (from 166 a year ago to 146 today) and the pickup in pending contracts are positive directional signals for sellers. If these trends continue through April and May, the months of supply figure should continue to decline, gradually shifting negotiating leverage. Sellers who price correctly today may benefit from improving conditions; those who price speculatively are more likely to find themselves chasing the market down.
Market Summary and Outlook
March 2026 was a rebound month for the Austin multi family market after what was a very slow February. Closed sales nearly doubled, dollar volume grew 80% month over month, and pending contracts suggested that buyer activity is returning with the arrival of spring. The median sold price of $557,500 was the highest recorded in several months, and year-over-year price appreciation of 13.8% underscores that, despite a buyer-market supply dynamic, the multi family market in Austin has not experienced sustained price declines.
The year-over-year comparisons present a market in transition rather than one in either boom or bust. Prices are up 13.8%. Days on market are up dramatically, by 195.5%, reflecting a genuine slowdown in transaction pace that has characterized the past twelve months. Inventory is down 12% from a year ago, and pending contracts are up 23.8%. The overall picture is of a market where supply has been gradually absorbed, buyer activity is cautiously rebuilding, but conditions have not yet shifted enough to declare a meaningful advantage for sellers.
The key variable for the coming months is whether the pickup in buyer activity seen in March is sustained or merely seasonal. Austin’s spring selling season historically brings an increase in both listings and buyers, and the March pending contract count of 26 suggests buyers are engaging. If that demand holds through April and May while new listings stay below their year-ago levels, months of supply should continue to decline, and the market will move closer to balanced territory. If new listings surge without a corresponding increase in buyer demand, inventory will climb and the buyer advantage will persist.
Austin’s long-term multi family fundamentals remain intact. The city continues to attract employers, residents, and capital. The supply of duplex, triplex, and quadplex properties is inherently constrained by zoning and the cost of construction, which means the inventory dynamics of this market are different from the broader for-sale housing market. For investors with a longer time horizon, the current buyer-market conditions represent an opportunity to acquire income-producing properties at more favorable terms than were available in 2021–2022. The data supports a measured, analytical approach: not urgency, but not indefinite waiting either.
Action Items for Multi Family Buyers
- Use the current buyer’s market conditions to your advantage by requesting inspection contingencies, repair allowances, or seller-paid closing costs, as the 6.64 months of supply and 65-day median days on market signal that sellers have limited leverage in most negotiations.
- Study the gap between list price and sold price carefully: at 96.05% sold-to-list, buyers are on average paying about 3.95% below asking price, which means a well-researched offer below list is often accepted without significant pushback.
- Move quickly on well-priced properties that show correctly, because the 23.8% year-over-year increase in pending contracts suggests that more buyers are entering the market this spring, and competition for desirable properties will likely increase over the coming months.
- Factor the 13.8% year-over-year price increase into your investment underwriting: at $557,500 median and $249 per square foot, entry costs are meaningfully higher than they were a year ago, so your return assumptions should reflect current market pricing rather than last year’s numbers.
- Pay close attention to the original list price versus final sale price for comparable properties, as the CP/OLP% data reveals how much total price reduction sellers accepted from their first asking price, often more than the CP/LP% alone suggests, giving buyers additional negotiating context.
- Work with an experienced multi family buyer’s agent who tracks Austin’s market data monthly, because the volatility in this market means conditions can shift meaningfully from quarter to quarter, and having current data at your fingertips is essential to making a well-informed offer.
Action Items for Multi Family Sellers
- Price your property based on what comparable multi family properties have actually sold for in the past 60–90 days, not based on active list prices, as the $41,500 gap between the median active list price ($599,000) and the median sold price ($557,500) in March shows that buyers are not paying asking prices.
- Ensure your property is in strong showing condition before listing, because with 146 active listings competing for the same buyers who closed 22 transactions in March, a property that stands out visually and mechanically will reach contract significantly faster than one that needs obvious work.
- Take March’s 65-day median time to sell seriously in your planning timeline; if you need to close by a specific date, work backward from that date and list early enough to allow for a full marketing period without pricing under pressure.
- Consider the improving supply-demand trend as a reason to act soon rather than waiting indefinitely: active inventory is down 12% year over year and pending contracts are up 23.8%, which suggests that conditions are gradually improving for sellers, but those improvements are not yet dramatic enough to justify aggressive overpricing.
- If you have been on the market for more than 45 days without an accepted offer, treat that as a clear pricing signal rather than a patience problem, because in a market with this many active listings and this few monthly buyers, days on market accumulate quickly and become a visible liability in the MLS.
- Consult with a multi family specialist at Eleven Oaks Realty to review your specific property’s positioning, because the gap between what properties are listed for and what they sell for in this market means that getting the pricing strategy right from day one is the single most impactful thing a seller can do.
Final Word on the Market
March 2026 was a month that rewarded buyers who were prepared and sellers who were realistic. The bounce in closed sales and pending contracts was encouraging, and the year-over-year price appreciation of 13.8% demonstrates that Austin multi family values have held up better than the market’s buyer-market classification might suggest. But the fundamentals (more than six months of supply, 65-day median days to sell, and a meaningful gap between list and sold prices) confirm that buyers have the advantage in most negotiations right now.
The honest read on Austin’s multi family market in March 2026 is this: it is a good time to buy if you have done the work. Entry costs are higher than they were a year ago, but you have time, options, and negotiating room that you would not have had in 2021 or 2022. For sellers, the market is workable but unforgiving of overpricing. Properties that enter the market at realistic values are selling (22 did so in March), but sellers who test the market with aspirational pricing are more likely to contribute to the days-on-market statistics than to the closed sales count.
The data is your guide. Whether you are buying your first investment property or selling one you have owned for years, the numbers in this report reflect what Austin’s multi family market is actually doing, not what anyone hopes it will do. Make the decision that fits your investment goals and your financial situation, and do it with current data in hand.
Questions About the March 2026 Austin Multi Family Real Estate Price Report?
Have questions about what the March 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 March 1, 2026 through March 31, 2026. Some variation between data sources may exist due to differing methodology and timing of data pulls.
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