Market Monday: October 5th, 2026
Hey, good lookin'. More than a quarter of Austin listings took a price cut in September, and buyers are noticing.
🦩 What's happening with Austin home prices
Realtor.com's September housing report puts the Austin metro's median list price at $446,450. That's down 9.8% from a year ago. About 27.3% of active listings had a price reduction, one of the higher shares in the country right now.
Inventory didn't explode, though. Active listings rose only 1.4% year over year, and new listings were up 2.1%. I read that as sellers pricing to the market rather than a flood of new homes. For buyers, that means more room to negotiate. For sellers, it means pricing right from day one matters more than it did a few years ago.
🧯 Mortgage rates jumped this week
Freddie Mac's weekly survey had the 30-year fixed at 7.28% on October 1, up from 7.03% the week before. The 15-year fixed rose to 6.60%. That's the highest the 30-year has been since fall 2023, so if you're shopping, it's worth talking to your lender about rate locks and buydowns.
🧱 Builders are pacing themselves
Through August, the Austin area approved 10,766 single-family permits, close to flat with last year. Total permits, including multifamily, fell 13.6%. In southeast Austin, Benchmark is starting a 51,480 square foot amenity center at Goodnight Ranch next month, south of East Slaughter Lane, with a pool and lounge space. The community is planned for about 6,300 homes at full buildout.
🐢 Hays County keeps leading the corridor
Hays County logged 3,410 home sales through August, according to Texas A&M's Texas Real Estate Research Center. That's more than Comal (2,401) and Caldwell (420) combined. Down in Lockhart, the city has 70 residential permits in the works so far this year, down from 585 at its peak.
🦬 A big Hill Country ranch sale
Smith Ranch, a 2,894 acre property near Lampasas, sold in about six months after listing at $42 million. It came with private lakes, a main home, a guest house and two private airstrips. Ranches that size typically take 9 to 16 months to close.
🛸 Business and development news
Drone radio maker Doodle Labs moved its U.S. headquarters to Austin from the Los Angeles area. The company plans to grow to 30 to 50 local employees by the end of 2027.
The former Empire Control Room and Garage buildings at 604 and 606 E. 7th St. are on the market for $7 million. The owners say they want to sell to a music venue operator, since these are the only 1,000 capacity rooms downtown.
Wonder, the food hall and delivery company that owns Grubhub, filed plans for a $900,000 buildout at The Triangle, 4615 N. Lamar Blvd. Work is expected to wrap in April 2027.
🌮 New openings around town
El Grandpa Mexican BBQ opened October 3 at 10700 Menchaca Rd., south of Slaughter Lane. It moved down from Pflugerville and is known for pit-cooked barbacoa.
Lammes Candies is back. Preorders opened September 29 on lammes.com, with nationwide shipping starting November 1. Longhorns, Sherbet Mints and Texas Chewie Pecan Pralines come first.
Obi soft-opened October 2 at 2055 S. Lamar Blvd., selling photo and art books, vinyl records and curated objects, many sourced from Japan.
🌱 What this means if you're buying or selling in Austin
Price cuts and higher rates are pulling in opposite directions right now. Buyers have more leverage on price, but monthly payments are climbing. Sellers who price well from the start are still getting deals done. If you want to talk through what this looks like for your situation, reach out anytime.
