Median Home Price
$575,750
-10% to -19.5% YoY
Median $/Sq Ft
$217 – $242
Returned to ~2021 levels
Days on Market (Median)
28
Buyer's market
Sale-to-List Ratio
93.2%
0% sold above list
Months of Inventory
4.9
Buyer leverage
Listings with Price Cuts
63.5%
Builder incentives $50K–$78K
By Zip
DSISD performance, broken out by zip code.
| Zip | Median Sold | DOM (Median) | Active Listings |
|---|---|---|---|
| 78737 | $725,000 | 32 | 168 |
| 78620 | $575,750 | 28 | 184 |
| 78619 | $1,250,000 | 38 | 60 |
Editor's notes
What the numbers actually mean this quarter.
Dripping Springs is in a buyer's market by every measurable standard: sellers are cutting prices, homes are sitting, and not a single home sold above asking in April 2026. The market has corrected 15-24% from the 2022 peak, returning prices to roughly 2021 levels.
With 4.9 months of supply, buyers have negotiating leverage they have not had since before 2020. The window of maximum value features 93.2% sale-to-list, 63.5% of listings with price cuts, and builder incentives of $50K-$78K on new construction from Taylor Morrison, Toll Brothers, and David Weekley.
Most builder promotions expire June – September 2026. Demand for homes zoned to Rooster Springs Elementary and the on-site Wildwood Springs Elementary at Headwaters remains the strongest sub-segment.
Five-Year Price History
The peak was 2022 — and the correction is real.
| Year | Median Price | YoY Change |
|---|---|---|
| 2020 | ~$390,000 | Baseline |
| 2021 | ~$556,000 | +40 – 45% |
| 2022 | ~$750,000 | +35% (Peak) |
| 2024 | $673,495 | -13.2% from peak |
| 2026 YTD | $614,000 | Continued correction |
| April 2026 | $570,000 | -14.9% YoY |
Rental Market & Cap Rates
A long-term appreciation play, not a cash-flow market.
Cash-on-cash returns are negative at current mortgage rates and price points. The DSISD premium and builder incentive window make this market favorable for owner-occupants — not investors seeking cash flow.
| 3BR Monthly Rent | $2,300 – $3,200 |
| 4BR Monthly Rent | $3,100 – $3,875 |
| Vacancy Rate | 3.5 – 4.1% |
| Cap Rate at $575K | 2.41% |
| Cap Rate at $800K | 1.36% |