Austin Real Estate Central Blog

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

May 25, 2021

APRIL 2021 AUSTIN REAL ESTATE MARKET UPDATE

Austin-Round Rock MSA home sales jump 37% in April 
Market shows strong recovery from shelter-in-place orders last spring 
AUSTIN, Texas – The booming Austin-area housing market continued to demonstrate strength in April, with soaring double-digit growth in both home sales volume and median price growth. The Austin Board of REALTORS® April 2021 Central Texas Housing Report is the first market report to provide a direct comparison to the housing market during the COVID-19 pandemic. 
“One year ago, shelter-in-place orders effectively ground real estate transactions to a halt, leaving uncertainty in the market,” Susan Horton, 2021 ABoR President, said. “Although striking at face value, last month’s housing market activity demonstrates not only a strong recovery since last spring, but significant growth beyond that recovery.” 
Residential home sales in the Austin Round-Rock MSA hit a record for the month of April, increasing 37.2% year over year to 3,604 sales, while median sales price rose 41.6% year over year to an all-time-high of $460,000. As a result, sales dollar volume topped two billion in April, skyrocketing 95.5% year over year to $2,065,570,878. Homes spent an average of 17 days on market, or 28 fewer days than in April 2020. 
John Schutze, regional director and senior home loan officer at Texas Loan Experts, stated that purchasing a home in the Austin area today requires more of an upfront investment than ever before.  
“Homebuyers are having to get creative as the Austin housing market continues to be competitive. Potential buyers must be prepared to have a source of extra funds to make up for potential appraisal shortages but also need to understand that cash isn’t always king when it comes to catching a seller’s eye. As interest rates look to hold steady for the foreseeable future, buyers need to be prepared for the long haul and need to work with a REALTOR® who can help explain the need to be bold and also help you put together the most attractive offer depending on the home and situation.” 
In April, active listings fell 69.5% year over year to 1,901 listings. Consistent with the first months of 2021, housing inventory fell 1.5 months from April 2020 to 0.5 months of inventory. During the same time frame, pending sales jumped 50.4% to 3,920 pending sales and new listings increased 32.6% to 4,654 new listings. 
“Austin-area housing inventory was slightly higher in April than in March, and the pace of home price appreciation month to month is slowing, indicating that the rush on the housing market at the beginning of the year could be easing,” Horton said. “While the homebuying process continues to be complex and it’s common to submit several offers before one is accepted, there is hope and optimism for the months ahead.” 
City of Austin  
In the city of Austin, low levels of inventory drove the median home price up 31.7% year over year to $550,562—an all-time high for any month on record. Home sales increased 51.4% to 1,167 sales, an all-time high for the month of April, as sales dollar volume soared 100.8% to $782,329,568. During the same period, new listings increased 33.3% to 1,545 listings, active listings decreased 57.2% to 683 listings, and pending sales jumped 64.5% to 1,273 pending sales. Monthly housing inventory decreased 1.0 months year over year to 0.6 months of inventory.  
Travis County  
At the county level, home sales increased 46.8% to 1,813 sales, while sales dollar volume spiked 104.4% to $1,226,240,023. The median price for homes increased 37.8% year over year to $537,500 as new listings increased 30.9% to 2,336 listings. In April, active listings declined 64.1% to 1,029 listings and pending sales rose 52.5% to 1,930 pending sales. Monthly housing inventory decreased 1.2 months year over year to 0.6 months of inventory.  
Williamson County  
In Williamson County, April home sales increased 34% to 1,219 sales, and sales dollar volume soared 92.3% to $573,488,436. The median price rose 45.4% to $430,000 and new listings increased 37.8% to 1,576 listings. At the same time, active listings dropped 73.5% to 537 listings while pending sales jumped 42.7% to 1,297 pending sales. Housing inventory declined 1.5 months year over year to 0.5 months of inventory.  
Hays County  
In Hays County, April home sales increased 9.5% to 416 sales, and sales dollar volume climbed 62.9% to $214,225,202. The median price for homes increased 33.3% to $380,000. During the same period, new listings increased 20.7% to 559 listings, and active listings tumbled 76% to 221 listings. At the same time, pending sales skyrocketed 63.6% to 543 pending sales. Housing inventory decreased 2.2 months to 0.5 months of inventory.  
Bastrop County  
In April, Bastrop County home sales increased 47.6% to 124 sales, and sales dollar volume soared 77.9% to $41,226,522. The median price increased 11.8% to $290,000. During the same period, new listings jumped 53.7% to 146 listings, while active listings declined 75% to 81 listings. Pending sales jumped 45.2% to 122 pending sales. Housing inventory decreased by 2.8 months to 0.6 months of inventory.   
Caldwell County  
In Caldwell County, April home sales soared 88.2% to 32 sales, and sales dollar volume skyrocketed by 156.9% to $9,183,573. The median home price increased 28.3% year over year to $254,100 and new listings increased 54.2% to 37 listings, while active listings decreased 63.3% to 33 listings. Pending sales rose 75% to 28 pending sales. Housing inventory decreased 2.5 months to 1.1 months of inventory.   
For more information or to download the April 2021 Central Texas Housing Market Report, visit ABoR.com/MarketStatistics
Are you looking for a professional to help you navigate this complex market when buying or selling or do you know of someone who is? I'd love an introduction. Please let me know how I can best help. If you are looking for a quick valuation of your home (which is admittedly probably way too low) check out my home valuation tool here... www.SellRealtyAustin.com
 
...or contact me for a detailed evaluation of your home's possible market value. Need to see what homes are out on the market? Check all listings out here... www.AustinRealEstateCentral.com
Scott R Hamilton
REALTOR
Realty Austin
512-993-6852
scotthamilton@realtyaustin.com
 
 
Feb. 4, 2021

DECEMBER 2020 AUSTIN REAL ESTATE MARKET UPDATE

Austin-Round Rock MSA home sales jump 37% in April 
Market shows strong recovery from shelter-in-place orders last spring 
AUSTIN, Texas – The booming Austin-area housing market continued to demonstrate strength in April, with soaring double-digit growth in both home sales volume and median price growth. The Austin Board of REALTORS® April 2021 Central Texas Housing Report is the first market report to provide a direct comparison to the housing market during the COVID-19 pandemic. 
“One year ago, shelter-in-place orders effectively ground real estate transactions to a halt, leaving uncertainty in the market,” Susan Horton, 2021 ABoR President, said. “Although striking at face value, last month’s housing market activity demonstrates not only a strong recovery since last spring, but significant growth beyond that recovery.” 
Residential home sales in the Austin Round-Rock MSA hit a record for the month of April, increasing 37.2% year over year to 3,604 sales, while median sales price rose 41.6% year over year to an all-time-high of $460,000. As a result, sales dollar volume topped two billion in April, skyrocketing 95.5% year over year to $2,065,570,878. Homes spent an average of 17 days on market, or 28 fewer days than in April 2020. 
John Schutze, regional director and senior home loan officer at Texas Loan Experts, stated that purchasing a home in the Austin area today requires more of an upfront investment than ever before.  
“Homebuyers are having to get creative as the Austin housing market continues to be competitive. Potential buyers must be prepared to have a source of extra funds to make up for potential appraisal shortages but also need to understand that cash isn’t always king when it comes to catching a seller’s eye. As interest rates look to hold steady for the foreseeable future, buyers need to be prepared for the long haul and need to work with a REALTOR® who can help explain the need to be bold and also help you put together the most attractive offer depending on the home and situation.” 
In April, active listings fell 69.5% year over year to 1,901 listings. Consistent with the first months of 2021, housing inventory fell 1.5 months from April 2020 to 0.5 months of inventory. During the same time frame, pending sales jumped 50.4% to 3,920 pending sales and new listings increased 32.6% to 4,654 new listings. 
“Austin-area housing inventory was slightly higher in April than in March, and the pace of home price appreciation month to month is slowing, indicating that the rush on the housing market at the beginning of the year could be easing,” Horton said. “While the homebuying process continues to be complex and it’s common to submit several offers before one is accepted, there is hope and optimism for the months ahead.” 
City of Austin  
In the city of Austin, low levels of inventory drove the median home price up 31.7% year over year to $550,562—an all-time high for any month on record. Home sales increased 51.4% to 1,167 sales, an all-time high for the month of April, as sales dollar volume soared 100.8% to $782,329,568. During the same period, new listings increased 33.3% to 1,545 listings, active listings decreased 57.2% to 683 listings, and pending sales jumped 64.5% to 1,273 pending sales. Monthly housing inventory decreased 1.0 months year over year to 0.6 months of inventory.  
Travis County  
At the county level, home sales increased 46.8% to 1,813 sales, while sales dollar volume spiked 104.4% to $1,226,240,023. The median price for homes increased 37.8% year over year to $537,500 as new listings increased 30.9% to 2,336 listings. In April, active listings declined 64.1% to 1,029 listings and pending sales rose 52.5% to 1,930 pending sales. Monthly housing inventory decreased 1.2 months year over year to 0.6 months of inventory.  
Williamson County  
In Williamson County, April home sales increased 34% to 1,219 sales, and sales dollar volume soared 92.3% to $573,488,436. The median price rose 45.4% to $430,000 and new listings increased 37.8% to 1,576 listings. At the same time, active listings dropped 73.5% to 537 listings while pending sales jumped 42.7% to 1,297 pending sales. Housing inventory declined 1.5 months year over year to 0.5 months of inventory.  
Hays County  
In Hays County, April home sales increased 9.5% to 416 sales, and sales dollar volume climbed 62.9% to $214,225,202. The median price for homes increased 33.3% to $380,000. During the same period, new listings increased 20.7% to 559 listings, and active listings tumbled 76% to 221 listings. At the same time, pending sales skyrocketed 63.6% to 543 pending sales. Housing inventory decreased 2.2 months to 0.5 months of inventory.  
Bastrop County  
In April, Bastrop County home sales increased 47.6% to 124 sales, and sales dollar volume soared 77.9% to $41,226,522. The median price increased 11.8% to $290,000. During the same period, new listings jumped 53.7% to 146 listings, while active listings declined 75% to 81 listings. Pending sales jumped 45.2% to 122 pending sales. Housing inventory decreased by 2.8 months to 0.6 months of inventory.   
Caldwell County  
In Caldwell County, April home sales soared 88.2% to 32 sales, and sales dollar volume skyrocketed by 156.9% to $9,183,573. The median home price increased 28.3% year over year to $254,100 and new listings increased 54.2% to 37 listings, while active listings decreased 63.3% to 33 listings. Pending sales rose 75% to 28 pending sales. Housing inventory decreased 2.5 months to 1.1 months of inventory.   
For more information or to download the April 2021 Central Texas Housing Market Report, visit ABoR.com/MarketStatistics
Are you looking for a professional to help you navigate this complex market when buying or selling or do you know of someone who is? I'd love an introduction. Please let me know how I can best help. If you are looking for a quick valuation of your home (which is admittedly probably way too low) check out my home valuation tool here... www.SellRealtyAustin.com
 
...or contact me for a detailed evaluation of your home's possible market value. Need to see what homes are out on the market? Check all listings out here... www.AustinRealEstateCentral.com
 
I'm looking forward to hearing from you.
Here's wishing you a great weekend!
Sincerely,
Scott R Hamilton
Realtor
Realty Austin
512-993-6852

 

Dec. 2, 2020

OCTOBER 2020 AUSTIN REAL ESTATE MARKET STATS

OCTOBER 2020 AUSTIN REAL ESTATE MARKET STATS

Central Texas housing market continues strong sales growth

AUSTIN, Texas - The Austin-Round Rock Metropolitan Statistical Area (MSA) posted another strong month of sales growth, according to the October 2020 Central Texas Housing Market Report released by the Austin Board of REALTORS® (ABoR). The MSA experienced a 29.4% increase to 3,780 in October home sales year over year, while homes continued to sell faster and at higher price points than ever before.

In addition to a third-consecutive month of double-digit home sales growth, median sales price increased 13.2% to $365,000, an all-time record, and sales dollar volume skyrocketed 55.3% to $1,778,706,460. Pending sales jumped 28.8% to 3,829; new listings increased 10.2% to 3,747; while active listings fell 50.3% to 3,501 sales. Homes spent an average of 35 days on market, 19 fewer days than in October 2019, and inventory fell 1.2 months to 1.1 months across the five-county area.

“The continued stability and strength of our market will be crucial heading into 2021. As we come to the end of a challenging year, I’m proud of the work that Austin REALTORS® have done to stabilize and grow our market,” Romeo Manzanilla, 2020 ABoR president, said. “While the full impact remains to be seen, the passage of Propositions A & B in Austin will increase the property tax bill homeowners receive over the next few weeks. Combined with rising home values, increasing demand and limited inventory, homeowners should be prepared for their property taxes to continue to increase regardless of tax rates.”

The Greater Austin Chamber of Commerce expressed a positive outlook for the local economy and job market for 2021 but echoed concerns around housing affordability and accessibility.

“Austin’s rank as one of the best places to live, work, and thrive in the country is evident by not only the growth of our housing market, but also by the growth of our local economy,” Laura Huffman, president and CEO of the Austin Chamber of Commerce, said. “Our region has a lower year-over-year job loss than any other major metro, and despite the pandemic, a record number of businesses have chosen to relocate to or expand in the region this year. We expect this growth—attributed to Texas’ business-friendly environment paired with Austin’s deep talent pool—will continue through 2021. Despite this, in 2021 the region needs to address housing affordability to help people from being priced out of the market, even as salary and job growth continues.”

“With a major transportation solution for our region now in place, we expect Austin City Council will turn their attention to the housing affordability crisis, which has only worsened during the pandemic,” added Manzanilla. “The Austin Board of REALTORS® looks forward to collaborating with both new and returning Council Members on ways to address this important issue.”

City of Austin
The median sales price in the city of Austin set an all-time record, rising 13.1% to $441,250 in October. Residential sales increased 22.7% to 1,224 sales, as sales dollar volume soared 52.6% to $705,053,179. During the same period, new listings increased 19.7% to 1,345 listings while active listings decreased 23.6% to 1,349 listings, and pending sales jumped 29.8% to 1,221 pending sales. Monthly housing inventory decreased 0.4 months year over year to 1.3 months of inventory.

Travis County
In Travis County, residential sales increased 22.4% to 1,921 sales, while sales dollar volume jumped 54.2% to $1,105,700,927. The median price for residential homes climbed 16.2% year over year to $430,000. During the same period, new listings increased 14.9% to 2,008 listings, active listings decreased 41.8% to 1,932 listings, and pending sales rose 29.9% to 1,931 pending sales. Monthly housing inventory fell0 .9 months year over year to 1.2 months of inventory.

Williamson County
In October in Williamson County, residential sales jumped 36.9% to 1,265 sales, and sales dollar volume skyrocketed 52.6% to $450,779,835. The median price increased 11.4% to $323,115. During the same period, new listings slightly increased 1.2% to 1,135 listings, while active listings dropped 67.9% to 750 listings. Pending sales jumped 21.5% to 1,248 pending sales. Housing inventory declined 1.6 months year over year to 0.7 months of inventory.

Hays County
In Hays County, October home sales increased 38% to 432 sales, and sales dollarv olume increased 64.2% to $169,973,568. The median price for homes increased 11.9% to $305,000. During the same period, new listings rose 5.3% to 395 listings, while active listings fell 44.9% to 519 listings. Compared to October 2019, pending sales soared 38.3% to 451 pending sales. Housing inventory dropped by 1.6 months to 1.3 months of inventory.

Bastrop County
Last month, Bastrop County home sales jumped 54.2% to 128 sales, and sales dollar volume soared 84.4% to $41,431,066. The median price for residential homes increased 6% to $265,000. During the same period, new listings increased 35.5% to 164 listings, while active listings declined 33.3% to 224 listings. Pending sales increased 57.1% to 165 pending sales. Housing inventory decreased by 1.6 months to 2.1 months of inventory.

Caldwell County
In Caldwell County, October home sales increased 9.7% to 34 sales, and sales dollar volume increased by 33.4% to $8,855,872. The median home price increased 26.7% year over year to $245,000. During the same period, new listings rose 36.4% to 45 listings, while active listings fell 29.6% to 76 listings. Pending sales rose 21.4% to 34 pending sales. Housing inventory decreased 1.6 months to 2.8 months of inventory.

For more information or to download the October 2020 Central Texas Housing Market Report, visit ABoR.com/MarketStatistics.

Sept. 24, 2020

AUGUST 2020 AUSTIN REAL ESTATE MARKET STATS

Austin-area housing market remains undeterred amid ongoing pandemic

AUSTIN, Texas—As the summer-selling season comes to a close, the Austin Board of REALTORS® (ABoR) latest Central Texas Housing Market Report indicates the Austin-area housing market continues to exhibit strength, despite economic setbacks amid the ongoing pandemic. The Austin-Round Rock MSA posted robust gains this August, as home sales experienced a double-digit increase of 12.9% year over year to 4,019 sales. 

In addition to an increase in home sales across the five-county MSA, sales dollar volume jumped 35.3% to $1,889,382,006, and the median price rose 11.3% to $355,000. New listings slightly increased 1% to 3,862 listings, and pending sales soared 40.1% to 4,533. At the same time, active listings dropped 44.9% to 4,257 listings. 

“The pandemic has put our market in a unique situation. As more people are working from home and have the opportunity to relocate, Austin-area homes are selling faster now than ever before,” Romeo Manzanilla, 2020 ABoR president, said. “Austin’s popularity has left the market with critically low levels of housing supply, which continues to drive home prices up. While home prices are rising, historically low interest rates are giving buyers increased power to meet the increases. Buyers should be aware of just how competitive this market has become, and would benefit enlisting the help of a REALTOR® who can help every step of the way during the homebuying process.”

Homes across the MSA spent an average of 42 days on the market, 10 days fewer days than August 2019, and housing inventory decreased 1.2 months to 1.4 months of inventory, well below the Real Estate Center at Texas A&M University’s benchmark of 6.0 months to maintain a balanced housing market. 

Mark Sprague, state director of information capital at Independence Title, said that although Austin-area home sales dipped in the early Spring, the region’s real estate market as a whole has endured. 

"It’s safe to say that August numbers solidify that Austin’s housing market has fully rebounded," Sprague said. "And, as long as we continue to see more job creation, we’ll likely see strong home sales throughout the remainder of the year. However, we started this year with a lack of inventory, and we’re going to end this year with a lack of inventory. Inadequate housing stock is going to be the main issue that holds the market back." 

City of Austin

In the city of Austin, critically low levels of inventory drove the median home price up 14.9% year over year to $435,000—an all-time high for any month on record. Residential sales barely increased 2.4% to 1,240 sales, as sales dollar volume jumped 19.9% to $682,748,453. During the same period, new listings increased 4.8% to 1,318 listings, active listings decreased 26.6% to 1,468 listings, and pending sales increased 20.6% to 1,314 pending sales. Monthly housing inventory decreased 0.5 months year over year to 1.5 months of inventory. 

Travis County

At the county level, residential sales increased 9.2% to 2,015 sales, while sales dollar volume spiked 39.9% to $1,182,976,984. The median price for residential homes increased 19.2% year over year to $430,000. During the same period, new listings slightly increased 1% to 2,046 listings, while active listings declined 41% to 2,253 listings. At the same time, pending sales rose 34.6% to 2,229 pending sales. Monthly housing inventory decreased 1.1 months year over year to 1.4 months of inventory. 

Williamson County

In Williamson County, August residential sales increased 13.5% to 1,343 sales, and sales dollar volume increased 23.1% to $467,254,216. The median price rose 5.7% to $307,500. During the same period, new listings decreased 6.3% to 1,154 listings, and active listings dropped 54% to 1,111 listings. Pending sales jumped 33.7% to 1,487 pending sales. Housing inventory declined 1.4 months year over year to 1.1 months of inventory. 

Hays County

In Hays County, August home sales spiked 31.7% to 499 sales, and sales dollar volume increased 45% to $192,109,298. The median price for homes increased 16.9% to $308,500. During the same period, new listings increased 12.6% to 475 listings, and active listings tumbled 46.4% to 556 listings. At the same time, pending sales skyrocketed 69.7% to 577 pending sales. Housing inventory decreased 1.7 months to 1.5 months of inventory. 

Bastrop County

In August, Bastrop County home sales increased 4.1% to 126 sales, and sales dollar volume increased 23.8% to $38,193,673. The median price for residential homes increased 16% to $278,500. During the same period, new listings jumped 29.7% to 144 listings, while active listings declined 24.4% to 260 listings. Pending sales spiked 98% to 200 pending sales. Housing inventory decreased by 1.0 months to 2.7 months of inventory.  

Caldwell County

In Caldwell County, August home sales increased 16.1% to 36 sales, and sales dollar volume increased by 7.4% to $8,392,577. The median home price dropped 1.7% year over year to $212,900. During the same period, new listings increased 19.4% to 43 listings, while active listings decreased 27.4% to 77 listings. Pending sales rose 53.9% to 40 pending sales. Housing inventory decreased 1.5 months to 2.9 months of inventory.  

For more information or to download the August 2020 Central Texas Housing Market Report, visit http://www.abor.com/statsaug20.

- 30 -

The Austin Board of REALTORS® (ABoR) is a nonprofit organization that has been serving the needs of Austin REALTORS® and consumers for more than 90 years. ABoR provides technology, education and advocacy for more than 14,000 members, as well as monthly housing market reports for Travis, Hays, Williamson, Bastrop and Caldwell counties. ABoR’s market reports include the most accurate multiple listing service (MLS) findings for the Austin area. 

Aug. 27, 2020

JULY 2020 AUSTIN REAL ESTATE MARKET STATISTICS

Housing market continues to bounce back; real estate is vital to early economic recovery

AUSTIN, Texas—According to the latest Central Texas Housing Market Report released by the Austin Board of REALTORS® (ABoR), the Austin-Round Rock Metropolitan Statistical Area (MSA) continues to exhibit resiliency in the face of COVID-19. The MSA posted its second consecutive month of strong home sales numbers with a 21.5% increase in July sales year over year. The robust increase demonstrates the vital role real estate will play as the region begins its economic recovery from the COVID-19 pandemic. 

In addition to the 21.5% jump to 4,537 home sales across the five-county MSA, the median price increased 10.7% to $353,000 and sales dollar volume also soared 36.7% to $2,037,152,035. Pending sales climbed 32.2% to 4,607 as new listings increased 13% to 4,767, while active listings dropped 32.4% to 5,309 due to demand. 

“July was a very encouraging month for the Central Texas housing market,” Romeo Manzanilla, 2020 ABoR president, said. “Strong home sales, combined with an increase in new listings and pending sales, are important benchmarks when analyzing the health of our market. A healthy housing marketing is vital to the overall economic recovery in the region, and with two consecutive months of positive numbers, we are growing more confident that this is sustainable and can help be the spark that gets our economy back on track.” 

Homes across the MSA spent an average of 44 days on the market, three fewer days than July 2019, and housing inventory fell by a full month to 1.7 months of inventory. Manzanilla also noted that this extremely low level of inventory, when paired with continued demand across the region, has led to rising home prices, creating a very strong seller’s market. As inventory falls, REALTORS® will continue to work aggressively to research the market and find the properties needed to meet their client’s demands. Prospective buyers should seek out a REALTOR® to work with who can put a strategic offer together in this competitive market. 

“Our market is now ultra-competitive because of our dangerously low inventory and that is cause for concern over the long-term. Homeowners thinking of listing their home need to understand the opportunities in the market and our elected leaders should focus on promoting policies that create increased housing capacity. The jobs pipeline into Austin continues to create new economic opportunities and a double-digit percentage gain in new listings in July, coupled with buyers continuing to take advantage of historically low interest rates, allows us to be cautiously optimistic about the remainder of 2020.” 

The Austin Chamber of Commerce is also optimistic about the region’s attractiveness and is encouraged by recent corporate relocation and expansion announcements. 

“Even amidst the pandemic, Austin still shines as a magnet for companies that appreciate our robust business climate and abundant talent pool,” Laura Huffman, president and CEO of the Austin Chamber of Commerce, said. “Recent economic development successes in the region—notably from Tesla and BAE Systems—will bring thousands of jobs to the region and contribute to our ongoing population growth. Our region has a long way to go in its recovery from the brunt of this pandemic, but economic indicators show the Central Texas economy will weather this storm.” 

To assist home sellers and buyers navigate the market, the Austin Board of REALTORS® recently launched a new campaign to help people find a REALTOR® that fits their specific needs by specialty by home type, by designation, including professionals that are experts in military relocation, homes for seniors, leasing and more and by geographic area. To find a REALTOR® that fits your needs, you can visit https://www.makeamoveaustin.com/

City of Austin

In the city of Austin, there was a 21.4% increase to 1,470 home sales which resulted in $793,610,174 in sales dollar volume, a 41.8% increase. The median price for residential homes increased 11.3% year over year to $423,000. During the same period, new listings jumped  20.4% to 1,676 listings, active listings decreased by 19.1% to 1,653 listings and pending sales rose 25% to 1,413 pending sales. Monthly housing inventory decreased 0.3 months year over year to 1.7 months of inventory.  

Travis County

Travis County saw residential sales increase by 17% to 2,258 sales, and sales dollar volume climbed 34.2% to $1,233,588,708. The median price for residential homes increased 10.3% year over year to $411,412. During the same period, new listings also increased 13.7% to 2,503 listings, while active listings declined 29.6% to 2,697 listings. Pending sales grew by 27.3% to 2,277 pending sales. Monthly housing inventory decreased 0.8 months year over year to 1.7 months of inventory.  

Williamson County

In July, Williamson County residential sales increased by 24.5% to 1,530 sales, and sales dollar volume climbed 34.6% to $523,478,727. The median price increased 10.5% to $314,995. New listings were up 6.5% to 1,450 listings, while active listings fell by 39.1% to 1,524 listings. Pending sales jumped 29.5% to 1,518 pending sales. Housing inventory declined 1.1 months year over year to 1.5 months of inventory. 

Hays County

July residential sales soared 32.8% to 555 sales, and sales dollar volume skyrocketed 59.3% to $224,313,232. The median price for residential homes increased by 18.1% to $310,000. During the same period, new listings experienced a 24.9% increase to 587 listings, and active listings fell 35% to 683 listings. Pending sales jumped 66.5% to 621 pending sales. Housing inventory decreased 1.4 months to 1.9 months of inventory. 

Bastrop County

Bastrop County residential sales increased 28% to 160 sales, while sales dollar volume increased 40.7% to $47,797,443. The median price for residential homes climbed 6.2% to $265,500. During the same period, new listings jumped 31.5% to 192 listings; active listings decreased 10.1% to 329 listings; while pending sales increased 23.5% to 147 pending sales. Housing inventory decreased 0.6 months to 3.4 months of inventory.  

Caldwell County

In July, Caldwell County residential sales increased 3% to 34 sales, and sales dollar volume slightly increased by 1.7% to $7,701,000. The median home price increased 7.3% year over year to $205,000. During the same period, new listings fell 7.9% to 35 listings; active listings decreased 27.6% to 76 listings; while pending sales jumped 33.3% to 44 pending sales. Housing inventory decreased 1.3 months to 2.9 months of inventory.  

...

The Austin Board of REALTORS® (ABoR) is a nonprofit organization that has been serving the needs of Austin REALTORS® and consumers for more than 90 years. ABoR provides technology, education and advocacy for more than 14,000 members, as well as monthly housing market reports for Travis, Hays, Williamson, Bastrop and Caldwell counties. ABoR’s market reports include the most accurate multiple listing service (MLS) findings for the Austin area. For more information, contact the ABoR public relations team at abor@echristianpr.com or 512-454-7636.

July 18, 2020

June 2020 Austin Real Estate Market Statistics

June 2020 Austin Market Stats Real Estate

June home sales rebound across Austin area; sales decline in first half of 2020 due to COVID-19  

AUSTIN, Texas—Home sales in the Austin-Round Rock Metropolitan Statistical Area (MSA) rebounded this June with a 9.3% increase year over year, which helped hold sales to only a 5.2% decline during the first half of 2020 as the market was impacted by COVID-19, according to the Austin Board of REALTORS® (ABoR) June and Midyear Central Texas Housing Market Report

Across the five-county MSA in June, residential home sales increased 9.3% year over year to 3,969 sales, and the median price increased by 4.6% to $340,000. Sales dollar volume also increased 13.1% to $1,674,070,282 and pending sales increased by 33.7% to 4,737. Housing inventory declined 0.9 months to 1.8 months of inventory, demonstrating an extremely competitive and tight market across the region, even as it begins to show signs of improvement. 

“Strong home sales in June are good news for the real estate market across the region,” Romeo Manzanilla, 2020 ABoR president, said. “The increased sales last month helped limit the impact of the pandemic on the first half of the year overall. Increased pending sales signal a strong month of sales in July, but we have to remain cautious as Texas experiences a spike in COVID-19 cases and we are seeing shrinking housing inventory.” 

Despite an increase in pending sales, new listings dropped 5.4% to 4,170 listings, and active listings dropped 32.2% to 5,300 listings.  

Manzanilla added, “As listings fell again, REALTORS® continue to help clients stay safe by implementing new precautions, such as virtual showings and enhanced digital floor plans. It’s the perfect time to talk to a REALTOR®, who can help you decide what makes sense for you and your family. If your home needs have changed, there are plenty of potential buyers amid record-low levels of inventory levels across the MSA and a REALTOR® will make finding a new home in a tight market a possibility.” 

James Gaines, chief economist for the Real Estate Center at Texas A&M University, thinks perspective is needed when interpreting the market throughout 2020. 

“There are plenty of unknowns in the months ahead, but June home sales across the MSA being up 9.3% YoY was tremendous when considering the strength of 2019. And while home sales declined throughout the Austin-MSA during the first six months of 2020, we are still on track for a strong year,” Gaines said. 

Gaines noted that while June saw strong numbers throughout all of Texas, Austin’s inventory shortage remains extremely problematic. 

“Extremely low inventory is one of the factors that affects overall sales dollar volume while simultaneously creating a very competitive and tight market. Home builders aren’t building quite as many new homes and sellers were hesitant to list their home during shelter in place orders. Even if we end up with a 3 to 4% decline in sales in 2020, that would still be a strong year for the region.” 

Austin-Round Rock MSA midyear performance 
In the first half of 2020, homes sales in the Austin-Round Rock MSA declined 5.2% year over year to 17,043 home sales. Sales dollar volume declined 1.9% to $6,897,765,107, while the median price increased 4.9% to $325,200. So far this year, new listings declined 7.5% to 22,744 new listings; active listings dropped 19.2% to 5,616 listings. However, pending sales slightly increased 2% to 20,389 pending sales.  

City of Austin 
In the City of Austin, home sales in the first half of the year decreased 13.6% year over year to 5,291 sales, while the median price rose 9.7% to $406,000. At the same time, sales dollar volume decreased by 6.2% to $2,621,719,744. New listings dropped 9.7% to 7,498 listings; active listings declined 21.8% to 1,398 listings; and pending sales also fell 8.9% to 6,201 pending sales.  
 
In June 2020, there were 1,163 home sales, down 5.3% year over year. Last month, sales dollar volume inched up by 0.2% to $588,734,242, while the median price slightly increased 3.3% to $407,000. During the same period, new listings decreased 5.3% to 1,448 listings; active listings tumbled 26.4% to 1,520 listings; and pending sales jumped 21.7% to 1,478 sales. Housing inventory decreased 0.4 months to 1.6 months of inventory. 

Travis County 
In Travis County, home sales decreased 10.3% year over year to 8,452 home sales in the first half of the year. During the same period, sales dollar volume dropped 6.5% to $4,078,268,052, as the median price rose by 7% to $385,000. New listings decreased 10.8% to 11,721 listings, and active listings dropped 24% to 2,572 listings. Pending sales also fell 5.3% to 9,976 pending sales.  
 
In June, home sales decreased 0.8% year over year to 1,935 home sales, while sales dollar volume rose by 4.3% to $980,584,301. During the same period, the median price increased 3.5% to $398,250. New listings declined 8.1% to 2,165 listings; active listings dropped 31.9% to 2,626; while pending sales jumped 22.3% to 2,313 pending sales. Housing inventory fell 0.8 months to 1.7 months of inventory.  

Williamson County 
In Williamson County, home sales in the first half of 2020 declined 3.6% year over year to 5,767 home sales. During the same period, sales dollar volume remained flat at $1,877,370,936, and the median price increased 2.8% to $291,920. New listings decreased 4.8% to 7,325 listings; active listings dropped 19.2% to 1,803 listings; while pending sales increased 6% to 6,958 pending sales.  
 
In June, home sales increased 16.1% year over year to 1,352 home sales. During the same period, sales dollar volume jumped 21.9% to $458,305,463, and the median price increased 4.9% to $304,090. New listings increased 2.1% to 1,400, while active listings tumbled 35.1% to 1,615 listings. Pending sales spiked 41.7% to 1,605 pending sales. Housing inventory fell 1 month to 1.6 months of inventory.  

Hays County 
In the first half of 2020, Hays County home sales rose 12.2% year over year to 2,137 home sales, and sales dollar volume rose 19.6% to $754,871,620. During the same period, the median price increased 4.9% to $278,995. New listings slightly fell 0.5% to 2,679 listings; active listings declined 10.8% to 822 listings; and pending sales jumped 21.2% to 2,592 pending sales.  
 
In June, home sales jumped 38.6% year over year to 535 home sales, and sales dollar volume also skyrocketed 48.6% to $193,556,186. During the same period, the median price rose by 6.6% to $287,265. New listings decreased 13.6% to 419 listings; active listings fell 31.6% to 690 listings; and pending sales spiked 60.6% to 604 pending sales. Inventory dropped 1.2 months to 2.0 months of inventory.  

Bastrop County 
In the first half of 2020, Bastrop County home sales increased 2.7% year over year to 539 home sales, and sales dollar volume increased 12.6% to $150,584,845. The median price increased 9.9% to $256,000. During the same period, new listings declined 3.1% to 804 listings, as active listings rose 2.8% to 328 listings. At the same time, pending sales increased 14.2% to 677 pending sales.  
 
In June, home sales increased 7.4% year over year to 116 home sales, and sales dollar volume climbed 16.2% to $33,337,768. At the same time, the median price increased 14% to $268,000. New listings dropped 0.7% to 148 listings; active listings fell 20.4% to 288; while pending sales jumped 52.3% to 169 pending sales. Inventory declined 1.1 months to 3.0 months of inventory. 

Caldwell County 
In the first half of 2020, Caldwell County home sales increased 5% year over year to 148 home sales, and sales dollar volume increased 21% to $36,639,286. The median price climbed 4.5% to $209,000. During the same period, new listings dropped 8.5% to 215 listings; active listings declined 1.1% to 89 listings; while pending sales increased 21.6% to 186 pending sales.  
 
In June, home sales spiked 40.9% year over year to 31 home sales, and sales dollar volume jumped 58.8% to $7,577,358. During the same period, the median price rose 7.2% to $204,239. New listings dropped 17.4% to 38 listings; active listings decreased 23.6% to 81 listings; while pending sales increased 53.3% to 46 pending sales. Housing inventory fell 1.2 months to 3.2 months of inventory.  

For more information and to download the June and Midyear 2020 Central Texas Housing Market Report, visit www.abor.com/statsjun20.  

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The Austin Board of REALTORS® (ABoR) is a nonprofit organization that has been serving the needs of Austin REALTORS® and consumers for more than 90 years. ABoR provides technology, education and advocacy for more than 14,000 members, as well as monthly housing market reports for Travis, Hays, Williamson, Bastrop and Caldwell counties. ABoR’s market reports include the most accurate multiple listing service (MLS) findings for the Austin area. For more information, contact the ABoR public relations team at abor@echristianpr.com or 512-454-7636.

June 27, 2020

May 2020 Austin Real Estate Market Statistics



COVID-19 exacerbates inventory shortage in Austin area; home sales drop

AUSTIN, Texas—The Greater Austin area continued to feel the stark effects of COVID-19, as housing inventory dropped to critically low levels of less than 2 months of inventory in Austin, Travis County and Williamson County, according to the Austin Board of REALTORS® (ABoR) latest Central Texas Housing Market Report.

Compared to May 2019, residential sales in the five-county Metropolitan Statistical Area (MSA) decreased 29.2% to 2,697 sales, while sales dollar volume dropped 30.8% to $1,092,374,935. At the same time, the median sales price increased 0.7% to $329,893 and homes spent three fewer days on the market—an average of 47 days. 

"We're seeing home sales drop because we simply don't have enough inventory on the market," Romeo Manzanilla, 2020 ABoR president, said. "We recognize there’s still an element of discomfort with listing one’s home during the pandemic and Austin REALTORS® are taking every precaution to ensure safe and efficient practices across the market. There’s a lot of opportunity for sellers who are ready—new listings have increased visibility and homes are spending less time on the market." 

Mark Sprague, state director of information capital at Independence Title, said that although real estate was deemed essential, it was significantly impacted by the slowing economy. 

"If you compare Austin's home sales to the majority of large cities in the U.S., you'll find Austin's market has remained strong," Sprague said. "But, because sales numbers have a one-to-three-month lag time, it was no surprise May sales declined and we'll likely see the same in June and July. The solution is increased housing stock. Until more homes are put on the market, we won't see home sales recover anytime soon." 

In the Austin-Round Rock MSA, an 18.8% decline to 6,086 active listings pushed housing inventory down further to 2 months, 0.6 months lower than May 2019. During the same period, new listings declined 15.8% to 4,151 listings, while pending sales jumped 14.2% to 4,287 sales.

“Pending sales growth is the first sign of recovery, so the strong gains in May pending home sales throughout the MSA is encouraging,” concluded Manzanilla. “With continued population growth and pent-up demand for housing, our region’s housing market will ultimately rebound.”

City of Austin

In the city of Austin, continued demand and limited inventory drove home prices up, as sales dropped due to fewer listings. The median price for residential homes increased 10.7% year over year to $424,050. Residential sales decreased 36.6% to 826 sales, and sales dollar volume decreased 32.5% to $418,410,453. During the same period, new listings fell 18.7% to 1,348 listings, active listings decreased 13.5% to 1,684 listings and pending sales declined 4.9% to 1,216 pending sales. Monthly housing inventory decreased 0.2 months year over year to 1.7 months of inventory. 

Travis County

At the county level, residential sales declined 33.8% to 1,319 sales, and sales dollar volume dropped 35% to $644,917,945. The median price for residential homes increased 4.7% year over year to $398,345. During the same period, new listings decreased 17.1% to 2,162 listings, while active listings declined 19.7% to 2,959 listings. Pending sales slightly increased 1.1% to 2,016 pending sales. Monthly housing inventory decreased 0.5 months year over year to 1.9 months of inventory. 

Williamson County

In Williamson County, May residential sales decreased by 27.1% to 914 sales, and sales dollar volume decreased 26.4% to $297,560,285. The median price fell 2.7% to $290,000. New listings dropped 20.1% to 1,269 listings, while active listings slightly decreased 23.7% to 1,826 listings. Pending sales jumped 23.6% to 1,497 pending sales. Housing inventory declined 0.7 months year over year to 1.8 months of inventory. 

Hays County

In Hays County, May residential sales fell 19.1% to 340 sales, and sales dollar volume decreased 20.5% to $115,545,478. The median price for residential homes declined by 0.8% to $265,900. During the same period, new listings slightly decreased 0.4% to 528 listings, and active listings decreased 8% to 890 listings. Pending sales jumped 44% to 583 pending sales. Housing inventory decreased 0.5 months to 2.6 months of inventory. 

Bastrop County

In May, Bastrop County residential sales fell 13% to 100 sales, while sales dollar volume decreased 10.1% to $28,723,638. The median price for residential homes increased 9.3% to $260,000. During the same period, new listings decreased 5.6% to 152 listings, active listings decreased 8.5% to 323 listings, while pending sales jumped 29.1% to 151 pending sales. Housing inventory decreased 0.6 months to 3.5 months of inventory.  

Caldwell County

In Caldwell County, May residential sales decreased 14.3% to 24 sales, and sales dollar volume decreased by 13.5% to $5,077,774. The median home price dropped 12.1% year over year to $179,900. During the same period, new listings fell 7% to 40 listings, active listings decreased 14.6% to 88 listings, while pending sales jumped 42.9% to 40 pending sales. Housing inventory decreased 0.7 months to 3.5 months of inventory.  

For more information or to download the May 2020 Central Texas Housing Market Report, visit http://www.abor.com/statsmay20.

May 22, 2020

April 2020 Austin Real Estate Market Statistics

Austin Real Estate Market Statistics Austin Metro Area

AUSTIN HOUSING MARKET REACTS TO COVID-19

AUSTIN, TX— As anticipated, Austin-area home sales declined last month, but homes spent less time on the market and sold at higher prices than last April.

So what can we expect from the housing market in the coming months? Realty Austin’s co-founder and Chief Technology Officer, Jonathan Boatwright, sat down with nationally recognized real estate economist, Dr. Mark Dotzour for an engaging interview where they discussed the future of mortgage rates, home prices, job growth, the stock market, and more. Watch the webinar now!

Residential home sales decreased by 21% in the Austin area in April. Sales dollar volume fell 18% to $1.06B. Active listings declined 7% to 6,349 driving housing inventory to 2.1 months, 0.2 months lower than this time last year. Median sales price increased 3% to $325,000 and homes spent nine fewer days on the market, or an average of 43 days.

Economists and real estate experts are optimistic that Austin’s housing market is resilient. Listing and showing activity is already on the rise. ABoR President Romeo Manzanilla stated, “Efforts to recognize real estate as an essential business helped lessen the negative impact of the pandemic during April. We’re hopeful this growth will continue in the coming weeks and months.”

“As the economy steadily reopens, expect more listings to pop up, which will help ease the housing shortage. By the end of this year, home sales could be at levels comparable to 2019,” Lawrence Yun, chief economist and senior vice president of research at the National Association of REALTORS®, said.

April 2020 Austin market stats

SINGLE-FAMILY HOMES, CONDOS, AND TOWNHOMES

April 2019 vs April 2020

 

April 2020 Single Family Homes Snapshot

ALL LUXURY HOME SALES OVER $1,000,000

April 2019 vs April 2020

 

These statistics are for single-family homes, condos, and townhomes across the Austin-Round Rock Metropolitan Statistical Area (MSA). If you would like similar statistics for a specific area, property type or price range, please contact us and tell us how we can help. Use our new market snapshot tool for a comprehensive analysis of your home’s value in today’s market, or call us for an analysis of comparable homes sold.

Feb. 29, 2020

Annual Review

Annual Review

For your personal finances, you probably review your stock portfolio and tax returns. Since your home is a valuable part of your net worth and retirement plan, it's ideal to do the same for your home. Please contact me if you'd like an annual real estate review delivered detailing 2019 market activity to track your investment over time. My goal is to provide value and create lifelong client relationships. Contact me today for your custom annual review.

Posted in Selling Your Home
Feb. 28, 2020

January 2020 Austin Market Statistics

January 2020 Austin Market Statistics