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.
Austin Home Sales Rise in Median Prices, Units and Dollars across MSA
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.
Austin is a Booming
People are still moving to Austin. The Austin Chamber of Commerce is also optimistic about the region’s attractiveness and is encouraged by recent corporate relocation and expansion announcements.
City of Austin Real Estate Market Statistics by the Numbers
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 Median List Price Increases over 10%
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 Home Sales in Units increased over 24%
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 Pending Sales were up 66% in July
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.