COVID-19 exacerbates inventory shortage in Austin area; home sales drop
Austin-area home sales declined across most of the region in April as the full impact of the COVID-19 pandemic and local shelter-in-place orders was felt in the housing market, according to the Austin Board of REALTORS® (ABoR) latest Central Texas Housing Market Report.
In today’s video, I’ll let you know a few things about our local real estate market along with some ideas about how to handle your finances right now.
Central Texas REALTORS® remain cautiously optimistic during COVID-19 pandemic
Historically low interest rates add another variable to housing market AUSTIN, Texas – The Austin Board of REALTORS® (ABoR) February 2020 market analysis showed a 6.8% increase in residential home sales in the Austin-Round Rock Metropolitan Statistical Area (MSA) and a 12.8% increase in median sales price to $327,140. While sales increased from 2,363 homes …
The first Central Texas Housing Market Report of the year shows steady gains in both home sales and prices across the five-county Austin-Round Rock Metropolitan Statistical Area (MSA), according to the Austin Board of REALTORS® (ABoR).
The Central Texas real estate market is headed for record-breaking sales this year. November home sales throughout the five-county Metropolitan Statistical Area (MSA) pushed the year-to-date total to 30,561 sales, which is approximately 300 homes shy of last year’s total sales volume. Each county experienced a double-digit increase in home sales.
Home sales in Austin experienced a double-digit percent increase in October—creating a new record even as the inventory of single-family homes in Austin dropped to an all-time October low. In Williamson County, October single-family home sales rose 14.3% and the median price for single-family homes increased 4.2% to $295,000.
While the summer selling season has ended for most housing markets, the Austin Board of REALTORS® latest Central Texas Housing Market Report shows a double-digit percent increase in Austin home sales, which continue to outpace inventory and drive up home prices. The median price of a single-family home in the city of Austin rose 11.9% this month to $406,000––an all-time high for any September on record.
Increasing sales and decreasing home stock leave few choices for Austin residents As the summer-selling season came to an end, August Austin-area home sales continued to increase, while listings on the market decreased compared to the same month last year.