AUSTIN, TEXAS ~ April 2021 market statistics for the Central Texas area were released by The Austin Board of Realtors® (ABoR). April was another housing record-breaking month as the Austin-Round Rock MSA broke double-digit year over year home sales and median home price growth despite remarkably thin inventory levels.
Below are year over year highlights for the Austin-Round Rock MSA as well as a focus on Williamson County where inventory also continues to struggle to meet demand.
In the Austin-Round Rock MSA:
What increased? The median price for residential homes increased 42% to an all-time high of $460,000, closed sales increased 37% to 3,604, pending sales increased 50% to 3,920 properties, and new listings increased 33% to 4,654, also up from March 2021.
What went down? Active listings were down 70% at 1,901. As with June 2020 through March 2021, monthly housing inventory decreased once again, and for the sixth time ever remained at less than 1 month of inventory; this is well below the Real Estate Center at Texas A&M University’s benchmark of 6 months to maintain a balanced housing market indicating a strong seller's market.
Heading north to Williamson County:
What increased? The median sales price rose 45% to $430,000, closed sales rose 34% to 1,219 and pending sales rose 43% to 1,297. Similar to the Greater Austin-Round Rock MSA new listings were up at 38% to 1,576, also higher than that of March 2021.
What decreased? Active listings decreased by 74% to just 537 homes. Housing inventory also declined by 1.5 months resulting in just 0.5 months of inventory. This is far below the Real Estate Center at Texas A&M University’s benchmark of 6 months to maintain a balanced housing market.
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."
If you're looking to purchase real estate, my expertise and large Keller Williams network is helping connect sellers and buyers even before homes hit the market. If you'd like to speak with my recent clients who have recently closed or under contract, let me know!
If you're selling, you're in a great position to make a timely move! Contact me and I can provide you with a complimentary, current competitive market analysis for your home which will help you best understand what your home is likely to sell for given our fast-paced market.
Contact me and let's discuss your goals and the current market conditions to help leverage both to your advantage!
Joe Paul Reider
Home Style Austin Founder Austin Realtor®, CLRA Keller Williams Realty, Inc.
Email: JoePaul@KW.com Mobile: 512-222-3302 Web: JoePaulReider.KW.com
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