July 2020 market statistics for the Central Texas area have been released by The Austin Board of Realtors® (ABoR). Included below are highlights for the Austin-Round Rock MSA and Williamson County.
The Austin 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.
Year over year metrics:
In the combined Austin-Round Rock MSA, continued demand and limited inventory drove home prices up and sales increased. The median price for residential homes increased 10% to $353,000 and residential sales increased 21% to 4,537 sales. New listings rose 13% to 4,767 listings, active listings decreased 32% to 5,309 listings and pending sales increased 32% to 4,607. As with June monthly housing inventory decreased 1 month year over year to just 1.7 months of inventory.
In Williamson County July residential sales increased by 24% to 1,530 sales, and the median price rose 10% to $314,995. New listings rose 6% to 1,450 listings, while active listings decreased 39% to 1,524 listings. Pending sales jumped 29% to 1,518 total pending sales. Housing inventory declined by 1.1 months to 1.5 months of inventory.
If you’re considering buying or selling in the days ahead, read our recent blog post about the top COVID FAQs to learn more about what you can expect from the Austin housing market right now. Austin's housing inventory is tight but I have a successful history of helping clients navigate seemingly challenging situations - even with the current COVID-related sensitivities. Contact me and let's address any concerns and how we can keep your goals and the current market conditions working together!
Stay happy and healthy!
Joe Paul Reider
Home Style Austin Founder Austin Realtor® Keller Williams Realty, Inc.
Email: JoePaul@KW.com Mobile: 512-222-3302 Web: JoePaulReider.KW.com
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Please Note: All information in this post is deemed reliable but it is not guaranteed. I can help you validate any concerns or discrepancies!