June 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.
Despite the continued COVID-19 pandemic being felt by all of us, Austin-area home sales rebounded across the region by 9.3% (2020 vs 2019). With continued declining inventory and stable prices, it remains a seller's market.
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 4% to $340,000 and residential sales increased 9% to 3,969 sales. New listings fell 5% to 4,170 listings, active listings decreased 32% to 5,300 listings and pending sales increased 33% to 4,737. Monthly housing inventory decreased 0.9 months year over year to just 1.8 months of inventory.
In Williamson County alone June residential sales increased by 16% to 1,352 sales, and the median price rose 4% to $304,090. New listings rose 2% to 1,400 listings, while active listings decreased 35% to 1,615 listings. Pending sales jumped 41% to 1,605 total pending sales. Housing inventory declined by 1 month to 1.6 months of inventory.
If you’re considering buying or selling, download and read this Fact Or Fiction COVID Resource Guide to learn more about what you can expect from the housing market right now. Including answers to your questions like:
Will Austin's housing market likely crash?
If I'm selling do I still need an appraisal?
Do people have to meet in person to close on a home?
The market inventory is tight but I have a successful history of helping clients navigate seemingly challenging situations. 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!