AUSTIN, TEXAS ~ The greater Austin area posted more record-breaking housing metrics in June as the median home price reached another all-time high—for any month on record—to $482,000 up from June's record-breaking $465,000.
Below are year over year highlights for the Austin-Round Rock MSA and Williamson County where the area's inventory continues to struggle to meet demand while prices are on the rise.
In the Austin-Round Rock MSA:
What increased? The median price for residential homes increased 43% to an all-time high of $482,364, closed sales increased 8% to a record-breaking June at 4,369, and new listings increased 23% to 5,170.
What went down? Average days on market decreased by 33 days to 13, active listings decreased 56% to 2,265. As with June 2020 through May 2021, monthly housing inventory decreased once again, and for the eighth consecutive month 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 47% to $450,000, closed sales rose 11% to 1,539 and pending sales rose 3% to 1,576.
What decreased? Average days on market decreased by 41 days to just 10 days, active listings decreased by 61% to just 605 homes and new listings decreased 25% to 1,759 homes. Housing inventory also declined by 1.4 months resulting in just 0.4 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.
Susan Horton, 2021 ABoR president said “Our market has established its own new normal, as median prices climb while inventory remains low. With the unprecedented growth our region continues to experience, we can expect these trends to continue.”
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.
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 who are under contract, let me know!
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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