March market statistics for the Central Texas area have been released by The Austin Board of Realtors® (ABoR). Included below are highlights for Austin-Round Rock MSA, and Williamson County.
Despite the COVID-19-related shelter-in-place orders that went into effect on March 24, area home sales held steady in March.
The median price for residential homes in the city of Austin alone rose 14% year over year to $415,000, an all-time high for any month on record. In the greater Austin-Round Rock MSA listing and pending sales were down year over year, indicating a tightening inventory while closed sales were up just a bit at 2% year over year.
In Williamson County home sales were flat and the median price for residential homes increased by 6% year over year to $293,805.
Romeo Manzanilla, 2020 ABoR president says: "Sellers should remain cautiously optimistic during this time. Austin-area homebuyers are still looking to buy homes, and fewer homes on the market means stronger demand and increased visibility for your property. Despite the challenges of COVID-19, we’re still in a seller’s market and sellers should be encouraged to list their homes.”
So if you’re considering buying or selling, the short answer is yes! You can 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?
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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All information in this post is deemed reliable but it is not guaranteed. I can help you validate any concerns or discrepancies!