AUSTIN, TEXAS ~ March 2021 market statistics for the Central Texas area were released by The Austin Board of Realtors® (ABoR). March was another housing record-breaking month.
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 28% to an all-time high of $425,000, closed sales increased 13% to 3,603 and pending sales increased 42% to 4,200 properties. After a frigid February the spring housing market is heating up in Central Texas!
What went down? New listings were down 1% to 4,206 while active listings decreased 78% to 1,202. As with June 2020 through February 2021, monthly housing inventory decreased once again, and for the fifth 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 40% to $400,000, closed sales rose 10% to 1,206 and pending sales rose 32% to 1,360.
What decreased? While new listings were flat at 1,359, active listings decreased by 85% to just 260 homes. Housing inventory also declined by 1.5 months resulting in a staggering 0.2 months of inventory (about 6 days which is even lower than February). This is far below the Real Estate Center at Texas A&M University’s benchmark of 6 months to maintain a balanced housing market.
Along with the March performance data release, Susan Horton, 2021 ABoR president said, “Our housing market is undergoing growing pains and creating a paradox—affordable from the outside looking in, but increasingly unaffordable for those who already call Austin home. While more homes are selling than ever before, it’s more and more difficult to find one.” 2021 has been good to me and my clients:
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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