November 2020 market statistics for the Central Texas area have been released by The Austin Board of Realtors® (ABoR). As our article headline indicates another strong-performing month for Central Texas real estate! Below are highlights for the Austin-Round Rock MSA and Williamson County.
Year over year metrics:
In the combined Austin-Round Rock MSA, continued demand and limited inventory drove home prices up to an all-time-record month of sales for November. The median price for residential homes increased 19.7% to $365,000 and residential sales increased 23.8% to 3,397 sales. New listings were up 5.7%, to 2,762 and active listings decreased 55.2% to 2,842 and pending sales increased 23% to 3,269. As with June through October, monthly housing inventory decreased again but for the first time ever fell to 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.
In Williamson County residential sales increased by 19.8% to 1,127 sales and the median price rose 18% to $326,725. New listings increased 2.2% to 903 while active listings decreased by 71.8% to 604. Pending sales rose by 12.2% to 1,046 total pending sales. Similar to the Austin-Round Rock MSA housing, inventory declined by 1.6 months resulting in a staggering and unprecedented 0.5 months of inventory which is well below the Real Estate Center at Texas A&M University’s benchmark of 6 months to maintain a balanced housing market.
The Central Texas housing inventory is extremely tight and will likely continue to remain so heading into 2021. With my Keller Williams network I have a proven history of helping clients navigate seemingly challenging situations - even with the current COVID-related sensitivities. Things are beginning to ramp up with an eye for an even stronger spring 2021 market. Contact me and let's address any concerns and how we can keep your goals and the current market conditions working to your advantage!
Thanks for reading the November market statistics - please reach out with any questions. December housing metrics will be released mid January 2021. In the meantime stay happy and healthy and all our best for a magical holiday season!
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
On The Move?
Search, save, collaborate, and more with the KW App - it's highly rated with 4.8 stars with more than 63K ratings!
Text “KWCP11X” to 87778 to download.
Let's see the app in action: