September 2020 market statistics for the Central Texas area have been released by The Austin Board of Realtors® (ABoR). Below are highlights for the Austin-Round Rock MSA and Williamson County. And spoiler alert: another strong-performing month for Central Texas real estate!
Due to decreased activity during the COVID pandemic shelter-in-place orders, the summer selling season extended into September and the Austin-Round Rock MSA experienced a double-digit increase by soaring 31.5% in growth vs. 2019.
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 12% to $355,000 and residential sales increased 31% to 3,892 sales. New listings were up 5%, active listings decreased 49% to 3,708 listings and pending sales increased 28% to 3,767. As with June through September, monthly housing inventory decreased again to just 1.2 months 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.
In Williamson County residential sales increased by 29% to 1,306 sales, and the median price rose 9% to $318,050. New listings decreased 10% to 1,035 listings, while active listings decreased by 66% to 816 listings. Pending sales jumped 33% to 1,266 total pending sales. Housing inventory declined by 1.6 months to just 0.8 months of inventory also well below the Real Estate Center at Texas A&M University’s benchmark of 6 months to maintain a balanced housing market.
Thinking of moving to Austin's suburbs? Romeo Manzanilla, ABoR president, said: “Austin's suburban markets have historically offered housing stock at lower price points that created opportunity for people when buying or renting inside Austin city limits was not an option. Now, these markets are showing the same gains in prices and declines in inventory as we’re used to seeing inside Austin, putting pressure on the market as a whole.” Austin's housing inventory is definitely tight and I have a proven history of helping clients navigate seemingly challenging situations - even with the current COVID-related sensitivities. Contact me and let's address any concerns and how we can keep your goals and the current market conditions working to your advantage!
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Thanks for reading the September market statistics - please reach out with any questions. 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