Austin, Texas Real Estate Market Update and Statistics February 2021
published on February 25, 2021
Austin-area Homes Sales Up 24 Percent in January
Home sales in the Austin-Round Rock Metropolitan Statistical Area increased 23.9 percent year-over-year in January 2021, while median price increased 19 percent to $365,000, according to the Austin Board of REALTORS® Central Texas Housing Market Report. Housing inventory dropped 1.3 months to a record-low 0.4 months of inventory, approximately six months short of what is considered a balanced market, according to the Real Estate Research Center at Texas A&M University.
Additionally, ABOR President Susan Horton said recent winter storms are likely to increase Central Texas housing demand. “While it will be weeks before we know the full impact of the winter storms on our communities, the disruption in transactions and the high demand for repair services will further complicate an already complex housing market. It is of the utmost importance to have a REALTOR® on your side to help you understand all options available to you. That includes down payment resources and ways that you can bridge the gap between selling your home and buying your next one.”
She said, “The last week has shown us, once again, that our homes are more important than ever.”
In the city of Austin, home sales increased 23.8 percent to 811 sales in January 2021, a record for the month. Median sales price increased 19.7 percent to $455,000, also a record for the month of January. Housing inventory dropped 0.6 months to reach 0.5 months of inventory.
Zonda Regional Director Vaike O’Grady said high demand across all price classes, housing types, and geographies means that low inventory and lightning-fast market conditions are not going away soon. “There is strength across every price point and demand for every product,” she said. “Despite developers building as quickly as they can throughout the region and more than 6,000 homesites projected to come online within the next six months, the overall number of lots in development is only just able to keep up with current demand. This means that homes will continue to sell as soon as they hit the market, and prices will continue to rise steadily in the months to come.”
In Williamson County, home sales increased 11.2 percent in January 2021. Median price increased 16.4 percent to $322,750, and inventory declined 1.5 months to a remarkably low 0.2 months of inventory.
In Hays County, home sales increased 50 percent in January 2021. Median price increased 18.1 percent to $301,250, and inventory declined by two months to 0.4 months.
Austin-area January 2021 Sold Homes
- Number of sold homes: 2,523 (Up 23% compared to January 2020)
- Median sold price: $365,000 (Up 19% compared to January 2020)
- Days on the market: 33 (Down 33 days compared to January 2020)
Austin-area January 2021 Single-Family Homes on the Market
- New listings: 2,878 (Down 11% compared to January 2020)
- Active listings: 1,369 (Down 73% compared to January 2020)
- Pending sales: 3,365 (Up 15% compared to January 2020)
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