Austin, Texas Real Estate Market Update and Statistics January 2020
published on January 20, 2020
Austin-area Breaks Residential Real Estate Record in 2019
More Austin-area homes sold in 2019 than any other year on record, according to the Austin Board of REALTORS® December and Year-End 2019 Central Texas Housing Market Report.
“Austin’s unprecedented population growth during the past decade has heavily impacted the real estate market,” said ABOR President Romeo Manzanilla. “Compared to 2010, home sales in 2019 increased by 84 percent. That type of exponential growth has put enormous pressure on the market, raising the median home price from $193,520 in 2010 to $318,000 in 2019. As we look forward to this year, the market is not showing signs of slowing down anytime soon.”
Independence Title State Director of Information Capital Mark Sprague said Austin is only one of eight United States metro areas that have fully recovered over the last 10 years to pre-recession values. “Austin’s GDP, which grew 117 percent over the last 20 years, helped the real estate market recover from the recession. The closest metro out of the top 50 in the U.S. to see this type of growth was Silicon Valley, which grew its GDP by 99 percent during the same period.”
Here are residential real estate breakdowns for December 2019 and for the year:
Austin-Round Rock MSA
Sales volume increased 9.2 percent compared to December 2018. Median price increased 7.1 percent to $323,000. Inventory declined by 0.5 months to 1.7 months
Austin-area December 2019 Sold Homes
- Number of sold homes: 2,608 (Up 9% compared to December 2018)
- Median sold price: $323,000 (Up 7% compared to December 2018)
- Days on the market: 59 (Down 8 days compared to December 2018)
Austin-area December 2019 Single-Family Homes on the Market
- New listings: 1,580 (Down 5% compared to December 2018)
- Active listings: 4,803 (Down 15% compared to December 2018)
- Pending sales: $2,055 (Up 11% compared to December 2018)
Sales volume increased 7.2 percent compared to 2018. Median price increased 2.6 percent to $318,000. New listings increased 1.4 percent, active listings decreased 4.3 percent, and pending sales increased 10.5 percent.
City of Austin
Sales volume increased 8.9 percent compared to December 2018. Median price increased 8 percent to $405,093. Inventory declined .5 months to 0.9 months of inventory.
Sales volume increased 1.8 percent compared to 2018. Median price increased 5.3 percent to $395,000.
Sales volume increased 14.1 percent compared to December 2018. Median price increased 4.3 percent to $290,280. Inventory declined 0.5 months to 1.8 months.
Sales volume increased 10.5 percent compared to 2018. Median price reached $287,774.
Sales volume increased 2.2 percent compared to December 2018. Median price increased 1.5 percent to $269,000. Inventory declined 0.2 months to 2.6 months.
Sales volume increased 6.9 percent compared to December 2018. Median price increased 1.8 percent to $268,000.
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