Austin, Texas Real Estate Market Update and Statistics November 2020
published on November 23, 2020
Austin-area Home Sales Grow by Nearly 30 Percent
Austin-area home sales increased 29.4 percent year over year in October 2020, according to the Austin Board of REALTORS® Central Texas Housing Market Report, the third consecutive month of double-digit sales growth. Median price increased 13.2 percent to a record high of $365,000.
Active listings fell to about half of those in October 2019, and inventory dropped 1.2 months to 1.1 months. About 6.5 months of supply is considered balanced by the Real Estate Center at Texas A&M University.
“Austin’s rank as one of the best places to live, work, and thrive in the country is evident by not only the growth of our housing market, but also by the growth of our local economy,” said Austin Chamber of Commerce President and CEO Laura Huffman. “Our region has a lower year-over-year job loss than any other major metro, and despite the pandemic, a record number of businesses have chosen to relocate to or expand in the region this year. We expect this growth—attributed to Texas’ business-friendly environment paired with Austin’s deep talent pool—will continue through 2021.”
October’s median sales price also was record-breaking in the city of Austin, increasing 13.1 percent to $441,250. Sales were up 22.7 percent compared to last October, while inventory dropped 0.4 months to 1.3 months.
In Williamson County, sales increased 36.9 percent year over year, while median price increased 11.4 percent to $323,115. Inventory dropped 1.6 months to 0.7 months.
In Hays County, sales increased 38 percent year over year, while median price increased 11.9 percent to $305,000. Inventory dropped 1.6 months to 1.3 months.
Austin-area October 2020 Sold Homes
- Number of sold homes: 3,780 (Up 29% compared to October 2019)
- Median sold price: $365,000 (Up 13% compared to October 2019)
- Days on the market: 35 (Down 19 days compared to October 2019)
Austin-area October 2020 Single-Family Homes on the Market
- New listings: 3,747 (Up 10% compared to October 2019)
- Active listings: 3,501 (Down 50% compared to October 2019)
- Pending sales: 3,829 (Up 28% compared to October 2019)
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