AUSTIN, TX — Home sales in Austin soar by double digits as median sales price nears half a million. One year after the beginning of the pandemic, the Austin housing market continues to demonstrate strong recovery and significant growth beyond recovery. Over 3,600 homes were sold in the Austin-area with inventory nearing zero at 0.5 months. Homes continue to sell over asking price, raising median home prices to a new record of $460,000, a 42% year-over-year increase.
“Austin-area housing inventory was slightly higher in April than in March, and the pace of home price appreciation month to month is slowing, indicating that the rush on the housing market at the beginning of the year could be easing,” Susan Horton, 2021 ABoR President, said.
In April, new listings increased 33% to 4,654, and active listings dropped 70% to 1,901. Pending sales showed a double-digit increase of 50% to 3,920.
While sellers are continuing to close above list price, buyers in the Austin Housing market are looking to their trusted REALTORS® to help them win offers in this ultra-competitive market. While it is common to submit multiple offers on a home before one is accepted, the market has become too complicated to navigate alone.
John Schutze, regional director, and senior home loan officer at Texas Loan Experts, stated “Homebuyers are having to get creative as the Austin housing market continues to be competitive. Potential buyers must be prepared to have a source of extra funds to make up for potential appraisal shortages but also need to understand that cash isn’t always king when it comes to catching a seller’s eye. As interest rates look to hold steady for the foreseeable future, buyers need to be prepared for the long haul and need to work with a REALTOR® who can help explain the need to be bold and also help you put together the most attractive offer depending on the home and situation.”
Single-Family Homes, Condos, and Townhomes
April 2020 vs April 2021
All Luxury Home Sales Over $1,000,000
April 2020 vs April 2021
These statistics are for single-family homes, condos, and townhomes across the Austin-Round Rock Metropolitan Statistical Area (MSA). If you would like similar statistics for a specific area, property type, or price range, please contact us and tell us how we can help. Use our new market snapshot tool for a comprehensive analysis of your home’s value in today’s market, or call us for an analysis of comparable homes sold.
Don’t hesitate to list your home. Realty Austin has partnered with Homeward to Offer a Cash Bridge program so homeowners can make a competitive cash offer on their next home, move on their timeline, and sell their current home for top dollar.
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