Market Statistics | News

Austin Housing Market Report | December 2020


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Austin, TX – As Austin continues to rank high on “Best of U.S.” lists, population growth and increased demand have led to record-breaking sales dollar volume and homes sold in 2020 than any year. Central Texas REALTORS® sold 40,165 homes, generating $17.5 billion in sales dollar volume in 2020. When looking back at this year, Austin’s population growth has heavily impacted the real estate market. From 2010 to 2020, the median home price increased 91% from $193,520 to $370,000. While we look forward to 2021, experts believe that the market does not show signs of slowing down anytime soon.

In the Austin-Round Rock MSA, single-family home sales increased 16% year over year in December to 3,626. Total sales dollar volume experienced a double-digit increase of a record-breaking 41% to $1.78B. During the same period, active listings declined 63%, driving the median price for single-family homes to $370,000.

“This is a historical and unprecedented time for our housing market,” Susan Horton, 2021 ABoR president, said. “The pandemic only increased demand for all types of housing across the region, pushing inventory to near-zero levels and creating the strongest sellers’ market REALTORS® have ever seen. That said, if you are ready to buy a home, now is the time to take advantage of low mortgage rates that boost your buying power and plant roots in Central Texas.”

Single-Family Homes, Condos, and Townhomes

December 2019 vs December 2020

All Luxury Home Sales Over $1,000,000

December 2019 vs December 2020

Low housing levels have created an ultra-competitive market for eager buyers as new companies continue to relocate into the area. Dr. James Gain, the former chief economist for the Texas Real Estate Research Center, gives insight into the recent economic growth.

“The Austin-area, real estate market, is experiencing extraordinarily high demand fueled by years of high population growth and employment gains, lifestyle changes following the pandemic and record-low interest rates,” Gaines said. “The pandemic fostered an environment where many families increased personal savings, helping some transition from renting to ownership while others needed to ‘move up’ for more space while working from home. Despite a steep slowdown during shelter-in-place orders this spring, the market came roaring back in the summer with no drop-off at the end of the calendar year.”

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.

Get a comprehensive analysis of your home’s value in today’s market using Realty Austin’s new Market Snapshot tool.

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