Economy | Market Statistics | Real Estate

Austin Housing Market Report | March 2020


Read time: 2 minutes

Austin Real Estate Market Statistics

Austin home sales hold strong in March

AUSTIN, TX— Local shelter-in-place orders that went into effect on March 24 had little impact on March 2020 home sales. In the Austin-Round Rock area, sales in single-family homes, condos, and townhomes increased 2% year over year to 3,042 closed sales and median price jumped 11% to $335,200. During the same period, monthly housing inventory declined by 0.7 months to 1.6 months and total dollar volume increased to $1,276,605,450.

“For most of March, it was still ‘business as usual,’ and REALTORS® adapted early to continue serving homebuyers and sellers safely,” Romeo Manzanilla, Realty Austin’s Broker in Charge and 2020 ABOR President, said. “Declines in listing activity and pending residential sales in March indicate that we won’t begin to see the true impact of COVID-19 on the housing market until our April report.”

In March, new listings decreased 12% to 3,770 listings, and active listings dropped 26% to 4,908 listings. Pending sales also showed a double-digit decrease of 19% to 2,852.

While there has been a slowdown in real estate traffic, experts have indicated that Austin’s housing market is expected to survive the COVID-19 pandemic.

“Like REALTORS®, sellers should remain cautiously optimistic during this time. Austin-area homebuyers are still looking to buy homes, and fewer homes on the market means stronger demand and increased visibility for your property,” said Manzanilla, “Despite the challenges of COVID-19, we’re still in a seller’s market and sellers should be encouraged to list their homes.”

Single-Family Homes, Condos, and Townhomes

March 2019 vs March 2020

March 2020 Single Family Homes, Condos, and Town Homes Snapshot

All Luxury Home Sales Over $1,000,000

March 2019 vs March 2020

March 2020 Luxury Home Sales Real Estate Snapshot

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.

Try the new RealtyAustin.com

Modern. Mobile. Map-centric.

For the last year, we’ve been reimagining the home search experience in a new mobile-friendly, map-centric website designed to help you and your co-buyer collaborate on your favorite listings and share comments with each other. Save your search and get notified the moment your dream home hits the market.

Just Reduced

Related Posts

INSTAGRAM

Are you looking for the most up-to-date and easy-to-use home search website in Austin? You’re in the right place! Explore RealtyAustin.com, Austin’s #1 home search website. Check out the full home search video on IGTV or use the #RAlinkinbio. Find your next home today! 🏘️ 💻 📱 #realtyaustin #makethemove #austinrealestate⁠⠀ ...

@foundationcommunities is on a mission to end the affordable housing crisis that many Austin residents face, now more than ever. Realty Austin, Co-Owner, @yvetteboatwright sits down with Foundation Communities CEO, Walter Moreau to discuss the program's community initiatives to provide safe affordable housing while enhancing the quality of life for the community members in need. Get involved and watch the full interview using the #RAlinkinbio ❤️ 🏡 #ouraustinpledge #realtyaustin #foundationcommunnities #affordablehousing ...

Realty Austin is honored to be ranked #3 on the Austin American-Statesman‘s 2020 @topworkplaces of Greater Austin list! 🏆🎉 Rated in areas of leadership, ethics, values, and treatment of employees, we are proud to be on this list for the ninth year in a row. Check out the #RALinkInBio to learn more about why Realty Austin is consistently voted a Top Workplace! #topworkplaces #realtyaustin #realtyawesome ...

Pin It on Pinterest