Austin Housing Market Report | March 2020
  Economy | Market Statistics | Real Estate

Austin Housing Market Report | March 2020

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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.

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