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Austin Housing Market Report | March 2021

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AUSTIN, TX—  High buying activity in March makes up for the February winter storm loss. More homes continue to sell, but it is becoming increasingly more difficult to find one. Over 3,600 homes were sold in the Austin-area, an all-time high for March, even though inventory neared zero at 0.4 months. The Georgetown and Round Rock areas are seeing even less inventory at 0.2 months. The market has become ultra-competitive, raising median home prices to a new record of $425,000, a 29% year-over-year increase.

“Lack of inventory is putting stress on the north side, where one home recently had 85 showings that resulted in about 40 offers,” said Jolene Weinstein, Head of Sales at Realty Austin.

In March, new listings decreased 1% to 4,206 listings, and active listings dropped 78% to 1,202 listings. Pending sales showed a double-digit increase of 42% to 4,200.

Austin is one of the fastest-growing metro areas in the nation. Many people working from home and job creators continue to seek opportunities in the Capital City. The Austin-area is seen as affordable and sustainable from the outside looking in, but locals are finding the shifting market to be increasingly unaffordable.

“Affordability in Austin is a focus the city and all the top businesses that are moving here need help with,” Weinstein states in a North Austin Growth Summit hosted by Austin Business Journal on April 14. Weinstein calls on city leaders to boost the number of homes and boost the number of affordable homes.

Single-Family Homes, Condos, and Townhomes

March 2020 vs March 2021


All Luxury Home Sales Over $1,000,000

March 2020 vs March 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.

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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