From June 2019 to May 2020, 3,770 homes were sold in Central Austin, a decrease of 6.34% from the previous year. However, average home values were up—jumping 6.14% from $586,390 to $622,380.
The most significant year-over-year drops were in the 78703, 78705 and 78756 ZIP codes, which cover the West Austin, West Campus and Burnet Road areas. Each of those neighborhoods saw double-digit percentage drops year over year. In total, there were 612 home sales in those three ZIP codes between June 2019 and May 2020, down from 727 the previous year.
While sales were down, prices continued to increase in the Central Austin area, seeing a particularly high jump around the downtown area. The 78701 ZIP code downtown and 78702 just to the east both saw average sales prices jump more than 10% year over year. In the 78705 ZIP code—the lowest-priced in Central Austin due to the number of condos and other different types of housing the West Campus area—the average sales price jumped 19.03%.