Central Austin median home prices hit another record high at $675,000 in April

Photo of a house in construction on E. 4th street
Central Austin home prices reached a median of $675,000 in April. (Olivia Aldridge/Community Impact Newspaper)

Central Austin home prices reached a median of $675,000 in April. (Olivia Aldridge/Community Impact Newspaper)

Median home prices in Central Austin increased $100,000 in the course of a year, reaching a new peak of $675,000 in April, according to data from the Austin Board of Realtors, up from a median of $575,000 in April 2020.

Housing prices dipped in Community Impact Newspaper’s Central Austin area last spring as stay-at-home orders stalled the city’s real estate market, with the median price declining to $525,000 by June before rebounding in the second half of 2020. The area’s median price has risen each month in 2021 so far, exceeding $600,000 every month since February.

“One year ago, shelter-in-place orders effectively ground real estate transactions to a halt, leaving uncertainty in the market,” said ABoR President Susan Horton in a news release. “Last month’s housing market activity demonstrates not only a strong recovery since last spring, but significant growth beyond that recovery.”

Central Austin’s housing market is the steepest in the Austin area, but high prices abound throughout the city and its suburbs. Citywide, April home prices reached a new record median price of $550,562, up 31.7% year over year. Realtors in Austin closed 1,167 sales in April, with 422 of them in Central Austin—a more than 75% increase from last year’s slow April.

The area’s persistently increasing home prices are due to seriously low housing inventory in and around Austin, ABoR said. At 0.9 months of inventory, Central Austin has more supply than the Austin-Round Rock metro at large, which has only 0.5 months.

However, Horton said a close look at inventory numbers month over month hint at a light at the end of the tunnel.


“Austin-area housing inventory was slightly higher in April than in March, and the pace of home price appreciation month to month is slowing, indicating that the rush on the housing market at the beginning of the year could be easing,” she said.

In Central Austin specifically, however, the pace of appreciation remained strong in April, with median prices increasing 8.8% from March, following a 3.3% increase between February and March.
By Olivia Aldridge
Olivia is the reporter for Community Impact's Central Austin edition. A graduate of Presbyterian College in upstate South Carolina, Olivia was a reporter and producer at South Carolina Public Radio before joining Community Impact in Austin.


MOST RECENT

Austin's downtown Palm District is home to several modern and historic landmarks, including the Palm School building now home to Travis County offices. (Ben Thompson/Community Impact Newspaper)
Residents lay out priorities for new Palm District area plan with project's engagement period underway

Through the planning process, feedback from Austin community members will contribute to the drafting of a Palm District Small Area Plan to be finalized and adopted by city officials next year.

Project Connect's proposed Orange Line will run from Tech Ridge, through downtown Austin and to Slaughter Lane. (Rendering courtesy Project Connect)
Project Connect Orange Line design reveals proposed locations for rail stations in North, South Austin

The latest Orange Line design shows potential elevated rail line over I-35, as well as options for the Drag.

Photo of a weird home
Austin's Weird Homes Tour says goodbye—for now

The tour's founders say they are open to a new local operator taking over the event.

The former hotel off I-35 had most recently been used as a COVID-19 homeless Protection Lodge. (Courtesy City of Austin)
East Cesar Chavez encampment residents move into former South Austin hotel

Through Austin's HEAL initiative, residents of an encampment near East Austin's Terrazas Branch Libarary were relocated to a South Austin shelter before that camp is cleared away.

The regional blood bank appealed for further donations in the wake of the June 12 shooting in downtown Austin. (Courtesy We Are Blood)
We Are Blood appeals for blood donations following weekend shooting in downtown Austin

The Central Texas nonprofit also said its blood supply remains depleted due to decreased donations through the COVID-19 pandemic.

Photo of a man holding robotic equipment
Tesla teams up with Austin Community College for manufacturing training and hiring program

The Tesla START program will hire and train ACC students to work with robotics and other advanced manufacturing equipment.

Austin City Council's Housing and Planning Committee met virtually June 15. (Screenshot via City of Austin)
Austin City Council members, city Realtors talk housing market increases and affordability

The median sale price of Austin homes surged past $500,000 through the first five months of 2021.

Izzy  is one of the 20 dogs in need of an emergency foster home. (Courtesy Austin Pets Alive)
Austin Pets Alive seeks emergency foster homes for dogs recovering from distemper

The Bastrop County Animal Shelter and Austin Pets Alive are seeking homes within the next 48 hours for 20 dogs facing euthanasia.

Community groups painted "Black Austin Matters" along three blocks of Congress Avenue in 2020. Juneteenth, an official city of Austin holiday as of 2020, commemorates the day Black residents of Texas found out they were free from slavery in 1865. (Community Impact Newspaper staff)
Juneteenth in Austin: Parade and fireworks information, other community events, city closures

The holiday commemorates the day Black enslaved residents of Texas were told they were free in Galveston in 1865.

The mid-June East Sixth Street shooting has prompted responses from city police, EMS and government officials. (Jack Flagler/Community Impact Newspaper)
Sixth Street fatal shooting leads to renewed discussions of public safety staffing, gun violence prevention in Austin

Increased police staffing, improved EMS availability, and state or federal action on gun violence prevention are among the proposals floated in the wake of the weekend shooting.

Plans to move forward with the design of a new Travis County women's jail have been postponed indefinitely. (Ben Thompson/Community Impact Newspaper)
Travis County pauses plans to build new women's jail

Commissioners voted unanimously to postpone any design or construction of new jail facilities for at least a year while staff re-evaluate the Travis County correctional system's needs.

Austin FC fans
Austin FC supporters groups release parade route ahead of inaugural home game

Motorists should look for pedestrians walking around near the site of Q2 Stadium ahead of Austin FC's June 19 inaugural home game.