In a June housing market report, the five-county Austin-Round Rock Metropolitan Statistical Area saw a 9.3% year-over-year increase in home sales. This helped hold sales to only a 5.2% decline during the first half of 2020, it said. A total of 3,969 homes were sold in the MSA in June, bringing up the median price by 4.6% to $340,000, per the report. Sales dollar volume also increased 13.1% to $1,674,070,282, it said.
“Strong home sales in June are good news for the real estate market across the region,” ABoR President Romeo Manzanilla said in a news release. “The increased sales last month helped limit the impact of the pandemic on the first half of the year overall. Increased pending sales signal a strong month of sales in July, but we have to remain cautious as Texas experiences a spike in COVID-19 cases and [as] we are seeing shrinking housing inventory.”
Despite an increase in pending sales, new listings dropped 5.4% to 4,170 listings, and active listings dropped 32.2% to 5,300 listings, it said.
In Georgetown, double-digit, year-over-year growth returned for a few figures in June.
In June, Georgetown saw a 12.3% year-over-year increase in residential home sales—including single-family housing, condominiums and townhomes—closing on 164 homes, data shows. The median price remained flat year over year at $275,000, it said.
Georgetown saw 119 existing home sales and 45 new construction sales, the report said.
In Williamson County, home sales in the first half of 2020 declined 3.6% year over year to 5,767 home sales, data shows.
Sales dollar volume remained flat at $1,877,370,936, and the median price increased 2.8% to $291,920, the report said. New listings decreased 4.8% to 7,325 listings; active listings dropped 19.2% to 1,803 listings; and pending sales increased 6% to 6,958 pending sales, it said.
In June, home sales increased 16.1% year over year to 1,352 home sales, and the median price increased 4.9% to $304,090, per the report.
New listings increased 2.1% to 1,400, while active listings tumbled 35.1% to 1,615 listings. Pending sales spiked 41.7% to 1,605 pending sales, it said.
“There are plenty of unknowns in the months ahead, but June home sales across the MSA being up 9.3% YoY was tremendous when considering the strength of 2019. And while home sales declined throughout the Austin-MSA during the first six months of 2020, we are still on track for a strong year,” said James Gaines, chief economist for the Real Estate Center at Texas A&M University, in the release.