The city reported a 46.9% year-over-year total dollar volume growth to $91.3 million sales, data shows. Georgetown also saw a 27.5% year-over-year rise in closed sales with 246 sales in January and an 18.3% year-over-year increase in median price to $331,100. Monthly inventory for Georgetown sits at 0.3 months, it said.
For Williamson County, residential sales increased 11.2% to 763 sales, and the median price rose 16.4% to $322,750. While the number of new listings declined 14.9% to 921 listings and active listings tumbled 85.9% to 252 listings, ending sales increased 5.3% to 1,059, it said.
Housing inventory for Williamson County also declined 1.5 months year over year to 0.2 months of inventory, data shows.
The trends seen in Georgetown and Williamson County are consistent with the five-county metropolitan statistical area, according to ABoR.
Across the metropolitan statistical area, home sales dollar volume skyrocketed 53.5% to $1.16 billion while pending sales increased 15.9% to 3,365 in January, data shows.
Despite 2,878 new listings in January—an 11% decline from 2020—active listings dropped 73.9% to only 1,369 properties across the region, it said.
The housing inventory also hit a record low, sitting at 0.4 months, down from 1.3 the year prior. This is 33 fewer days than in 2020, ABoR said.
Zonda Regional Director Vaike O’Grady said in the release that high demand across all price classes, housing types and geographies means low inventory and a lightning-fast market conditions are not going away soon.
“There is strength across every price point and demand for every product,” O’Grady said in the release. “Despite developers building as quickly as they can throughout the region and more than 6,000 homesites projected to come online within the next six months, the overall number of lots in development is only just able to keep up with current demand. This means that homes will continue to sell as soon as they hit the market, and prices will continue to rise steadily in the months to come.”