Residential sales of single-family homes, condos and townhomes in the five-county Austin-Round Rock metropolitan statistical area—including Bastrop, Caldwell, Hays, Travis and Williamson counties—increased 2.2% year over year to 3,042 sales, data shows. The median price jumped 11.7% year over year to $335,200, it said.
“For most of March, it was still ‘business as usual,’” ABoR President Romeo Manzanilla, said in a news release. “Declines in listing activity and pending residential sales in March indicate that we won’t begin to see the true impact of COVID-19 on the housing market until our April report.”
He added that realtors were quick to adapt to serve homebuyers and sellers safely during the pandemic.
However, new listings, active listings and pending sales are all down, so it's likely there will be a decrease in April sales.
Data on new listings saw a decrease of 12.7% to 3,770 listings year over year, data shows. In addtion, active listings dropped 26.6% to 4,908 listings; and pending sales decreased 19.2% to 2,852 pending sales year over year, it said.
But even so, Manzanilla said home sellers should remain cautiously optimistic.
“Austin-area homebuyers are still looking to buy homes, and fewer homes on the market means stronger demand and increased visibility for your property,” Manzanilla said. “Despite the challenges of COVID-19, we’re still in a seller’s market and sellers should be encouraged to list their homes.”
In Williamson County, March residential home sales increased 0.4% to 1,007 sales and sales dollar volume increased 5.2% to $327,850,432, data shows. The median price for residential homes increased by 6.8% to $293,805, it said.
New listings declined 11% to 1,202 listings and active listings dropped 28.8% to 1,520 listings. Pending sales decreased 19.9% to 976 pending sales and housing inventory declined 0.8 months year over year to 1.5 months of inventory, it said.
Homes spend 57 days on market and Williamson County has a housing monthly inventory of 1.5, data shows.
For comparison, Travis county residential home sales increased 0.4% to 1,545 sales and sales dollar volume increased 11.8% to $783,614,704, data shows. The median price for residential homes jumped 15.1% year over year to $397,250, it said.
During the same period, new listings decreased 12.6% to 2,004 listings; active listings decreased 30.5% to 2,277 listings; and pending sales decreased 22.6% to 1,393 pending sales, data shows. Monthly housing inventory decreased 0.7 months year over year to 1.4 months of inventory, it said.
Homes spend 47 days on market and Travis County has a housing monthly inventory of 1.4, data shows.