Georgetown sees decrease in home sales as impact of coronavirus felt on housing market

Austin-area home sales declined across most of the region in April as the full impact of the coronavirus pandemic and local shelter-in-place orders was felt in the housing market, according to a May 19 Austin Board of Realtors Central Texas housing market report.

Compared to April 2019, residential sales in the five-county metropolitan statistical area decreased 21.6% to 2,611 sales, while sales dollar volume fell 18.3% to $1.06 billion, the report said.

There was also a 7.3% decline in active listings to 6,349 listings, which drove housing inventory down further to 2.1 months, 0.2 months lower than this time last year, the report said. At the same time, median sales price increased 3.2% to $325,000, and homes spent nine fewer days on the market, or an average of 43 days, it said.

“We anticipated a sharp decline in April home sales activity, as it directly correlates with the decline in listings activity recorded in March due to government stay-at-home orders,” ABoR President Romeo Manzanilla said in a news release. “Even with the impact on home sales, homes still spent less time on the market and sold at higher prices than last April. Austin’s housing demand is undeterred, and possibly strengthened by declining inventory.”

In April, Georgetown saw a 28.18% decrease in residential home sales—including single-family, condo and town homes—year over year, closing on 105 homes, data shows. The median price, however, increase 3.4% year over year, data shows.


Georgetown saw 73 existing home sales and 33 new construction sales, it said.

In Williamson County, April residential sales decreased by 23.1% to 887 sales, and sales dollar volume declined 19.2% to $292,880,025, the report said.

The median price showed rose by 6.6% to $300,000, it said.

New listings declined 16.4% to 1,140 listings, while active listings slightly decreased 4.4% to 2,046 listings, data shows. Pending sales decreased 17.8% to 982 pending sales. The housing inventory also declined 0.2 months year over year to 2.0 months of inventory, it said.

Even with these numbers, Manzanilla remains optimistic about the resiliency of Austin-area housing market.

“It could have been much worse. Efforts to recognize real estate as an essential business helped lessen the negative impact of the pandemic during April; now listing and showing activity are already on the rise again. We’re hopeful this growth will continue in the coming weeks and months,” he said.


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