In October, Williamson County residential sales increased by 36.9% year over year, with 1,265 sales, data shows. The median price also increased by 11.4% to $323,115, and housing inventory declined year over year from 1.6 months to 0.7 months of inventory, per the data.
“The continued stability and strength of our market will be crucial heading into 2021,” ABoR President Romeo Manzanilla said in a news release.
This is the third consecutive month for double-digit home sales growth in the Austin-Round Rock Metropolitan Statistical Area, which saw an all-time-high median sales price increase of 13.2% to $365,000, and sales dollar volume jumped by 55.3% to $1,778,706,460 for the MSA, data shows.
“Our region has a lower year-over-year job loss than any other major metro, and despite the pandemic, a record number of businesses have chosen to relocate to or expand in the region this year,” said Laura Huffman, CEO of the Austin Chamber of Commerce, in the release. “We expect this growth—attributed to Texas’ business-friendly environment paired with Austin’s deep talent pool—will continue through 2021.”
In Georgetown, residential home sales increased by 45.3% year over year in October, according to the data. This includes single-family housing, condominiums and townhome sales, it said.
A total of 361 home sales were closed in October, data shows.
The median price also increased by 10.9% year over year to $335,450, data shows. Georgetown currently has 1.1 months of inventory.
While major transportation updates in Austin seek to improve traffic up and down the Central Texas I-35 corridor to accommodate growth, Huffman warned that growth requires balance.
“Despite [the growth] in 2021, the region needs to address housing affordability to help people from being priced out of the market, even as salary and job growth continues,” Huffman said.
