In December, closed residential sales grew 23.5% with 399 homes closed, and dollar volume increased 50.5% year over year, raking in $164.08 million, data shows.
The median price of homes also rose by 17.1% year over year to $360,000, and the city ended the year with 0.6 months of inventory, it said.
“The Central Texas housing market is incredibly competitive and moving at lightning speed right now,” ABoR President Susan Horton said. “The complexity of a home sale is at an all-time high as it has become commonplace for homes to receive multiple offers well over list price.”
Williamson County also ended the year on a high note.
In December, Williamson County saw residential sales increase 4.1% to 1,152 sales, and sales dollar volume jumped 20.4% to $424.1 million, data shows. The median price for a home increased 14.3% to $326,650, and the housing inventory declined 1.4 months year over year to 0.4 months of inventory, it said.
In 2020, while the number of new listings in Williamson County dropped 2.9% and active listings dropped 41.4%, home sales volume rose 17.7% year over year to $4.6 billion, it said. The median price also increased 7.7% to $307,000.
Overall, the five-county Austin-Round Rock metropolitan statistical area broke records at the close of 2020, with 40,165 homes sold for more than $17.5 billion in sales volume, it said.
In December alone, home sales in the area jumped 16.2% year over year with 3,626 sales, a record for any December, it said. The median price also increased by 15.8% to $370,000, which is also an all-time high, it said.
“This is a historical and unprecedented time for our housing market,” Horton said. “The pandemic only increased demand for all types of housing across the region, pushing inventory to near-zero levels and creating the strongest sellers’ market [ABoR Realtors] have ever seen.”