Housing data in the Lake Travis-Westlake market, which contains the ZIP codes 78669, 78726, 78730, 78732, 78733, 78734, 78735, 78738 and 78746, also shows record breaking numbers, as the annual median price of $600,000 in 2019 is the highest it's ever been.
The ABOR report also shows monthly inventory in the Lake Travis-Westlake market decreased year-over-year by 0.4 months to 2.1 months in December 2019, which is the lowest for any December on record.
"Austin's unprecedented population growth during the past decade has heavily impacted the real estate market. Compared to 2010, home sales in 2019 increased by 84%," 2020 ABoR President Romeo Manzanilla said in a press release. "That type of exponential growth has put enormous pressure on the market, raising the median home price from $193,520 in 2010 to $318,000 in 2019. As we look forward to this year, the market is not showing signs of slowing down anytime soon.”