One consistent vein runs throughout the entire market, however, partially due to the coronavirus pandemic: total home sales are down. Four of the six ZIP codes that Community Impact Newspaper’s Northwest Austin edition distributes to experienced double-digit percentage decreases in total homes sales from June 2019-May 2020 when compared to the year before.
Here is the Northwest Austin real estate market at a glance.
Average days on the market
Only one ZIP code in Northwest Austin—78758—saw its homes stay on the market for the same amount of time this year as they did last year. The rest of the market saw steep decreases in average days on market. The 78729 ZIP code, for instance, saw that number cut in half from the year prior. Houses in that ZIP code now stay on the market for an average of 16.66 days, down from 38.16 days last year.
Number of homes sold
As economic uncertainty persists because of the coronavirus pandemic, home sales across the entire Northwest Austin market are down. Romeo Manzanilla, 2020 president of the Austin Board of Realtors, said the pandemic has kept people from listing their homes.
“There is still hesitation to put homes on the market because of health concerns,“ Manzanilla said. “Some sellers are holding off because they feel they just can’t find a home.”
Average home sales price
The separate ZIP codes in Northwest Austin have seen different increases in average home sales prices in the past year. Most of the market has seen steady increases in home price averages. However, the 78758 ZIP code—previously considered to be one of the last affordable housing markets in the city of Austin—saw its average home price jump by 29.15% compared to the year prior.