“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 May 19 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 Round Rock, single-family closed sales experienced a 35.6% decrease year over year for April, per ABoR data. The average price of single-family homes increased 3.6% to nearly $331,000, while its median price jumped 5.7% to $300,000, per the data.
Pflugerville's real estate scene recorded an 11.7% downturn in single-family closed sales year over year in April, with the average price increasing 10% to more than $297,000. Townhouse closed sales decreased 50% in Pflugerville, with ABoR data revealing a 40.8% decrease in average price, listed as $132,000.
In Hutto, single-family sales dropped by 43% year over year, per ABoR findings. The city's average home price increased 8.3%, marked as $260,650. New construction on single-family homes decreased by 34.5% compared to April 2019, per the data.
Travis County's residential sales dropped 28.6%, while Williamson County's residential sales also experienced a 23.1% decline, per data. The median price for homes in Travis County increased 9.7% year over year to $395,000, while Williamson County's rose by 6.6% to $300,000.
“It could have been much worse," Manzanilla said in the release. "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.”
For more information on ABoR's April 2020 Central Texas Housing Market Report, click here.
