Austin Board of Realtors: "Historically low interest rates" drive February sales

In Round Rock, existing single-family home sales increased by 16.1% year over year, with a year-to-date average price of roughly $305,000, per the Austin Board of Realtors. (Courtesy Fotolia)
In Round Rock, existing single-family home sales increased by 16.1% year over year, with a year-to-date average price of roughly $305,000, per the Austin Board of Realtors. (Courtesy Fotolia)

In Round Rock, existing single-family home sales increased by 16.1% year over year, with a year-to-date average price of roughly $305,000, per the Austin Board of Realtors. (Courtesy Fotolia)

Market data provided by the Austin Board of Realtors in a March 19 news release showed 6.8% increase in residential home sales in the Austin-Round Rock Metropolitan Statistical Area between February 2019 and February 2020. According to ABoR data, home sales increased from 2,363 in February 2019 to 2,524 in February of this year, with an overall decrease of new home listings by 11.8% in the past year.

“Historically low interest rates are a driver in the market response we saw in February and will continue to act as a driver despite our shared concerns over the impact of COVID-19 in our community,” 2020 ABoR President Romeo Manzanilla said in the release.


In Round Rock, existing single-family home sales increased by 16.1% year over year, with a year-to-date average price of roughly $305,000. New construction of residential spaces in Round Rock, including single-family, townhouse and condominium offerings, decreased by 50% between February 2019 and February 2020, per ABoR data.

Townhouse sales remain on the rise in Pflugerville between February 2019 and February 2020, per ABoR, with a 100% year-over-year increase in closed sales and an average price of nearly $243,000.

109 new and existing single-family home sales have closed to date this year, marking a 12.4% year-over-year increase, according to ABoR data. Of those closed sales, the average single-family home price is reported at more than $245,000.


MOST RECENT

Retail businesses likely coming to acreage just east of Lake Pflugerville

A 4.7-acre plat of land located on the southeast corner of Weiss Lane and Jesse Bohls Road east of Lake Pflugerville has been rezoned to a retail district.

How healthy are these 5 Central Texas counties?

Williamson County ranked as one of the top counties in Texas and the top county in Central Texas when measuring length and quality of life. Travis County ranked next in the grouping.

The PfISD agreement comes as part of a yearslong initiative by Austin officials aimed at affordable early child care for Austin and Travis County residents. (Adobe Stock)
Austin officials allocate money to help underwrite Pflugerville classroom

Austin City Council on June 3 unanimously voted to send up to $16,000 to Pflugerville ISD to cover startup costs for a new pre-K classroom.

The “Click It or Ticket” enforcement period across Texas roads will start on May 24. (Courtesy Adobe Stock)
TxDOT will launch annual ‘Click It or Ticket’ campaign Monday, May 24

The campaign comes after a 2020 that saw a 16% increase in deaths of unbuckled motorists.

Wag-A-Bag is headquartered in Round Rock. (Megan Cardona/Community Impact Newspaper)
Wag-A-Bag to operate under new ownership, name; Austin, TxDOT at odds over I-35 overhaul; and more top Central Texas news

Read the most popular business and community news from the past week from the Austin area.