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.
By Kelsey Thompson
Kelsey Thompson is the reporter for Round Rock, Pflugerville and Hutto, where her work focuses on education, city government and community development. Originally from upstate New York, Kelsey relocated to Austin after graduating from Syracuse University in May 2019.


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