Per ABoR, March residential sales in the Austin-Round Rock metropolitan statistical area increased 2.2% year over year, with 3,042 sales and a median price jump of 11.7% year over year, now listed at $335,200. With shelter-in-place orders not fully in effect until March 24, effects on real estate data will likely not be determined until ABoR's April report, representatives confirmed in an April 16 news release.
“For most of March, it was still ‘business as usual,’ and REALTORS adapted early to continue serving homebuyers and sellers safely,” 2020 ABoR President Romeo Manzanilla said in the release. “Declines in listing activity and pending residential sales in March indicate that we won’t begin to see the true impact of COVID-19 on the housing market until our April report.”
In Round Rock, existing single-family home sales increased by 13.5%. year over year in March, with a median price marketed at $290,000. In the year to date, 313 closed sales on existing single-family homes have been made, per ABoR.
For Hutto's real estate scene, 116 single-family home sales have closed in the year to date, with a 4.2% inventory increase year over year in March. The median home price in Hutto was listed as $227,500, according to ABoR data.
“The approach to closing a home looks very different right now, but activity has not dipped,” said Lea Holubec, senior vice president of education and training for Heritage Title of Austin, in the release. “Homebuyers should be prepared for the closing process to take longer than usual due to COVID-19 safety precautions and be ready for additional employment verifications at closing, or even after closing, which many lenders are now requiring.”
Travis County data reflected the median price for residential homes increased 15.1% year over year, listed as $397,250, per ABoR. Williamson County also experienced an uptick in median residential home prices by 6.8%, now listed at $293,805, according to ABoR data.