In the greater Austin Metropolitan Statistical Area, which encompasses several counties including Hays, Travis and Williamson, the median home price has reached $465,000 for the month of May.
In the Round Rock-Pflugerville-Hutto area, the median price for homes in May is not far from the Austin MSA at $450,000. That figure represents an uptick of 54.7% from May 2020.
It is also higher than the market in Williamson County as a whole, where ABoR data show the median price rose 50% to $435,000
Also of note, the release states active listings throughout the Austin MSA dropped 70.9% year over year to 1,739 listings, demonstrating how quickly homes are going under contract. Homes only spent an average of 16 days on market last month across the MSA, but in the Round Rock-Pflugerville-Hutto area homes only spent an average of 8 days on the market in May.
“Austin’s housing market has become one of the most competitive markets in the U.S.,” 2021 ABoR President Susan Horton said in the release. “As new companies relocate to Austin and the city’s popularity draws in new residents, the sheer demand for housing has created a critical inventory shortage, reinforcing that affordability and accessibility to housing across our region is a real concern and should be a top priority for local leaders.”