The report states the MSA experienced a 29.4% increase to 3,780 in October home sales year over year, while homes continued to sell faster and at higher price points than ever before.
In the San Marcos-Buda-Kyle market, total residential sales are almost as strong as MSA numbers and are showing 23.5% year-over-year growth from October 2019 to October 2020.
“The continued stability and strength of our market will be crucial heading into 2021," 2020 ABoR President Romeo Manzanilla said in a press release. "As we come to the end of a challenging year, I’m proud of the work that Austin realtors have done to stabilize and grow our market.”
Also trending up year over year in the San Marcos-Buda-Kyle area are median home prices, which rose 6.5% to $259,000, and the price per square foot, which jumped 13.5% to $151.
With those numbers, Manzanilla said most property owners should not expect any relief for their wallets, at least not with regard to taxes.
“Combined with rising home values, increasing demand and limited inventory, homeowners should be prepared for their property taxes to continue to increase regardless of tax rates,” he said.
