July home sales, prices jump in San Marcos-Buda-Kyle market

According to a July report from the Austin Board of Realtors, July closed home sales in the San Marcos-Buda-Kyle area have jumped 17.5% year over year to 363 total closed sales.

The market has also saw a 9.5% year-over-year increase in cost, as the average home price for July stood at $286,853, and the median home price was $262,000—a 9.2% jump over last year.

According to the ABoR report, residential sales in Hays County increased 32.8% to 555 sales, and sales dollar volume increased 59.3% to $224.31 million.

Overall, the Greater Austin metropolitan statistical area, which includes the San Marcos-Buda-Kyle market, has posted its second consecutive month of strong home sales numbers with a 21.5% increase in July sales year over year.

In addition to the 21.5% jump to 4,537 home sales across the five-county MSA, the median price increased 10.7% to $353,000, and the sales dollar volume also increased 36.7% to $2.04 billion.

“July was a very encouraging month for the Central Texas housing market,” 2020 ABoR President Romeo Manzanilla said. “Strong home sales, combined with an increase in new listings and pending sales, are important benchmarks when analyzing the health of our market. A healthy housing marketing is vital to the overall economic recovery in the region, and with two consecutive months of positive numbers, we are growing more confident that this is sustainable and can help be the spark that gets our economy back on track.”