Compared to February numbers, the median home price in the Southwest Austin region increased by $45,000 and was up 32.8% year over year, according to the latest report by the Austin Board of Realtors.
Across the entire Austin-Round Rock metropolitan area, the median home price reached $425,000, up 29.8% compared to 2020. The Austin-Round Rock area also saw a 13.1% year-over-year increase in home sales in March, setting a record for the month, according to ABoR.
However, low housing inventory paired with February’s winter storm slowed sales in Southwest Austin. Southwest Austin’s 384 closed sales in March were 3.3% less than March 2020 sales, according to data. Year-over-year sales in Southwest Austin through March are down by 10.8%.
March was the fourth consecutive month to have 0.3 months of inventory on the market with 116 active listings, according to ABoR.