Median price of a Georgetown home nears $400,000

Central Texas continues to see residential home prices rise one year after the stay-at-home orders were implemented due to the coronavirus pandemic.

In April, home sales in the Austin-Round Rock metropolitan statistical area hit a record high, increasing 37.2% year over year to 3,604 sales, while the median sales price rose 41.6% year over year to an all-time high of $460,000, according to April Austin Board of Realtors data.

While the stay-at-home orders of April 2020 due to the coronavirus pandemic impacted sales and resulted in higher year-over-year percentage growth by comparison, median prices continue to rise, and inventory continues to remain low, data shows.

In Georgetown, residential sales increased 82.8% year over year and the median price rose 38.2% to $380,000. Georgetown also was reported to have 0.5 months of housing inventory, up 0.4 months of inventory from the month prior, the report said.

The average price per square foot of a Georgetown home is $195, up 32.2% from the year prior.

According to the data, Williamson County April home sales increased 34%, and sales dollar volume soared 92.3% to nearly $573.49 million. The median price rose 45.4% to $430,000.

In addition, housing inventory declined 1.5 months year over year to 0.5 months of inventory, it said.

“One year ago, shelter-in-place orders effectively ground real estate transactions to a halt, leaving uncertainty in the market,” ABoR President Susan Horton said in a news release. “Although striking at face value, last month’s housing market activity demonstrates not only a strong recovery since last spring, but significant growth beyond that recovery.”