The number of residential homes sold in July across the Austin-Round Rock metropolitan area decreased 9.9 % when compared to the same time period in 2020, but according to the monthly Austin Board of Realtors Central Texas Housing report, that decrease was largely due to the fact that July 2020 was a record-breaking month.
“July 2020 established the all-time high watermark for home sales in the region due to pent-up housing demand after several months of stay-at-home orders and increased consumer purchasing power,” Susan Horton, 2021 ABoR President, said in a statement released along with the report. “As we have moved away from the post-COVID boom, the market has begun to stabilize.”
While the number of homes sold fell in the ABoR’s year-over-year comparison, the median price of a home in the five counties that makeup the Austin-Round Rock area increased 37.1% to $480,000. That is a record for the month of July, according to the ABoR report.
In west Travis County, the Lake Travis-Westlake region saw a median price increase of 34.4% to $871,000. The region includes the cities of West Lake Hills, Bee Cave and Lakeway, and as a group, saw the total number of homes sold drop 23.3% when compared to July 2020. That is a significantly larger drop than the 9.9% decrease for the metro area.
