July Market Update

  • Jessica Philpot
  • 07/24/20

June Home Sales Rebound Across Austin Area; Sales Decline in First Half of 2020 Due to Covid-19 

AUSTIN, Texas—Home sales in the Austin-Round Rock Metropolitan Statistical Area (MSA) rebounded this June with a 9.3% increase year over year, which helped hold sales to only a 5.2% decline during the first half of 2020 as the market was impacted by COVID-19, according to the Austin Board of REALTORS® (ABoR) June and Midyear Central Texas Housing Market Report. 

City of Austin 

In the City of Austin, home sales in the first half of the year decreased 13.6% year over year to 5,291 sales, while the median price rose 9.7% to $406,000. At the same time, sales dollar volume decreased by 6.2% to $2,621,719,744. New listings dropped 9.7% to 7,498 listings; active listings declined 21.8% to 1,398 listings; and pending sales also fell 8.9% to 6,201 pending sales.
 
In June 2020, there were 1,163 home sales, down 5.3% year over year. Last month, sales dollar volume inched up by 0.2% to $588,734,242, while the median price slightly increased 3.3% to $407,000. During the same period, new listings decreased 5.3% to 1,448 listings; active listings tumbled 26.4% to 1,520 listings; and pending sales jumped 21.7% to 1,478 sales. Housing inventory decreased 0.4 months to 1.6 months of inventory. 

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