AUSTIN, Texas — Another month, another set of record-breaking real estate numbers. The Austin Board of Realtors' (ABoR) April Central Texas Housing Report shows a 37% jump for home sales year over year in the Austin-Round Rock area.
"One year ago, shelter-in-place orders effectively ground real estate transactions to a halt, leaving uncertainty in the market," ABoR 2021 President Susan Horton said. "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."
Residential home sales in the Austin-Round Rock area hit a record for the month of April, increasing 37.2% year over year to 3,604 sales. The median sales price rose 41.6% year over year to an all-time high of $460,000.
In Austin specifically, low levels of inventory drove the median home price up 31.7% year over year to $550,562 – an all-time high for any month on record.
In the Austin-Round Rock area, homes spent an average of 17 days on the market in April, 28 fewer days than in April 2020.
Active listings also fell 69.5% year over year and, consistent with the first months of this year, housing inventory fell 1.5 months from April 2020 to 0.5 months of inventory. Meanwhile, pending sales jumped 50.4% to 3,920 pending sales and new listings increased 32.6% to 4,654 new listings.
"Austin-area housing inventory was slightly higher in April than in March, and the pace of home price appreciation month to month is slowing, indicating that the rush on the housing market at the beginning of the year could be easing," Horton said. "While the home-buying process continues to be complex and it’s common to submit several offers before one is accepted, there is hope and optimism for the months ahead."
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