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Record number of homes sold in Austin-Round Rock metropolitan area in June, report says

Homes spent an average of 13 days on the market compared to 46 in June of 2020.

AUSTIN, Texas — A total of 4,369 homes sold in the Austin-Round Rock metropolitan area in June, the highest number ever, according to the Austin Board of REALTORS (ABoR) June and Midyear Central Texas Housing Market Report.

The record number of homes sold is contributing to an 8.6% year-over-year increase in the month of June. Homes spent an average of 13 days on the market compared to 46 in June of 2020.

The median price of homes hit a new record in June as well. It increased by 43% to $482,364, according to the report. The area’s inventory declined from 1.1 to 0.6 months’ worth.

“In June, and in the first six months of the year, we saw a confirmation that Austin’s housing market is one of the strongest in the nation,” ABoR president Susan Horton said in a press release. “Our market has established its own new normal, as median prices climb while inventory remains low. With the unprecedented growth our region continues to experience, we can expect these trends to continue.”

The record-setting number of sold homes contributed to the 19,991 home sales in the first half of 2021. Homes spent an average of 22 days on the market in the first half of 2021, 31 fewer days than in 2020.

The number of active listings in the area dropped 56.3% to 2,265, but the number of new listings increased 23.8% to 5,170 listings in June.

The five-county Austin-Round Rock Metropolitan Statistical Area includes Travis, Williamson, Hays, Bastrop and Caldwell counties.

“The pandemic has changed buyer preferences,” Vice President of Demographics and Behavioral Insights for the National Association of REALTORS Jessica Lautz said in the press release. “Reliable broadband access, at least one home office and flexible working and living spaces are top priorities. Remote work, along with incredibly low interest rates, has allowed buyers to purchase homes in suburban areas that provide more square feet, outdoor space, and increased buying power than in urban core areas.”

“While we’re encouraged that housing has led our region’s economic recovery, action must be taken to bring more units online to meet the demand for housing and address affordability,” Horton said. “Local leaders should collaborate regionally and with their state and federal partners to think creatively to address this complex issue. There is no ‘one-size-fits-all’ solution, but we must use all the tools available to us to employ an ‘all-of-the-above’ strategy. Addressing this challenge head-on and prioritizing housing will go a long way to ensuring that our local economy remains healthy, our market reaches a more balanced position, and more people have access to homeownership.”

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