Home sales in the region hit a record for the month of April, increasing 37.2% year over year, while the median selling price rose 41.6% a year to year.
AUSTIN, Texas – Another month, another set of real estate record numbers. the Austin Real Estate Board‘(ABoR) April Central Texas Housing Report shows a 37% jump in year-over-year home sales in the Austin-Round Rock area.
âA year ago, shelter-in-place orders effectively ended real estate transactions, leaving market uncertainty,â said ABoR 2021 President Susan Horton. “While striking at first glance, housing market activity last month demonstrates not only a strong recovery from last spring, but significant growth beyond that recovery.”
Residential home sales in the Austin-Round Rock area hit an all-time high for April, increasing 37.2% year over year to 3,604 sales. The median selling price increased 41.6% year over year to an all-time high of $ 460,000.
In Austin in particular, low inventory levels pushed the median home price up 31.7% year-over-year to $ 550,562 – an all-time high for a month.
In the Austin-Round Rock area, homes spent an average of 17 days in the market in April, 28 days less than in April 2020.
Active listings also fell 69.5% year-over-year and, consistent with the first months of this year, the housing inventory fell from 1.5 months between April 2020 to 0.5 months in ‘inventory. Meanwhile, pending sales jumped 50.4% to 3,920 pending sales and new listings increased 32.6% to 4,654 new listings.
“The Austin area housing inventory was slightly higher in April than in March, and the pace of month-to-month home price appreciation is slowing, indicating that the rush to housing market at the start of the year could weaken, âsaid Horton. “While the home buying process remains complex and it is common to submit multiple offers before accepting one, there is hope and optimism for the months to come.”
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