During a year that’s become one of the most vilified in history, Austin real estate saw strong growth despite unprecedented challenges. The latest real estate market report shows that home sales in December 2020 set an all-time record for the month. Sales dollar volume spiked and inventory has reached near zero months. The median sales price for residential real estate reached an all-time high as well, as buyers put up fierce competition over scarce inventory.
“Austin real estate demand is still reaching historic highs,” says David Brodsky, broker/owner of the eponymous Austin real estate brokerage. “We’re likely to see this demand continue, and perhaps even grow, through the summer.”
Brodsky also urges homebuyers to take action if they are considering listing their home. But don’t risk navigating this uniquely challenging market without a trusted expert. “Home sales are extremely competitive right now and I only see it becoming more challenging as we move closer to summer,” Brodsky says.
“Many homes are getting multiple offers within a day or less of being on the market. Sellers who are not working with a licensed agent will be tasked with negotiating their offers while taking on as little liability as possible. Working with a knowledgeable, experienced agent will help empower sellers to manage multiple offer situations and provide invaluable consultation in these extremely complex and unorthodox market conditions.”
December sales numbers demonstrate how competitive the market has become. In December, a record-breaking 3,626 homes were sold throughout the Austin-Round Rock Metropolitan Statistical Area. That month, home sales came to a total of $1,784,023,513 in volume across the Austin area.
“I can only imagine what the spring and summer selling seasons will bring for Austin real estate sales,” Brodsky said. “December has historically been one the slowest months for home sales as a result of the holidays and winter weather. But last December showed us that the Austin real estate market is not conforming to norms right now.”
December 2020 Real Estate Statistics
Austin-Round Rock MSA
- Residential home sales across the five-county MSA jumped 16.2% year over year to 3,626 sales, setting an all-time monthly record for December
- The median price increased by 15.8% to 370,000 an all-time record for the metro
- Sales dollar volume in December also increased 41.1% to $1,784,023,513
- Pending sales increased 40.8% to 3,114
- Housing inventory declined 1.1 months to a record-low 0.6 months of inventory for the MSA
- Homes spent an average of 36 days on market, 25 fewer than December 2019
City of Austin
- The median sales price in Austin rose 18.7% to $461,000, an all-time record for the month
- Residential sales increased 16.4% to 1,191 sales, also a record for the month of December
- Sales dollar volume jumped 43.1% to $711,984,698
- New listings jumped 31.3% to 755 listings
- Active listings decreased 33.6% to 753 listings
- Pending sales jumped 31.1% to 928 pending sales
- Monthly housing inventory decreased 0.4 months year over year to 0.7 months of inventory
Travis County
- Residential home sales increased 18.1% to 1,885
- Sales dollar volume spiked 46.5% to $1,137,805,715
- The median price rose 20.2% year over year to $435,000
- New listings jumped 29.5% to 1,216 listings
- Active listings dropped 54.9% to 1,038 listings
- Pending sales increased 38.6% to 1,537 pending sales
- Monthly housing inventory fell 0.8 months year over year to 0.6 months of inventory
Williamson County
- Residential sales in Williamson County increased 4.1% to 1,152 sales
- Sales dollar volume jumped 20.4% to $424,133,483
- The median price increased 14.3% to $326,650
- New listings jumped 15.6% to 784 listings
- Active listings tumbled 77.8% to 405 listings
- Pending sales increased 24.9% to 987 pending sales
- Housing inventory declined 1.4 months year over year to 0.4 months of inventory, which is the lowest inventory in the MSA
Hays County
- Residential home sales in Hays County increased 35.6% to 423 sales
- Sales dollar volume spiked 60% to $170,517,335
- The median price for homes increased 17.5% to $314,900
- New listings increased 11.6% to 279 listings
- Active listings dropped 64.8% to 297 listings
- Pending sales soared 73.5% to 399 pending sales
- Housing inventory decreased by 1.8 months to 0.7 months
Bastrop County
- Home sales climbed 57.5% to 137 sales
- Sales dollar volume soared 72.4% to $42,432,735
- The median price for residential homes increased 13.5% to $269,000
- New listings jumped 58.1% to 117 listings
- Active listings dropped 44.9% to 163 listings
- Pending sales skyrocketed 126.9% to 152 pending sales
- Housing inventory decreased by 1.8 months to 1.4 months of inventory
Caldwell County
- Home sales increased 61.1% to 29 sales
- Sales dollar volume increased 58.3% to $7,325,243
- The median home price increased 3.8% year over year to $212,850
- New listings climbed 47.1% to 25 listings
- Active listings dropped 45.7% to 51 listings
- Pending sales soared 160% to 39 pending sales
- Housing inventory decreased 2.0 months to 1.8 months of inventory
2020 Annual Real Estate Statistics
Austin-Round Rock MSA
- In 2020, the median sales price in the Austin-Round Rock MSA rose 9.2% to $344,000
- New listings decreased 0.4% to 43,816 listings
- Active listings declined 34.2% to 4,556 listings
- Pending sales jumped 13.1% to 42,371 pending sales
City of Austin
- Residential home sales hit an all-time high in Austin and increased 1.7% to 12,745 sales
- Sales dollar volume jumped 16.3% to $6,746,602,345
- The median sales price for residential homes rose 12% year over year to 420,000 this past year, another all-time record
- New listings slightly increased 1.1% to 14,735 listings
- Active listings dropped 23.8% to 1,332 listings
- Pending sales increased 3.8% to 13,062 pending sales
Travis County
- Residential home sales increased 4.3% to 20,081 sales
- Sales dollar volume rose 19% to $10,663,700,312
- The median price increased 12% year over year to $405,000
- New listings declined 1% to 22,744 listings
- Active listings dropped 32.6% to 2,226 listings
- Pending sales increased 8.1% to 20,986 pending sales
Williamson County
- Home sales increased 9.1% to 13,523 sales
- Sales dollar volume rose 17.7% to $4,603,742,735
- The median price for homes increased 7.7% to $307,000
- New listings dropped 2.9% to 13,794
- Active listings fell 41.4% to 1,322 listings in 2020
- Pending sales increased 12.6% to 14,158 pending sales
Hays County
- Home sales increased 21.9% to 4,864 sales
- Sales dollar volume rose 36.8% to $1,833,669,611
- The median price for homes increased 10.9% to $295,000
- New listings increased 6.6% to 5,220 listings last year
- Active listings fell 30.3% to 657 listings compared to 2019
- Pending sales increased 31.7% to 5,330 pending sales
Bastrop County
- Residential home sales increased 20.8% to 1,350 sales
- Sales dollar volume rose 35.1% to $395,575,892
- The median price for homes increased 10% to $263,000
- New listings increased 9.3% to 1,654 listings
- Active listings fell 15.3% to 272 listings
- Pending sales jumped 34.6% to 1,524
Caldwell County
- Residential home sales increased 15.7% to 347 sales
- Last year, the median residential home sales price increased 7.1% year over year to $212,500
- Sales dollar volume jumped 23.9% to $82,877,777
- New listings slightly dropped 1.9% to 404 listings
- Active listings decreased 20.4% to 78 listings
- Pending sales jumped 24.3% to 373 pending sales in 2020
Reach out to David Brodsky Properties for insight into community home sales performance and prices. We’re here to help you develop and execute your successful real estate strategy for 2021.