While Austin continued to rank high on “Best of U.S." lists, Central Texas REALTORS® sold more homes in 2019 than any year on record, according to the latest Austin Board of REALTORS® (ABoR) analysis. The December and Year-End 2019 Central Texas Housing Market Report reflects a record-breaking 33,084 home sales and $13,158,737,333 in sales volume.
Population growth during the past decade was unprecedented and the impact shows in the final stats for the decade. Compared to 2010, home sales in 2019 increased by 84%, the median home price rose from $193,520 in 2010 to $318,000 in 2019. Austin is one of only eight U.S. metro areas to have fully recovered in the last 10 years to pre-recession values, Mark Sprague, state director of information capital at Independence Title, said. “Austin’s GDP, which grew 117% over the last 20 years, helped the real estate market recover from the recession,” he said. “The closest metro out of the top 50 in the U.S. to see this type of growth was Silicon Valley, which grew its GDP by 99% during the same period.” In the Austin-Round Rock MSA—now the 30th largest U.S. metropolitan area—the median price for single-family homes increased by 2.6% to $318,000 in 2019. During the same period, sales increased by 7.2% to 33,084 sales. New listings for the five-county MSA increased year over year by 1.4% to 39,309 listings in 2019. Active listings decreased 4.3% to 6,216 listings, but pending sales increased 10.5% to 33,976 pending sales. In 2019, Austin’s median home price increased by 5.3% to $395,000 compared to the previous year. During the same period, sales rose by 1.8% to 9,572 homes and sales dollar volume grew 6.9% to $4,678,400,967. In December, the median home price increased 8% year over year to $405,093 and sales increased 8.9% year over year to 738 home sales. Austin’s monthly housing inventory decreased in December from 0.5 months to 0.9 months of inventory.
(information courtesy of ACTRIS)
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