“We’re seeing an incredible increase in sales activity across the Austin area and it’s not likely to stop in the immediate future,” said David Brodsky, broker/owner of the eponymous indy real estate brokerage. “People who have been considering a move to a new location are motivated by recent events to go where they can have a more ideal lifestyle than they had before. Austin’s suburbs offer larger, more affordable homes than the urban core, abundant amenities and plentiful job opportunities.”
Brodsky went on to point out the opportunity presented to suburban homeowners. “Having more land available to develop gives Austin’s surrounding communities the additional benefit of more available housing inventory. The available inventory is making the suburbs a very appealing place to shop for a home. Suburban homeowners considering a sale of their home, as well as those in the City of Austin, are strongly encouraged to leverage current buyer demand and increased sales prices.”
Home sales numbers in the areas surrounding Austin reflect Brodsky’s observation. Bastrop County showed the highest home sales increase with a nearly 70% spike in September home sales over the same time last year. Hays County followed suit with just over 50% more home sales this September than last. Williamson County showed a nearly 30% gain in home sales in September.
In a press release that accompanied the September sales stats, Romeo Manzanilla, 2020 ABoR president, pointed out the pressure that increased demand is having on suburban real estate markets. “The housing market is pumping billions of dollars into our region’s economy at a time it’s greatly needed, but we also need to be cognizant of the impact such rapid activity is having on record-low inventory levels and rising home prices,” he said.
Manzanilla then highlighted the need for more housing inventory to help balance the market. “Austin’s suburban markets have historically offered housing stock at lower price points that created opportunity for people when buying or renting inside Austin city limits was not an option. Now, these markets are showing the same gains in prices and declines in inventory as we’re used to seeing inside Austin, putting pressure on the market as a whole.”
“The Austin area needs more housing supply at all price points in order to stabilize home price growth and help make homeownership accessible, especially for first-time homebuyers,” Manzanilla explained. Combined with the remarkably-high home sales activity this September, Manzanilla’s words serve as strong motivation for would-be sellers to take advantage of heightened buyer activity throughout the Austin-Round Rock Metropolitan Statistical Area (MSA).
City of Austin September 2020 Real Estate Statistics
Within the City of Austin, critically-low housing inventory helped pushed the median home price up. Home sales increased during the same time, causing sales dollar volume to spike in September. New listings increased, but active listings plunged along with housing inventory.
- Median sales price increased 8.7% year over year to $415,500
- Residential sales increased by 20.7% to 1,248 sales
- Sales dollar volume spiked 39.2% to $678,062,256
- New listings increased 16.4% to 1,273 listings
- Active listings decreased 24% to 1,390 listings
- Pending sales increased 16.6% to 1,164 pending sales
- Monthly housing inventory decreased 0.4 months year over year to 1.4 months
Travis County
- Residential sales increased by 27.1% to 1,930 sales
- Sales dollar volume jumped 50% to $1,081,018,324
- The median sales price increased 13.8% year over year to $420,000
- New listings increased 8.4% to 1,863 listings
- Active listings declined 41.8% to 2,039 listings
- Pending sales rose 18.4% to 1,836 pending sales
- Monthly housing inventory fell .9 months year over year to 1.3 months
Williamson County
Throughout Williamson County, September residential sales rose almost 30% over last September. New listings fell and active listings plummeted by close to 70%.
- Residential sales increased by 29.4% to 1,306 sales
- Sales dollar volume jumped 43.8% to $461,491,699
- Median sales price made a 9% gain to reach $318,050
- New listings dropped 10.2% to 1,035 listings
- Active listings tumbled 66.5% to 816 listings
- Pending sales jumped 33.7% to 1,266 pending sales
- Housing inventory declined 1.6 months year over year to .8 months
Hays County
September home sales spiked throughout Hays County while the median sales price jumped. As a result, sales dollar volume made a nearly 80% gain. Pending sales shot up more than 40%. The overall increased sales activity sent Hays County housing inventory down less than 2 months.
- Residential home sales increased by 50.3% to 487 sales
- Sales dollar volume increased 78% to $184,817,195
- The median sales price increased by 15.1% to $310,000
- New listings jumped 40.6% to 485 listings
- Active listings tumbled 43.1% to 558 listings
- Pending sales increased by 42.9% to 480 pending sales
- Housing inventory dropped by 1.5 months to 1.5 months
Bastrop County
Bastrop County home sales skyrocketed to nearly 70%, making the highest housing sales gains of any county throughout the Central Texas region this September. Sales dollar volume nearly doubled. Pending sales also made incredible gains in Bastrop County this September.
- Home sales spiked 69.5% to 139 sales
- Sales dollar volume skyrocketed 96.6% to reach $42,855,211
- Median sales price increased 8% to $270,000
- New listings increased 4.7% to 133 listings
- Active listings declined 36.4% to 227 listings
- Pending sales rose 84% to 149 pending sales
- Housing inventory decreased by 1.7 months to 2.2 months
Caldwell County
In Caldwell County, September residential home sales increased as well as sales dollar volume. Median home prices made stable gains and housing inventory decreased by more than 2 months. New listings were down almost 18%.
- Home sales increased by 15.4% to 30 sales
- Sales dollar volume increased by 18.3% to $7,000,759
- Median home price increased 5.1% year over year to $217,500
- New listings decreased 17.9% to 23 listings
- Active listings decreased 39.3% to 68 listings
- Pending sales rose 50% to 36 pending sales
- Housing inventory decreased 2.1 months to 2.5 months
If you’re considering a home sale or purchase, reach out to David Brodsky Properties for a complimentary strategy session. Selling a home in the current Austin real estate market presents unique challenges for homeowners. Leverage the expertise of our Austin real estate strategists to help make your home sale a successful and stress-free experience.