Within the first six months of 2021, the Austin Board of Realtors reported, the median value of properties within the metropolis of Austin has elevated practically 31 % to $530,000. Much more eye-popping, for the month of June, ABoR stated the median value of properties within the metropolis of Austin reached $575,000, an all-time file for Austin.
The group reported Thursday that the variety of properties promoting in the course of the first six months of this 12 months in Austin elevated by greater than 21 %, however energetic listings have now declined to 7,851. In June, ABoR stated, “There have been 1,374 residence gross sales, up 16.9 % 12 months over 12 months, setting a file for any June on file.” The figures embrace single-family properties and townhomes in addition to condos.
The identical pattern is true all through the Austin-Spherical Rock metropolitan space, the place the median value elevated 43 % to $482,364 – additionally an all-time file. On the similar time, stock was declining.
Susan Horton, 2021 ABoR president, stated in a information launch, “In June, and within the first six months of the 12 months, we noticed a affirmation that Austin’s housing market is without doubt one of the strongest within the nation. Our market has established its personal new regular, as median costs climb whereas stock stays low. With the unprecedented development our area continues to expertise, we will count on these tendencies to proceed.”
In one other signal of the heated market, ABoR reported that properties spent a mean of 13 days on market in 2021 in comparison with 46 days for June 2020. The pattern was the identical in Williamson County, with the median value growing 42.1 % this 12 months to $414,936. In Hays County, ABoR reported that in the course of the January-June time interval, the median value elevated 27.2 % to $355,000. And in Caldwell County, the story was a lot the identical, because the median value rose 38.3 % to $295,000.
Horton stated, “Whereas we’re inspired that housing has led our area’s financial restoration, motion have to be taken to convey extra items on-line to fulfill the demand for housing and tackle affordability. Native leaders ought to collaborate regionally and with their state and federal companions to suppose creatively to deal with this complicated challenge.”
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