[email protected] 512-710-0337

NOVEMBER 2020 Central Texas Housing Market Report

November 202 Austin Real Estate Market Statistics

December 16, 2020

Austin Housing Market Data Portal

INSTRUCTIONS:

Select Zip code, Inventory Type, Property Type, and Date Range fields to explore Central Texas housing market trends.

(please be patient, there is a large volume of data being queried)

Austin, Texas November 2020 Housing Market Statistics

AUSTIN, Texas – The Austin-Round Rock Metropolitan Statistical Area (MSA) posted a record-breaking month of sales this November, according to the latest Central Texas Housing Market Report released by the Austin Board of REALTORS® (ABoR). MSA home sales jumped 23.8% year over year to 3,397 sales, indicating no sign of a typical season slowdown heading into the new year. 

Additionally, the median price across the MSA increased 19.7% to $365,000, and sales dollar volume spiked 49.3% to $1,576,178,429. At the same time, new listings increased 5.7% to 2,762 listings, active listings dropped 55.2% to 2,842 listings and pending sales increased 23.9% to 3,269 pending sales. For the first time ever, housing inventory dipped below one month across the five-county MSA, falling 1.2 months year over year to 0.9 months of inventory.   

“Despite the economic roadblocks and challenges the global pandemic has presented, Austin’s housing market activity is stronger than it’s been in several years,” Romeo Manzanilla, 2020 ABoR president, said. “Housing demand has only increased over the past several months and Austin REALTORS® are working hard to ensure clients find a home that works for them. Our main challenge in this market is navigating the critically low levels of inventory. This near-zero level of housing inventory throughout the region is staggering, and it will put enormous pressure on home prices and the rental market.” 

November 2020 marks an all-time low for housing inventory throughout the region and the first time that inventory across the five-county MSA has dipped below one month. The Real Estate Center at Texas A&M University estimates 6.5 months of inventory as a balanced housing market.  

“With a steady influx of job creation in the pipeline, the housing market will continue to post strong numbers well into 2021,” Mark Sprague, state director of information capital at Independence Title, said. “But, because Austin’s housing market is not slowing down, we will continue to see demand outpace the inventory available. This growth is not sustainable. The one variable that will hold the market back is the lack of inventory.” 

“While we’re grateful that the housing market rapidly recovered, last month’s numbers should give us all pause,” Manzanilla concluded. “Central Texans who could not find a property within Austin’s city limits have historically been able to expand their searches outward to find a home. But, when the entire region has virtually zero inventory, its leaders must think about how such a broad lack of housing will ultimately impact Austin’s suitability as a destination for businesses and economic growth.” 

City of Austin 

The median sales price in the city of Austin rose 10.1% to $433,493 in November. Residential sales increased28.2% to 1,105 sales, as sales dollar volume jumped47.2% to $600,496,127. During the same period, new listings increased9.9to 897 listings, while active listings decreased 28.2% to 1,064 listings, and pending sales jumped 16.8% to 1,038 pending sales. Monthly housing inventory decreased 0.4 months year over year to 1.0 months of inventory. 

Travis County 

In Travis County, residential sales increased 25.2% to 1,720 sales, while sales dollar volume spiked54.6% to $961,793,770. The median price for residential homes rose19.7% year over year to $425,000. During the same period, new listings increased 8.2% to 1,388 listings, active listings decreased47.2% to 1,523 listings, andpending sales jumped 22.4% to 1,642 pending sales. Monthly housing inventory fell 0.9 months year over year to 0.9 months of inventory. 

Williamson County 

In November in Williamson County, residential sales increased 19.8% to 1,127 sales, and sales dollar volume jumped 38.4% to $404,718,496. The median price increased 18to $326,725During the same period, new listings slightly increased 2.2% to 903 listings, while active listings tumbled 71.8% to 604 listings. Pending sales increased 12.2% to 1,046 pending sales. Housing inventory declined 1.6 months year over year to 0.5 months of inventory. 

Hays County 

In Hays County, November home sales increased30.4% to 403 sales, and sales dollar volume spiked 54.6% to $170,600,406. The median price for homes increased 18.5% to $303,525. During the same period, new listings increased 6% to 338 listings, while active listings fell50.7% to 439 listings. Compared to November 2019, pending sales soared 54.6% to 422 pending sales. Housing inventory decreased by 1.months to 1.1 months of inventory. 

Bastrop County 

In November, Bastrop County home sales climbed 14% to 114 sales, and sales dollar volume increased17.4% to $31,303,538. The median price for residential homes increased 6.4% to $260,950. During the same period, new listings slightly increased 2.8% to 109 listings, while active listings dropped 37.7% to 208 listings. Pending sales skyrocketed 81.4% to 127 pending sales. Housing inventory decreased by 1.7 months to 1.9 months of inventory.   

Caldwell County 

In Caldwell County, November home sales increased65% to 33 sales, and sales dollar volume increased 70.4% to $6,961,699. The median home price increased11.4% year over year to $204,750. During the same period, new listings rose 14.3% to 24 listings, while active listings dropped32% to 68 listings. Pending sales jumped 52.4% to 32 pending sales. Housing inventory decreased 1.5 months to 2.5 months of inventory.  

PAST MARKET STATS

Home Buyer Readiness

You May Also Like…

Work begins on Rise 510

​​​GEORGETOWN – Novak Brothers Development Group has started on Rise 510, a
301-unit multifamil​y project on 12 acres in the Wolf Lakes Village master-
planned community.

Amenities will include a pool, fitness center, hiking trails, and one-acre
community park.

Construction wraps in summer 2024.

[![texaslogo.png](https://assets.recenter.tamu.edu/Images1/NewsTalk/NTTInfo.png)](https://www.recenter.tamu.edu/articles/technical-
report/Texas-Quarterly-Commercial-Report)The Texas Real Estate Research Center
has more news like this online for free:

* [ _Texas Quarterly Apartment Report_](https://www.recenter.tamu.edu/articles/research-article/TexasQuarterlyApartmentReport-2242)
* [Austin multifamily news​](https://txrec.io/2PoQABe)

​Source: [REBusiness On​​​line​](https://rebusinessonline.com/novak-brothers-
breaks-ground-on-301-unit-multifamily-project-in-metro-austin/)

read more

Aspen Heights to redevelop Health South office towers

​​​AUSTIN – The city has approved plans for Aspen Heights Partners to convert
the former Health South office towers into a 37-story residential and
commercial project.

Of the 921 rental units, 232 wi​ll be designated as affordable. The plan also
calls for 35,000 sf of commercial space and a childcare center.

Civilitude will be the engineer. STG Design will be the architect.

read more

Three-building Buda industrial park trades hands

​​BUDA – Buda Midway Phase I, a three-building, 474,465-sf, Class AA
industria​l park, has been sold.

The project is on 35.3 acres at 1795 Fire Cracker Dr. It has two rear-load and
one cross-dock building with 30- to 36-ft clear heights, 138 dock doors, 60
trailer parking spaces, and 678 parking spaces.​

The recently delivered ​buildings are fully preleased to CED Greentech, Sherri
Hill, and Four Hands. ​

JLL represented the seller, a joint venture between United Properties and PCCP
LLC.​

Phase two will include four rear-load buildings totaling nearly 390,000 sf.
Completion of the first building is set for spring 2023.

read more