AUSTIN, Texas – According to the Austin Board of REALTORS® (ABoR) September 2021 Central Texas Housing Report, the Austin-Round Rock MSA housing market is continuing its calming trend. Home sales decreased 5.1% compared to September 2020 as the median sales price of $450,000 set a record for the month of September across the MSA. To meet the continued demand, due in large part to economic activity and job growth across the region, addressing housing affordability and increasing available inventory should continue to be a top priority for the region.
As residential home sales in the Austin Round-Rock MSA declined 5.1% to 3,682, the median sales price grew 28.5% year over year to $450,000. At the same time, sales dollar volume increased 18.5% year over year to $2,078,429,244. New listings increased 16.9% to 4,136 as active listings grew 0.7% year over year to 3,723 listings and pending sales declined 1.1% to 3,552 across the MSA. Monthly housing inventory dipped 0.1 months to 1.1 months of inventory and homes spent an average of 17 days on the market, down 22 days when compared to September 2020.
Several factors have contributed to the housing market boom in Austin, not just over the past 16 months, but over the past two decades. Job growth and a flourishing and diverse economy have been a main driver of increased demand according to the Austin Chamber of Commerce.
City of Austin
In the city of Austin, the median home price rose 28% year over year to $525,000—a record for the month of September. Home sales decreased 7.1% to 1,156 sales, while sales dollar volume increased 6.4% to $711,203,330. During the same period, new listings increased 8.4% to 1,384, active listings dropped 11.1% to 1,232, and pending sales decreased 4.4% to 1,080. Monthly housing inventory decreased 0.3 months year over year to 1.1 months of inventory.
Travis County
At the county level, home sales also decreased 7.0% to 1,796 sales, and sales dollar volume jumped 11.5% to $1,188,315,638. The median price for a home increased 22.9% year over year to $510,000. During the same period, new listing increased 13.3% to 2,117 listings; active listings decreased 3.2% to 1,969 and pending sales decreased 5.7% to 1,681. Monthly housing inventory decreased 0.2 months year over year to 1.1 months of inventory.
Williamson County
In Williamson County, September home sales decreased 2.7% to 1,269 sales, while sales dollar volume jumped 33.2% to $608,322,686. The median price rose 37.5% to $435,000, and new listings increased 26.2% to 1,306 listings. During the same period, active listings rose 19.2% to 981 listings, and pending sales also increased 7.8% to 1,293 pending sales. Housing inventory stayed level at 0.8 months of inventory.
Hays County
In Hays County, September home sales decreased 3.2% to 457 sales, and sales dollar volume climbed 22.4% to $221,438,960. The median price for homes increased 16.3% to $365,000. During the same period, new listings rose 7.5% to 519 listings, active listings increased 1.3% to 558 listings. At the same time, pending sales decreased 7.6% to 413 pending sales. Housing inventory decreased 0.1 months to 1.3 months of inventory.
Bastrop County
In September, Bastrop County home sales decreased 10% to 126 sales, and sales dollar volume rose 13% to $48,652,064. The median price increased 25.5% to $335,000. During the same period, new listings increased 23.1% to 160 listings, while active listings declined 19.6% to 177 listings. Pending sales decreased 9.7% to 121 pending sales and housing inventory decreased 0.8 months to 1.3 months of inventory.
Caldwell County
In Caldwell County, September home sales increased 13.3% to 34 sales, and sales dollar volume increased 43.4% to $9,840,046. The median home price increased 19.6% year over year to $259,000. At the same time, new listings increased 47.8% to 34 listings, while active listings decreased 46.5% to 38 listings. Pending sales increased 51.7% to 44 pending sales, and housing inventory decreased 1.5 months to 1.2 months of inventory.
For more information or to download the September 2021 Central Texas Housing Market Report, visit ABoR.com/MarketStatistics.