AUSTIN, TX —According to the Austin Board of REALTORS® (ABoR) February Central Texas Housing Report, closed listings increased 11.3% year over year to 2,581 sales across the Austin-Round Rock MSA last month. Combined with a new record median price, which rose 27.9% year over year to an all-time high of $499,995, 2022 is shaping up to be a big year for the MSA’s housing market.
Across the MSA in February, sales dollar volume increased 34% year over year to $1,564,737,417 while new listings increased 10.4% to 2,834. At the same time, active listings decreased 4.1% year over year to 1,240 listings, while pending sales increased 20.3% to 2,967 across the MSA. This jump in pending sales indicate that March home sales growth could be equally strong as February.
Housing inventory across the five-county area increased 0.1 months year over year to 0.4 months of inventory and homes spent an average of 28 days on the market, down 4 days when compared to February 2021.
City of Austin
In February, home sales increased 2.5% to 834 sales, while sales dollar volume increased 20.2% to $578,876,715. At the same time, median price rose 15% to $565,000, a record for the month of February. Last month, new listings increased 10.2% to 887 listings, active listings dropped 26.8% to 371 listings, while pending sales also rose by 6.6% to 873 pending sales. Monthly housing inventory decreased 0.1 months year over year to 0.3 months of inventory.
Travis County
In Travis County, home sales also increased 3.9% to 1,292 sales, while sales dollar volume increased 17.2% to $883,994,216. Last month, median price in Travis County rose 15.1% year over year to $541,050 as new listings increased 5.9% to 1,340 listings and active listings declined 24.2% to 573 listings. Pending sales rose 8.6% to 1,348 as monthly housing inventory decreased 0.1 months year over year to 0.3 months of inventory.
Williamson County
February home sales rose 32.3% to 857 sales in Williamson County. Sales dollar volume skyrocketed 78.2% year over year to $451,852,940. The median price rose 32.7% to $479,000 as new listings jumped 10.8% to 921 listings. During the same period, active listings rose 14.6% to 307 listings and pending sales also increased 26.7% to 960 pending sales. Housing inventory rose 0.1 months to 0.3 months of inventory.
Hays County
In Hays County, February home sales increased 7.6% to 326 sales, while sales dollar volume rose 49.1% to $183,436,010. The median price for homes jumped 42.5% to $427,350. During the same period, new listings increased 12% to 384 listings, while active listings rose by 46.5% to 233 listings. Pending sales increased 37.3% to 434 pending sales as housing inventory ticked up 0.2 months to 0.6 months of inventory.
Bastrop County
In February, Bastrop County home sales declined 24.8% year over year to 79 sales, while sales dollar volume rose 6.6% to $35,390,095. The median price also skyrocketed 61.4% to $443,835 as new listings increased 25.2% to 139 listings. Active listings increased 19.8% to 97 listings and pending sales increased 37.3% to 173 pending sales. Housing inventory increased 0.2 months to 0.8 months of inventory.
Caldwell County
In Caldwell County, February home sales increased 42.1% to 27 home sales, and sales dollar volume more than doubled, rising 128.6% to $9,062,751. The median home price rose 57.4% year over year to $314,695. At the same time, new listings rose by 233.3% to 50 listings as active listings ticked up 3.5% to 30 listings. Pending sales rose 108% to 52 pending sales, and housing inventory stayed flat at 0.9 months of inventory.
For more information or to download the February 2022 Central Texas Housing Market Report, visit ABoR.com/MarketStatistics.