Austin market breaks another record as median home price hits $550,000 In February 2021, the city s median home price was $491,000. It s now $550,562.
RoschetzkyIstockPhoto/Getty Images Record-breaking milestones continue for the Austin real estate market, according to the Austin Board of Realtors latest data. ABoR s April 2021 report, released May 18, details new all-time highs and unprecedented growth at the city, county, and metro levels. Home sales in the city of Austin skyrocketed 51.4 percent in April 2021 compared to April 2020, ABoR says. And while the city was under shelter-in-place orders last year that essentially put the market on hold, last month s home sales figure (1,167 sales) was an all-time high for any April on record, the report notes.
That s according to the latest home-sales report the Austin Board of Realtors released Tuesday.
The April report provides the first direct comparison one year later to the first full month of the coronavirus pandemic, after COVID-19 lockdown orders last spring abruptly plunged the region s housing market into uncharted territory as the nation registered its highest unemployment level since the Great Depression.
It didn t take long for the housing market to begin recovering, and by last summer it was roaring back.
Last month s sales and prices continued the trend.
In April, the number of home sales and median prices, in both the five-county Central Texas region and the city of Austin, saw soaring double-digit growth and once again set records, the board said.
Austin market skyrockets as home price hits all-time high of $515,000 The median home price in Austin jumped almost 25 percent year-over-year. Another record-breaking month is in the books for the unstoppable Austin housing market. The latest report from the Austin Board of Realtors, detailing sales activity in March 2021, shows that the median home price in both the city itself and the greater metro area jumped well over 20 percent year-over-year, leading to new all-time highs for both segments. In the city of Austin, the median sale price grew an astounding 24.8 percent to $515,000, marking the first time that the median home price has surpassed the $500,000 mark. In February 2021, the figure sat at $491,000, a record at the time.
The white-hot housing market in the Austin area continues to blaze, with the median sale prices for homes hitting all-time highs in March and real estate experts say that even as demand soars, the region is showing no warning signs that it s experiencing a housing bubble that is at risk of bursting.
For the five-county metro area which runs from Georgetown to San Marcos the median price for homes sold in March was a record $425,000, up 28.8% from March 2020, according to the Austin Board of Realtors. That means half the homes sold for that amount and half sold for less.
Within Austin s city limits, the prices were even higher, with the median price at a record $514,000, which was up 24.8% from March 2020.
Continuing the Austin-area housing market s hot streak, home sales and the median price paid for those homes set records for a January, according to new data from the Austin Board of Realtors.
Low mortgage interest rates, high demand and a shortage of homes continue to fuel the market and drive prices higher, experts and real estate agents say.
Sales of single-family homes, townhomes and condos soared almost 24% in January, with 2,523 homes changing hands, a record volume for the month.
Half of the houses sold for more than $365,000 and half sold for less, a January record for the median price and an increase of nearly 20% over January 2020 s median.