Austin Real Estate Market Report
Travis County Report
20%+ Year-Over-Year Price Increases Continue in Closed Sales
The key housing indicators for Travis County reflect the continued strength of Austin’s housing market. Most notably, recent closed sales are reflecting a big increase in Travis County’s average sale price. For the first six months of 2020, sale prices in Travis County were on average 4% higher than sale prices from the same time frame in 2019.
However, the impact of Austin’s ever-decreasing and already ultra-tight supply of available housing has been increasingly clear as the average price of closed sales over the past three months has gone up an average of 22% year-over-year as compared to the same time in 2019.
The price jump was inevitable due to runaway demand, a dwindling supply of available housing, and low interest rates, all of which are likely to continue through the end of the year and into 2021.
Williamson County Report
Say Hello to Double Digit Year-Over-Year Price Increases
Strong demand and low inventory have been driving prices higher in Williamson County for quite some time. Now the rate of appreciation appears to be accelerating.
The average Williamson County sale price for closed sales in September was $356,298. That’s a 10.3% jump from September 2019’s average sale price of $322,929.
The three previous months of June, July and August had year-over-year average sale price increases of 4.8%, 7.2% and 8.1%, respectively. It is anticipated that the rate of year-over-year price increases will continue through the 4th quarter and into 2021 based on the continued strong demand for housing in Williamson County and the limited supply of available housing, as well as forecasts for continued historically low mortgage interest rates.