Austin Real Estate Market Report

Travis County Report

30.9% Year-Over-Year Price Increase for Closed Sales

Closed sales in Austin continue to reflect an increased rate of price appreciation with a 30.9% jump based on the average sale price year-over-year as compared to November 2019.

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 26.8% year-over-year as compared to the same time frame in 2019.

To put current market conditions in perspective, 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. 

The increasingly large price jumps are 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.

Source: Austin Board of Realtors Travis County, as of December 10^th, 2020, for New and Existing Single Family Homes. Figures are preliminary and subject to revision based on ABoR’s upcoming report for November.

Williamson County Report

Bigger Double-Digit Year-Over-Year Price Increases Gain Momentum

Strong demand and low inventory continue to drive prices higher in Williamson County, and the rate of appreciation is accelerating.

The average Williamson County sale price for closed sales in November was $361,520. That’s a 15.9% jump from November 2019’s average sale price of $313,717. The three previous months of August, September and October had year-over-year average sale price increases of 8.1%, 10.4%, and 11.9%, respectively.

It is anticipated that the rate of year-over-year price increases will continue through the 4^th quarter and into 2021 based on the relentless demand for housing in Williamson County and the limited supply of available housing, as well as forecasts for continued historically low mortgage interest rates.

Source: Austin Board of Realtors Williamson County, as of December 10^th, 2020, for New and Existing Single Family Homes. Figures are preliminary and subject to revision based on ABoR’s upcoming report for November.