Despite shelter in place orders from local government beginning on March 25th the local housing market remained strong.
- For the month residential sales were up 2.2 % year over year to 3,042 sales.
- The median price of homes increased from by 11.7% to $335,200.
- Monthly inventory dropped .7 months to 1.6 months (6-6.5 months of inventory is considered a balanced market).
- New listings declined 12.7% and active listings dropped 26.6%.
- Pending sales fell by 19.2%.
ABOR president Romeo Manzanilla is quoted as saying “the true impact of COVID-19 won’t be seen until April”.
Austin housing market remains steadfast in March |News Talk Texas | April 16, 2020 |