The Housing Market Continues To Show A Strong Rebound
The Greater Austin area’s housing market is continuing to bounce back, according to the Austin Board of REALTORS® (ABoR) latest Central Texas Housing Market Report. Compared to July 2019, residential sales in the five-county area increased 21.5% while sales dollar volume increased 36.7%. At the same time, the median sales price increased 10.7% to $353,000 and homes spent three fewer days on the market—an average of 44 days. “The jobs pipeline into Austin continues to create new economic opportunities and a double-digit percentage gain in new listings in July, coupled with buyers continuing to take advantage of historically low interest rates, allows us to be cautiously optimistic about the remainder of 2020,” said Romeo Manzanilla, 2020 ABoR President.