Austin Real Estate Market Report March 2020

Austin-Area Home Sales Hold Steady in March

The Austin Board of Realtors® (ABoR) just released the March 2020 Housing Market Report for the Austin area and the news is good for Central Texas.  It appears that local shelter-in-place orders that went into effect on March 24 had little impact on March home sales.  According to the report, residential sales in the five-county Metropolitan Statistical Area (MSA) increased 2.2% year over year to 3,042 sales and median price jumped 11.7% year over year to $335,200 in March.

“For most of March, it was still ‘business as usual,’ and REALTORS® adapted early to continue serving homebuyers and sellers safely,” Romeo Manzanilla, 2020 ABoR president, said. “Declines in listing activity and pending residential sales in March indicate that we won’t begin to see the true impact of COVID-19 on the housing market until our April report.”