Austin Real Estate Report June 2020

Austin-Area Home Sales Increase 9.3% in June

The Austin Board of Realtors® (ABoR) released the Central Texas Housing Market Report for June and it showed that the Austin and Round Rock metro area rebounded with a 9.3% increase year over year.  “Strong home sales in June are good news for the real estate market across the region,” Romeo Manzanilla, 2020 ABoR president, said. “The increased sales last month
helped limit the impact of the pandemic on the first half of the year overall. Increased pending sales signal a strong month of sales in July, but we have to remain cautious as Texas experiences a spike in COVID-19 cases and we are seeing shrinking housing
inventory.”

The median price also increased by 4.6% to $340,000 in June and pending sales increased by almost 34%.  Despite the increase in pending sales, new listings dropped by 5.4% and active listings dropped by a little more than 32%.