Austin Area Home Statistics
Interview with Romeo Manzanilla (2020 president of the Austin Board of Realtors)
by Will Anderson - Managing Editor, Austin Business Journal, Aug 21, 2020
|Homes across the Austin area and neighboring counties spent an average of 44 days on the market, three fewer days than July 2019, and housing inventory fell by a full month to 1.7 months of inventory.
Manzanilla also noted that this extremely low level of inventory, when paired with continued demand across the region, has led to rising home prices, creating a very strong seller's market.
As inventory falls, we REALTORS® will continue to work aggressively to research the market and find the properties needed to meet our client's demands. Prospective buyers should seek out a REALTOR® to work with who can put a strategic offer together in this competitive market.
"Our market is now ultra-competitive because of our dangerously low inventory and that is cause for concern over the long-term. Homeowners thinking of listing their home need to understand the opportunities in the market and our elected leaders should focus on promoting policies that create increased housing capacity.
The jobs pipeline into Austin (TESLA, Amazon, etc) 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."
City of Austin/Round Rock Home Statistics