March 2020 Market Report
March 6, 2020 by West Austin Properties · Leave a Comment
More homes sold in February than any other February in Austin history. 2,263 homes sold last month. This is a 13% increase from one year ago.
Pending home sales, homes under contract that have not closed, are up significantly from one year ago. Currently there are 4,715 homes under contract. This is an increase of 19% from one year ago. This is a record number of Pendings for any March.
There are 20% fewer homes for sale than one year ago. Today there are 5,080 homes for sale.
Because of he high demand and the lower homes for sale, there are only 2.24 Months of Inventory making Austin average an “Extreme Sellers Market.” Each Price Range, Zip Code and residential area is different.
The average sale price last month was $402,271, an increase of 10.3% from one year ago.
The Median sold price last month was $325,000, an increase of 10.2% from last year.
Last month, homes that sold had been on the market for 61 days. This is a decrease in the number of days by 9% from one year ago.
Click on Market Reports Tab above to view the full report.
