Austin-Area Home Sales Feel Impact of COVID-19 in April
The Austin Board of Realtors® (ABoR) released the Central Texas Housing Market Report for sales in April and the area experienced declined home sales across most of the region as the full impact of COVID-19 and local shelter-in-place orders were felt in the housing market. Residential sales in the five-county metro-statistical area (MSA) decreased almost 22% compared to last April, while the sales dollar volume also fell, the median sales price increased more than 3%. Homes also spent nine fewer days days on the market.
“We anticipated a sharp decline in April home sales activity, as it directly correlates with the decline in listings activity recorded in March due to government stay-at-home orders,” ABoR President Romeo Manzanilla said. “Even with the impact to home sales homes still spent less time on the market and sold at higher prices than last April. Austin’s housing demand is undeterred, and possibly strengthened by declining inventory.”