Austin Board of Realtors: More homes sold in 2021 than ever before, $23 billion in sales

Median home prices in Austin-Round Rock market jump nearly 31% from 2020

KXAN File Photo

AUSTIN (KXAN) — This was a banner year 2021 for the Austin-Round Rock real estate market.

The Austin Board of Realtors said in a year-end report that more homes were sold on the market than ever before at 41,316. ​​That was a 2.5% year-over-year increase. on the other, and the median home price rose nearly 31% from 2020 to $450,000.

There was over $23 billion in sales volume, representing an increase of nearly 33%, and more homes also hit the market in 2021 with new listings up nearly 6% to 46. 449.

Cord Shifflet, the chairman of the 2022 board, said Austin was “put on the world stage” in 2021.

“In 2021, we experienced the most exciting, convoluted, fastest-paced and record-breaking housing market in Austin’s history,” he said. “With all the new jobs in the area coming from exciting companies like Tesla and Samsung, Austin has been put on the world stage and captured the hearts and attention of so many. We are fortunate to call Austin our home when it has so much to offer, from an excellent quality of life to a wonderful destination for innovation and opportunity.

Apparently, as soon as the houses hit the market, they disappeared. On average, homes spent 20 days on the market in 2021, nearly 56% less than in 2020, according to the report.

What’s a little peculiar, according to the report, is that even with the growth in registrations, the average number of active registrations fell by 48% to 2,348 in 2021.

Mark Sprague, state director of information capital at Independence Title, said this could be a sign of what to expect moving forward.

“In 2021, the record number of homes sold were demand-driven transactions and that demand was heavily influenced by companies that continue to target the area for job creation and expansion,” he said. declared. “Even though more homes are being built, listed and sold than ever before, our region is still far from having a comfortable amount of supply to meet demand, which is why home prices continue to rise steadily. “

Sprague also said supply chain disruptions delaying home construction and a general lack of inventory could lead to a “5-7% drop in completed sales,” but rising home values ​​would help maintain the economic impact of the market.

“In short, 2022 will see a robust market for home sales and property values, but the region needs to do more to manage inventory,” Sprague said.

Shiflet said housing and how to make it affordable for all should be front and center with politicians in an election year.

“As we approach elections, ABoR encourages candidates for our local offices to put housing policies designed around streamlining the development process at the top of the list,” Shiflet said. “It’s important that anyone who wants to own a home can find, afford and enjoy something, whatever their budget.”

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