Austin Area Market Watch for MarchPosted by Grossman & Jones Group on
The Austin Real Estate Market continues to adapt and defy the odds of working through virtual conditions.
Local shelter-in-place orders that went into effect on March 24 had little impact on March home sales, according to the Austin Board of REALTORS® (ABoR) latest Central Texas Housing Market Report.
In March, residential sales in the five-county Metropolitan Statistical Area (MSA) increased 2.2% year over year to 3,042 sales and median price jumped 11.7% year over year to $335,200. Monthly housing inventory declined 0.7 months year over year to 1.6 months of inventory, and average days on market decreased from 65 days to 54 days.
“For most of March, it was still ‘business as usual,’ and REALTORS® adapted early to continue serving…
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