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In the Round Rock-Pflugerville-Hutto market, 690 apartments were sold in June, an increase of 7.3% over the previous year. (Brian Rash / Community Impact Newspaper)
A newly released report from the Austin Board of Realtors shows that property sales in the Round Rock-Pflugerville-Hutto area are still on the rise during one of the hottest local property markets in history.
ABoR’s Midyear Central Texas Housing Report said 4,369 homes were sold across the five-county Austin Metropolitan Statistical area, up 8.6% from last June.
Another notable figure is that dollar sales for the Greater Austin MSA increased 55.7% from last June to $ 2.62 billion.
These percentages are relatively similar in the Round Rock-Pflugerville-Hutto market, where 690 homes sold in June represented a 7.3% year-over-year increase and the region’s sales volume was up a whopping 62.4% year-over-year Rose $ 344 million.
“In June and the first six months of the year we saw confirmation that Austin’s housing market was one of the strongest in the country,” said ABoR 2020 President Susan Horton. “Our market has established its own new normal as median prices rise while inventories remain low. Given the unprecedented growth our region continues to experience, we can assume that these trends will continue. “
The ABoR report states that Dr. Jessica Lautz, vice president of demographics and behavioral insights for the National Association of Realtors, said shoppers have shifted their priorities since the beginning of the COVID-19 pandemic. These buying trends have fueled the real estate market boom across Austin-Round Rock MSA, the report said.
“Reliable broadband access, at least one home office and flexible work and living spaces have top priority,” says Lautz. “Remote working, along with incredibly low interest rates, has enabled buyers to buy homes in suburbs that have more square feet of outside space and more purchasing power than those in core urban areas.”
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