Austin-Round Rock MSA housing market sets records in 2021
Home sales accounted for more than $23 billion in economic activity in 2021
AUSTIN, Texas – According to the December 2021 and Year-End Central Texas Housing Market Report released by the Austin Board of REALTORS® (ABoR), more homes were sold in the Austin-Round Rock MSA in 2021 than ever before, with residential home sales rising 2.5% year over year to 41,316 homes sold last year.
In addition to an annual record for closed sales, the median price for a home across the MSA set a record in 2021, rising 30.8% over 2020 to $450,000. Sales dollar volume jumped 32.6% to yield a $23,374,102,226 impact on the Austin-area economy in 2021. More homes hit the market in 2021 than ever before, with new listings increasing 5.9% to 46,449 homes and pending listings rising 1.1% to 42,592 homes.
Despite healthy growth in listing activity last year, the average number of active listings on the market dropped 48.2% to 2,348 homes in 2021. Homes spent an average of 20 days on the market, 25 days fewer or 55.6% less than in 2020, and the five-county MSA ended the year with 0.6 months of housing inventory, unchanged from December 2020.
City of Austin
In 2021, residential home sales in the City of Austin increased 4.6% to 13,351 sales, an annual record, while sales dollar volume jumped 30.5% to $8,820,863,800. The median sales price for residential homes rose 27.7% year over year to $536,331 this past year, also an annual record. New listings slightly increased 1.4% to 14,937 listings while active listings dropped 41% to 782 listings, and pending sales increased 4.7% to 13,595 pending sales.
In December 2021, the median sales price in the city of Austin rose 19.4% to $555,000, an all-time monthly record. Residential sales decreased 8.2% to 1,110 sales, as sales dollar volume increased 7.5% to $773,517,832. During the same period, new listings dropped 15.1% to 641 listings, while active listings also decreased 26.5% to 548 listings, and pending sales fell 9.3% to 818 pending sales. Monthly housing inventory decreased 0.2 months year over year to 0.5 months of inventory.
During 2021, residential home sales increased 2.3% to 20,586 sales, while sales dollar volume rose 28.8% to $13,767,295,840. The median price for residential homes increased 28.4% year over year to $520,000. This past year, new listings also increased 0.9% to 22,988 listings, active listings dropped 44.2% to 1,236 listings and pending sales decreased 0.1% to 20,859 pending sales.
In December, residential home sales decreased 8% to 1,750 as sales dollar volume in Travis County spiked 9.2% to $1,239,694,707. Additionally, the median price rose 25.4% year over year to $545,000. During the same period, new listings declined 19.1% to 988 listings, active listings also dropped 11.5% to 912 listings, and pending sales decreased 15.4% to 1,262 pending sales. Monthly housing inventory fell 0.1 months year over year to 0.5 months of inventory.
In 2021 in Williamson County, home sales increased 2.0% to 13,871 sales, and sales dollar volume spiked 40.9% to $6,528,590,310. The median price for homes increased 38.8% to $425,680. New listings increased 12.2% to 15,479 and active listings fell 52.1% to 629 listings in 2021. However, pending sales increased 2.2% to 14,409 pending sales.
During the month of December, residential sales in Williamson County decreased 2.5% to 1,153 sales, and sales dollar volume jumped 33.8% to $580,123,013. The median price increased 38.5% to $450,000. In December, new listings decreased 3.1% to 764 listings, while active listings rose 34.2% to 542 listings. Pending sales dropped 4.3% to 899 pending sales. Housing inventory increased 0.1 months year over year to 0.5 months of inventory.
During 2021, Hays County home sales increased 0.7% to 4,913 sales, and sales dollar volume rose 30.2% to $2,385,186,102. The median price for homes increased 25.4% to $370,000. This past year, new listings increased 11.8% to 5,834 listings, while active listings tumbled 50.8% to 322 listings compared to 2020. Pending sales increased 0.9% to 5,333 pending sales.
December 2021 home sales in Hays County increased 1.9% to 435 sales, and sales dollar volume rose 39% to $230,266,685. The median price for homes increased 29.5% to $395,070. During the same period, new listings increased 11.6% to 307 listings, while active listings also rose 31.9% to 393 listings. However, pending sales decreased 6.8% to 358 pending sales. Housing inventory increased by 0.3 months to 1.0 months of inventory.