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Early on in the pandemic, the Austin real estate market saw sales volumes plunge across the five county region of Central Texas. But it’s clear the market has rebounded and it’s stronger than ever!
Austin Board of Realtors confirmed to the Austin American-Statesman in October that prices continued to surge in September, describing the market as “bonkers” and in “overdrive.”
Residential sales in the metro area soared 31.5% compared to September 2019, with 3,892 single-family homes, townhouses and condominiums changing hands, the Austin Board of Realtors said. They went on to say that the median price of those sales was $355,000, tying with the median in August for the highest level on record.
Meanwhile, rent prices have dropped 5.1% since the start of the pandemic. According to Natalie Young, Senior Vice President of WTA Realty, “We are seeing the largest rent decreases and concession on apartments built within the last 10 years, versus older properties which tend to be more affordable.”
Whether you’re looking to rent or buy in Austin, check out this post about the best neighborhoods to live in the ATX. And if you’re looking to learn even more about a specific area of town, check out our neighborhoods section!