Year over year for February, property prices have gone up exponentially. The median price for homes in the Austin area in February of 2020 was $327,140. Last February the median sale price was $295,000, a 10.89% increase in property prices year over year. More homes sold this February than last, with homes staying on market on average 8 days fewer than they did in February 2019.
The Austin area is seeing consistent growth and home sales, and we’re still in a seller’s market. Seller’s can expect to receive market value prices for homes, and buyers can expect some inventory shortages and multiple offer situations.
March 20, 2020