Austin Market Report-May 2020

Here are the most recent stats for the Austin Metro area.  As I look at these numbers over the past 4 months, I have been impressed with the resiliency in our market.  If you have been following, you know that I have been focusing on new listings and pending sales as key metrics to see where the market is headed.  Well, I must admit that this month’s statistics are a real head scratcher.  As expected, closed sales are down, but pending sales are up 14% while new listings are down 15%.  Low supply and increased demand is usually a recipe for higher prices, but the median sales price remained relatively flat.(although, The City of Austin did see an increase).  Even though, demand is strong and prices have been moving higher, sellers are still reluctant to list their home in this current environment.  We will continue to keep you updated to the market conditions.  If you are ever curious about what is going on in your neighborhood(or one that you are interested in), please feel free to contact me anytime.