Austin home sales dip in April, but prices keep rising

​​​​​AUSTIN – Local home sales saw a double-digit fall in April with COVID-19 and shelter-in-place orders slowing transactions. 

Single-family home sales through the Multiple Listing Service decreased 21.6 percent to 2,611, according to the Austin Board of Realtors (ABoR). Consequently, sales dollar volume fell 18.3 percent to $1 billion. 

Although sales decreased, homes still spent less time on the market and sold at higher prices than last April. Demand was high enough that the median sales price rose 3.2 year over year to $325,000. Homes also spent nine fewer days on the market for an average of 43 days. 

​ABoR is anticipating May sales to see a decline because of slow listing activity in April. Active listings fell 7.3 percent to 6,349 last month. New listings dropped 21.1 percent to 3,516, and pending sales fell 25 percent to 2,801. 

In Austin proper, home sales fell 33.1 percent to 759, and sales dollar volume dropped 23.9 percent to $387.9 million. ​​

The Real Estate Center has more information on housing:​