Single-family homes were the largest source of the sales uptick, with 194 of those property sales reported. That single-family figure was followed by 163 condominiums sold and 92 townhouses, per the report. Homes.com experts attributed the momentous increase to combined population growth and job creation surges; the metro region added 3,800 jobs in March, and its yearly growth rate of 1.3% ranks among the highest in the country.
The report added that there were more than 15,000 active listings within the greater Austin area in April, continuing the region’s ample inventory supply and aiding in declining home prices, which were down 3.2% year over year. That doesn’t mean there aren’t still lingering impacts from the real estate boom and price explosion during the COVID-19 pandemic, though.
“Despite recent declines, prices remained 33% higher than April 2020 levels and ranked higher than major Texas metros, including Dallas-Fort Worth, Houston, and San Antonio,” experts noted.