City of Austin TX March 2020 Housing Statistics

[Ryan Kelly]

The March 2020 data is in from the Austin Board of Realtors and coronavirus fears didn't seem to slow down Austin's hot housing market. In fact, the market continued a blistering climb over 2019 stats.

Median Price 🔺 14% to $415,000
Months of Inventory 🔻 .5 months to 1.2 months
Days on Market 🔻 13 days

We may not see the full impact of coronavirus until this summer, but as long as Austin has a housing shortage, super-high demand, and low mortgage rates, the real estate market continues to show strength. 

What will this mean for investors? Hard to say yet if more "deals" will surface as people face financial difficulty and job losses, so I'm would keep an eye on inventory levels. Until we can get back to 3-4 months of inventory, which is a long way off, our housing shortage will continue. This is actually great for long-term investors as rental demand and appreciation will continue, but harder to create immediate cash flow with lower yields in the first years without adding sweat equity. More affordable properties will remain in the suburbs especially on the east side of the metro area.