2021 has started off with quite a bang for the San Antonio housing market!
Homes sales in January jumped another 22% year-on-year, following a 17% increase in 2020.
“The demand for housing typically experiences a slower start at the beginning of each year, but in seeing a consistent and quick rise in home sales, we expect a bright 2021,” said Cher Miculka, Chairman of the San Antonio Board of Realtors.
The Covid lockdown certainly happened, but one wouldn’t know it from these numbers.
Even as total sales made a remarkable leap, the median home price still rose 14% while days-on-market fell by 29% to 46 days.
Given that the year-on-year days-on-market remained virtually unchanged last January, this growth demonstrates new strength in the San Antonio area housing…
Can the generational winter weather event that just made its way through Texas slow down the Austin housing market?
Because nothing else has.
Across the Austin area, home sales dollar volume skyrocketed an astounding 53.5% to more than $1.1 billion dollars year-on-year, while pending sales increased 15.9% in January.
Despite 2,878 new listings in January, active listings dropped 73.9% across the region. Housing inventory fell 1.3 months to a record-low 0.4 months of inventory, as homes spent an average of 33 days on market—literally half of what it was in 2020.
“There is strength across every price point and demand for every product,” said Vaike O’Grady, regional director with housing market research firm Zonda.