JBGoodwin REALTORS® - Austin & San Antonio Real Estate Blog

 



The San Antonio metro continued its sizzling year-on-year growth, beating last year’s metrics in virtually every category.

With cities across the country affected by the COVID pandemic, home sales in San Antonio grew 16% on average while total sales increased by a whopping 32%—compared to “just” 7% year-on-year growth last month.

“The significant growth in sales, compared to last year, shows the housing sector as a possible factor to move the economy forward,” said Kim Bragman, SABOR's 2020 Chairman of the Board. "We are hopeful to see a positive growth of sales for the remainder of the year."

Even more amazingly, Bexar county total homes sales are screaming past other major Texas counties. 

Bexar clocked in at a blistering 8.2% year on

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Effects of the COVID pandemic had Austin homeowners holding on to their homes and bringing inventory down to a record-low 1.2 months. 

But tight inventory didn’t stop overall homes sales dollar volume from rising 51.5%, to go along with a 12.1% increase in median home price increase.

September can be a slower month for home sales in Austin, but with lockdown uncertainties making their impact this year, the summer sales season seems to have extended into the fall.

“The housing market is pumping billions of dollars into our region’s economy at a time it’s greatly needed, but we also need to be cognizant of the impact such rapid activity is having on record-low inventory levels and rising home prices,” said Romeo Manzanilla, the Austin Board of

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As with communities across the nation and world, real estate markets throughout the central-south Texas region have been affected by the coronavirus pandemic, but real estate experts are already pointing to what they see as promising signs that the Austin and San Antonio metro areas are well-positioned to withstand the impacts of the crisis. 

An uptick in activity over the past few weeks, coupled with record-low mortgage rates have many feeling optimistic that our markets will emerge from a downturn sooner than later. With warmer weather, businesses reopening, and many people’s desire to relocate to our region all contributing to increased activity, the hope is that local real estate will soon return to its pre-pandemic highs.

At JBGoodwin

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