Austin home sales climbed to their highest median price ever in October, according to the latest monthly report from the Austin Board of Realtors.
The median price point for Austin home sales jumped 13.1% from October last year, topping off at $441,250.
The upward shift was matched by a growing number of listings – 1,345, or nearly a fifth more than the year before – as well as a decrease in the amount of housing stock. Homes continued to sell faster as well.
The Greater Austin Chamber of Commerce's president, Laura Huffman, said the housing market signals economic growth but voiced concerns about the region's growing affordability problem.
"The region needs to address housing affordability to help people from being priced out of the market, even as salary and job growth continues," Huffman said in a statement.
Zooming out, the housing market trends carry across in the broader region as well. The Austin-Round Rock metro area experienced a 29.4% increase in October home sales over the past year. Homes in the region sold faster and at higher price points than ever before.
October also marked the third consecutive month of double-digit home sales growth.
"As we come to the end of a challenging year, I'm proud of the work that Austin (realtors) have done to stabilize and grow our market," ABoR President Romeo Manzanilla said in a statement.
Since Austinites passed Proposition A, an overhaul of the local transit system, Manzanilla said he expects the city to turn its focus toward housing affordability soon, which he says has "only worsened during the pandemic." ABoR "looks forward to collaborating with both new and returning Council Members on ways to address this important issue," he added.
Manzanilla also cautioned that homeowners could expect higher property taxes, owing to recent property tax hikes attached to Props A and B, as well as rising home values.
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UPDATE: The Lower Colorado River Authority has found potentially fatal bacteria in the Hudson Bend of Lake Travis, the same area where a dog was found dead after swimming in its waters.
A Sunday night shooting at a North Austin apartment complex has left one dead after being shot by an unknown suspect.
Austin police arrived at the scene of Midtown Commons at Crestview Station apartments at West St. Johns Avenue around 11:30 p.m., where they found a man with a gunshot wound. Police performed CPR but the man died shortly after. The identity of the victim has not been revealed.
Investigators talked to witnesses at the apartment complex and have a suspect in mind. No other information has been revealed at this time.
More vaccines could be headed to Austin as FDA greenlights single-shot Johnson & Johnson COVID vaccine
This story was updated Monday to include that the vaccine received official approval by the FDA this weekend.
The Food and Drug Administration approved the single-shot Johnson & Johnson vaccine that is to be shipped out this week, increasing the number of vaccines available.
In a virtual meeting on Friday, the FDA Vaccines and Related Biological Products Advisory Committee unanimously approved of the U.S.'s third available COVID-19 vaccine, which was officially approved on Saturday. Federal officials say 4 million doses will go out nationally this week, with an expected 20 million doses to be available by the end of March. The Texas Department of State Health Services has said it expects to receive about 200,000 doses, but has not released a timeline of when doses will be shipped and available.