Austin New Home Sales Hit Annual Record Levels Amid Pandemic

AUSTIN, TX — Total new home sales in Austin hit record levels last month, according to a new report from HomesUSA.com.

Austin was not alone in this success as annual highs also were recorded in Dallas-Fort Worth, Houston, and San Antonio. Austin home builders also saw a surge in pending sales and fewer Days on Market for new homes sold in August.

The HomesUSA.com report is based on data from the Austin Board of REALTORS Multiple Listing Services, North Texas Real Estate Information Systems, Houston Association of REALTORS, and San Antonio Board of REALTORS, researchers explained.

“Austin new home sales jumped to record year-to-date levels last month,” Ben Caballero, owner of HomesUSA.com — and a current Guinness World Record title holder for real estate sales — said in a prepared statement. “By every measure, new home sales were remarkably robust in August in Austin. Pending sales also reached record annual levels in Austin and throughout Texas, which is spectacular news for home builders, and demonstrates the incredible strength of our housing market.”

Some key findings in the report include:

• For the last twelve months straight, the velocity of new home sales improved in Austin, with the average Days on Market (DOM) dropping to 94.40 days in August from 95.68 days in July, according to the report.
• New home sales and pending home sales in August were higher in all four biggest new home markets in Texas — Austin, Dallas-Fort Worth, Houston and San Antonio.
• According to the 12-month moving average, August new home sales in Austin were higher, averaging 697 versus 687 in July. Statewide, August sales totaled 4,219 versus 4,176 in July.
• HomesUSA.com notes that active listings show the continued tightening of inventory, with active listings declining in Austin from 3,937 in July to 3,887 in August.

Caballero is sharing this new homes report in advance of the release by the Commerce Department of its nationwide New Residential Sales report for August set for Thursday, Sept. 24, at 9 a.m. CT.

Days on Market — New Homes in Texas

• New homes sold faster statewide last month as Days on Market dropped for new homes sales in Austin, Dallas-Ft. Worth, Houston and San Antonio.
• According to the HomesUSA.com New Home Sales Index, Austin's DOM was 94.40 days in August versus 95.68 days in July.
• In Dallas-Ft. Worth, the DOM was 95.95 days in August versus 96.81 days in July.
• In Houston, the DOM was 114 days in August versus 114.92 days in July. In San Antonio, the DOM was 94.11 days in August versus 94.67 days in July.

See Chart 1: Texas New Homes Days on Market

Texas New Home Sales Data

• Sales of new homes hit record annual levels statewide and in all four major markets, according to the report.
• Austin's total new home sales were 697 in August versus 687 in July.
• In Dallas-Fort Worth, total new home sales in August were 1,505 versus 1,495 in July.
• Houston total new home sales were 1,421 in August versus 1,411 in July. In San Antonio, total new home sales were 595 in August versus 584 in July.

See Chart 2: Texas New Home Sales

Texas New Home Prices

• While the average new home price last month was slightly higher in Texas, that was not the case for all markets.
• The average new home price in Austin and San Antonio was higher. For the state’s two biggest new homes markets — Houston and Dallas-Fort Worth — the average price was relatively flat.
• Austin's average price was $387,588 in August versus $382,280 in July.
• In San Antonio, the average price was $297,654 in August versus $297,448 in July.
• In Houston, the average new home price was $348,047 in August versus $348,543 in July.
• Dallas-Ft. Worth reported its average price was $369,986 in August versus $370,209 in July.

See Chart 3: Texas New Home Prices

Texas Sales-to-List Price Ratio

• Sales prices as a percent of their list prices were relatively flat again last month.
• The 12-month moving average of the August sales-to-list price ratio for new homes in Texas was 98.084 percent of the asking price versus 98.067 percent in July.
• The Austin ratio was 98.787 percent in August versus 98.772 percent in July, and San Antonio's ratio was 98.478 percent in August versus 98.510 percent in July.
• In Houston, it was 97.729 percent in August versus 97.696 percent in July.
• In Dallas-Ft. Worth, it was 97.948 percent in August versus 97.927 percent in July.

See Chart 4: Texas Sales-to-List Price Ratio

Texas Pending New Homes Sales Data

• The 12-month rolling average for pending new home sales surged in August statewide and in all of the state's top new home markets.
• Pending sales in Texas went from 5,203 in July to 5,408 in August. In Austin, it was 934 in August versus 896 in July, and in San Antonio, it was 802 in August versus 767 in July.
• In Houston, August's pending sales were 1,794 versus 1,727 in July.
• In Dallas-Ft. Worth, it was 1,878 in August versus 1,813 in July.

See Chart 5: Texas Pending New Home Sales

Texas Active Listings for New Homes

• The 12-month rolling average for active listings new home sales fell in August across the board. Active listings statewide went from 20,123 in July to 19,843 in August.
• In Austin, it was 3,887 in August versus 3,937 in July and in Dallas-Ft. Worth, it was 7,109 in August versus 7,224 in July.
• In Houston, August’s Active Listings were 8,962 versus 8,847 in July.
• There is no data currently available for San Antonio.

See Chart 6: Texas Pending New Home Sales

About the HomesUSA.com New Home Sales Index

The HomesUSA.com Index is a 12-month moving average of the Days on Market (DOM) for new homes listed in the local Multiple Listing Services (MLSs) for the four largest Texas markets, including Dallas-Ft. Worth, Houston, Austin, and San Antonio. Created by Ben Caballero, founder and CEO of HomesUSA.com, it is the first index to track the sale pace of new home sales specifically.

About Ben Caballero and HomesUSA.com®

Ben Caballero, founder and CEO of HomesUSA.com, holds the current Guinness World Record title for “Most annual home sale transactions through MLS by an individual sell side real estate agent.” Ranked by REAL Trends as America’s top real estate agent for home sales since 2013, Ben is the most productive real estate agent in U.S. history. He is the only agent to exceed $1 billion in residential sales transactions in a single year, a feat first achieved in 2015 and repeated each year through 2018, when he achieved more than $2 billion. An award-winning innovator and technology pioneer, Ben works with more than 60 home builders in Dallas-Fort Worth, Houston, Austin, and San Antonio. His podcast series is available on iTunes and Google Play.

An infographic illustrating Ben’s sales production is here. Learn more at HomesUSA.com |Twitter: @bcaballero - @HomesUSA | Facebook: /HomesUSAdotcom.