Austin Texas Real Estate Market Statistics

Austin Texas Real Estate Market Statistics
Austin-area real estate market shows improvement over last year
Austin Board of REALTORS® releases September 2009 real estate statistics

October 19, 2009 - According to the September 2009 Multiple Listing Service report by the Austin Board of REALTORS®, activity in the Austin-area real estate market has shown signs of improvement from September 2008.

In September 2009, 1,780 homes were sold, a six percent increase from 1,673 homes sold in September 2008. The median home price for Austin in September 2009 was $185,250, up two percent from the same month the prior year.

“This spur in activity compared to last year is a good sign,” said Jay Gohil, chairman of the Austin Board of REALTORS®. “It shows the Austin-area real estate market is healthy and has remained stable.”

According to the report, the average median home price in the third quarter of 2009 is statistically similar to that of the third quarter of 2008. In addition, the third quarter of 2009 represented the highest quarterly average for home sales this year. There was an average of 1,857 homes sold during the third quarter of 2009, a 3 percent decrease compared to the third quarter of 2008 which averaged approximately 1,912 homes sold.

Gohil continued, “As the deadline for the first-time homebuyer tax credit approaches on Nov. 30, we may continue to see increases in home sales into October and November.” On Nov. 30, the tax credit for first-time homebuyers of up to $8,000 expires. To qualify, first-time homebuyers must close their real estate transaction by that date, a process that requires anywhere from 14 to 60 days or more. For more, visit contact Lori Wakefield at 512.657.4455 or to search all Austin Texas Real Estate visit www.LoriWakefield.com


September 2009 Statistics

$431,530,740 was the dollar volume of single-family properties sold, a seven percent increase from September 2008.


$185,250 was the median price for single-family homes, a two percent increase from September 2008.


9,148 was the number of active single-family home listings on the market, a ten percent decrease from September 2008.


1,780 was the number of single-family homes sold, a six percent increase from September 2008.

The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,000 licensed REALTORS® in Central Texas.

Lake Travis Real Estate Market Trends September 2009

Trends At A Glance	Sep-09	Previous Month	Year-over Year
Median Price	$344,500	$340,000  (+1.31%)	$375,000  (-8.85%)
Average Price	$395,723	$442,725 (-12.06%)	$486,439  (-22.92%)
No. of Sales	59	75  (-27.12%)	61 (-1.69%)
Pending Properties	70	64 (+8.57%)	57 (18.57%)
Active	714	777 (-8.82%)	786 (10.08%)
Sales vs. List Price	95%	92%	95%
Days On Market	99	120 (-21.21%)	106 (-7.07%)

 

 

Lake Travis Area Pending Home Sales Point to Improving Real Estate Market

Pending sales of Lake Travis area single family homes were up 18.57% year-over-year in September.  In the Lake Travis area, 40% of the year-to-date home sales were under $300K and an additional 20% of the homes sold were priced between $300-$400K.  With the end of the federal tax credit for first-time home buyers ending November 30th, we expect sales to be strong through the end of October.

Lake Travis area home sales were down in September, decreasing 27.12% from August.  Year-over-year, Lake Travis area home sales were up 10.67%.  Year-to-date, Lake Travis home sales are down 1.69%.

Inventory declined last month, down 8.82% from August and down 10.08% compared to last September.

The median price remained constant from August and was down 8.85% compared to September 2008.  The average price dropped 12.06% from August and was down 22.92% year-over-year. 

The sales price to list price ratio increased 300 basis points to 95%.

The real estate market is very hard to generalize.  It is a market made up of many micro markets.  For complete information on a particular neighborhood or for an evaluation of your home's worth, call me at 512.657.4455.

 

 

Lake Travis Real Estate Market Trends August 2009

Trends At A Glance	Aug-09	Previous Month	Year-over Year
Median Price	$340,000	$339,900  (+.00%)	$410,000  (-2.06%)
Average Price	$442,725	$429,687  (+2.95%)	$506,919  (-14.50%)
No. of Sales	75	71  (+5.03%)	67 (+10.67%)
Pending Properties	64	75 (-17.19%)	58 (+9.37%)
Active	777	815 (-4.89%)	810 (-4.25%)
Sales vs. List Price	92%	94%	95%
Days On Market	120	110 (+8.33%)	103 (+14.17%)

 

 

Lake Travis Area Pending Home Sales Point to Improving Real Estate Market

Pending sales of Lake Travis area single family homes were up 9.37% year-over-year in August.  In the Lake Travis area, 40% of the year-to-date home sales were under $300K and an additional 20% of the homes sold were priced between $300-$400K.  With the end of the federal tax credit for first-time home buyers ending November 30th, we expect sales to be strong through the end of October.

Lake Travis area home sales were up in August, increasing 5.03% from July.  Year-over-year, Lake Travis area home sales were up 10.67%.  Year-to-date, Lake Travis home sales are down 9.5%.

Inventory declined last month, down 4.90% from July and down 4.25% compared to last August.

The median price remained constant from July and was down 20.58% compared to August 2008.  The average price rose 2.9% from July and was down 14.5% year-over-year. 

The sales price to list price ratio declined 200 basis points to 92% most likely due to strong price adjustments in the market to get homes sold.  

The real estate market is very hard to generalize.  It is a market made up of many micro markets.  For complete information on a particular neighborhood or for an evaluation of your home's worth, call me at 512.657.4455.