Austin Real Estate Report

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 www.AustinHomeSearch.com. September 2009 Statistics: $431,530,740 - Total dollar volume of single-family properties sold, a seven percent increase from September 2008. $185,250 – Median price for single-family homes, a two percent increase from September 2008. 9,148 – Active single-family home listings on the market, a ten percent decrease from September 2008. 1,780 – 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. For more, please contact Angela Brutsché at 512/454-7636, ext. 1300.

 

July

Austin-area home sales volume continues momentum, reaches 2008 pace for July

Austin Board of REALTORS® releases July 2009 real estate statistics

 

August 20, 2009 - According to the July 2009 Multiple Listing Service report by the Austin Board of REALTORS®, the volume of Austin-area home sales reached 2008 levels for the first time this year.

 

In July 2009, 2,069 homes were sold, statistically unchanged from the 2,068 homes sold in July 2008. The median home price for Austin in July 2009 was $191,500, a two percent decrease from the same month the prior year.

 

“The sales volume momentum in Austin continues, now reaching 2008 levels. That’s good news, but I think it’s even better news that we’ve achieved that increase while maintaining a steady median home price,” said Jay Gohil, chairman of the Austin Board of REALTORS®. “Throughout 2009, the median price has fluctuated only slightly compared to 2008.  Looking back further, prices have remained above 2007 levels, one of the most lucrative years of the last decade in Austin real estate. That long-term price stability, particularly in the face of market fluctuations, bodes well for Austin’s future.”

 

July 2009 Statistics

• $508,810,549 was the dollar volume of single-family properties sold  

   

• $191,500 was the median price, a two percent decrease from one year ago  

   

• 2,069 was the number of homes sold, unchanged from July 2008

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