The overall Austin market

-  Compared to the end of year 2008, the number of single-family homes sold in the Austin area dropped by 6%.  Compared to 2008, the average sales price for single family homes is down 2% to $242,690.  The median price, however, is at $188,480 which is 1% less when compared to this time last year.
 -  The total number of single-family listings in the Austin MLS is 5% less than this time last year at 9335 units.  This is still an oversuppy, and looking at it from a supply and demand standpoint prices are being kept in check – which is a positive for buyers and move up sellers.
-  If you average the number of sales for the last 12 months and divide that figure into the number of current active listings, the result is the number of Months of Inventory (MOI).  In a balanced market, the MOI is between 3.5 and 4.5 months.  Currently, the MOI in the Austin market has remained steady at 6 months which favors buyers.  The average days on the market for single-family homes to sell has continued unchanged at 79 days.

The Austin area’s population increased by 44,000 people last year, and Austin finished the year with less than ½ of 1% negative economic growth.  This topped all 20 major metro areas in the U.S., which is a reflection of Austin’s overall strength.  Most forecasts look for the Austin area to bounce back during 2010 and 2011, returning to positive job growth during March of 2010.  The combination of a talented workforce, excellent area schools, strong business climate and high quality of life will continue to serve the Austin area well into the future.

The recently extended tax credits for homebuyers will increase our market activity into the Spring, and current activity bears this out.  This is indeed a special time; with prices still suppressed, a good selection of homes and interest rates hovering near record lows at 5%, this market is a wonderful opportunity for buyers .

The Georgetown Real Estate Market:
Average sold price – up 1.3% from a year ago to $226,753
Number of Sales YTD – down 11% compared to this time last year
Number of Active Listings – down 5% from last December to 626 listings
Months of Inventory – there is 7.2 months of inventory; an oversupply

The Round Rock Real Estate Market:  
Average sold price – down from a year ago to $208,107
Number of Sales YTD – down 11.5% compared to this time last year
Number of Active Listings – down 17.5% from a year ago to 819 listings
Months of Inventory - steady at 4.4 months; a slight oversupply

The Pflugerville Real Estate Market:  
Average sold price – up slightly from a year ago to $156,000
Number of Sales YTD – down 7% compared to this time last year
Number of Active Listings – steady from last December to 381 listings
Months of Inventory – there is 4.5 months; a slight oversupply

The Cedar Park & Leander Real Estate Market:  
Average sold price – steady from a year ago to $208,917
Number of Sales YTD – down 7.6% compared to this time last year
Number of Active Listings – down 8.3% from a year ago to 739 listings
Months of Inventory – decreasing to 4.7 months; a slight oversupply

The North & Northwest Market:  
Average sold price – down 5.6% from a year ago to $291,296
Number of Sales YTD – up 2.6% compared to this time last year
Number of Active Listings – down 3% from last month to 373; up 1.9% from a year ago
Months of Inventory – a fairly balanced 3.7 months of inventory

The River North (FM 2222) Market:  
Average sold price – down 9% from a year ago to $483,258
Number of Sales YTD – down 9.7% compared to this time last year
Number of Active Listings – down 4.1% from last December to 300 listings
Months of Inventory – there is 8 months; an oversupply

The Austin Westlake Market:  
Average sold price – up 1% from a year ago to $734,643
Number of Sales YTD – up 1.4% compared to this time last year
Number of Active Listings – up 16.2% from a year ago to 316 listings
Months of Inventory – there is 7 months; an oversupply

The Southwest Austin Real Estate Market:  
Average sold price – down 2.5% from a year ago to $226,205
Number of Sales YTD – down 1.3% compared to this time last year
Number of Active Listings – down 10% from last December to 495 listings
Months of Inventory – there is a very healthy 3 months of inventory

Lake (South shore/Lakeway area) Real Estate Market:  
Average sold price – down 5.8% from a year ago to $350,000
Number of Sales YTD – down 3.6% compared to this time last year
Number of Active Listings – slightly less than last month with 734 listings
Months of Inventory – oversupplied and holding at 11.3 months

Lake (North Shore) Real Estate Market 
Average sold price – down 6% from last year to $252,724
Number of Sales YTD – down 11.5% compared to this time last year
Number of Active Listings – steady from last month at 230 listings
Months of Inventory – there is 15.1 months; an oversupply

This report provided by
Mary “B” Battaglia

Coldwell Banker United, Realtors
maryb@maryb.com

♥
“Your Most Dependable Link to Austin Area Real Estate”

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Tags: Austin market report, Austin real estate, Austin real estate statistics, Cedar Park market report, Georgetown market report, Lakeway market report, Northwest Austin market report, Round Rock market report, Southwest Austin market report, Westlake market report

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