Overall Market Summary Report
Property Type | Sales | % Change Year Ago | Dollar Volume | % Change Year Ago | Average Price | % Change Year Ago |
| Single Family | 1,373 | 5% | $358,863,756 | 11% | $261,372 | 6% |
| Townhouse/Condominium | 151 | 31% | $25,483,515 | 35% | $168,765 | 3% |
| Farm/Ranches | 30 | 15% | $8,052,150 | -30% | $268,405 | -40% |
| Multifamily | 37 | 61% | $6,963,474 | 58% | $188,202 | -2% |
| Lots | 84 | 27% | $10,953,264 | 95% | $130,396 | 53% |
| Commercial | 22 | 69% | $7,959,974 | 81% | $361,817 | 7% |
| Lease | 1,064 | 12% | $1,312,976 | 9% | $1,234 | -2% |
| Commercial Lease | 11 | 0% | $17,985 | -9% | $1,635 | -9% |
- Move-up: if you are selling a home and looking to ‘move-up’ or buy a more expensive home, the very best time to do this is when the market is down (like now)
- Move-down: if you are selling a home and looking to ‘move-down’ or buy a less expensive home, the very best time to do this is when the market is hot (not now)
Average Sales Price“WOW! My home is now worth $50,000 more than it was last month!” While the graph alone would indicate your home is worth 10% more now than it was in November, this is not the whole story. Let’s examine:- This past fall the government offered 8,000 reasons (in dollars) for first-time home buyers (property virgins) to buy homes before December
- This incentive prompted a large number of virgins to buy homes, which drove the average price down while, at the same time, supply and demand increased
- In December, there was a significant decline in the number of virgin buyers, which drove prices back up
- Also in December, there was a higher percentage of homes sold in the $300K-$1M price range than in previous months
- Is your home worth more now? The only way to make an assessment of value for your home is to investigate your specific home and see how it compares and competes in the current market.
Sales Closed by Month (Demand)The number of sales in December followed the seasonal cycle of sales in Real Estate in Austin. While we did experience an unusual number of home sales in September and October of 2009 because of the Virgin tax credit, the market returned to its normal operating procedures once the original credit was scheduled to expire. Barring any disaster, the number of sales in Austin should coincide with the temperature increases….stay tuned and check that weather report!
Active Listings (Supply)Again, we are following the cyclical trend of there being fewer homes available for sale in the fall and winter than in the spring and summer. We did notice, however, that the number of home sales increased in the fall over the previous years, which caused the supply to remain low.We are anticipating the inventory to increase drastically in early 2010, as the graph reflects for the previous years, so be on the look out for a greater number of homes on the market in the coming months. Offers of Help- What Is My Home Worth? Want to get a good idea of what your home is worth … and find out right now online? Check out our Market Snapshot for an analysis of the value of your Austin home.
- What Is That Home Worth? “Stop the car, honey … look at that house. I wonder what it’s worth?!?” Does this ever happen to you? Ever wonder what that house is worth? Find out the value of that Austin neighborhood or home.
- What do I need to know before I sell? Typically when a home does not sell, there is one reason…and it isn’t price. We invite you to look at several key factors to consider before selling your home. Visit One Reason for more information.
