Austin Real Estate Statistics - Is The Market Turning?!
Single Family Monthly Graphs
Note to readers: The Wise Assessment is posted on the first day of every month. We post our stats later that other real estate companies because we want the most accurate numbers available…and this makes them worth waiting for! Other agents simply copy and paste graphs that they get from other sources and offer no opinions to the marketplace conditions. We track data in house and compare the market on a whole to what we produce internally in order to produce an opinion of the data and give our thoughts of what we are personally experiencing as a top company in Austin.
Keep reading for the written Wise Assessment and/or listen to our interpretations on our latest VLOG:




Overall Market Summary Report
|
Property Type |
Sales |
% Change Year Ago |
Dollar Volume |
% Change Year Ago |
Average Price |
% Change Year Ago |
| Single Family |
1,823 |
38% |
$434,975,092 |
35% |
$238,604 |
-2% |
| Townhouse/Condo |
170 |
39% |
$31,440,310 |
30% |
$184,943 |
-6% |
| Farm/Ranches |
21 |
-30% |
$5,624,976 |
-47% |
$267,856 |
-24% |
| Multifamily |
36 |
0% |
$6,633,108 |
1% |
$184,253 |
1% |
| Lots |
86 |
-30% |
$9,973,936 |
-51% |
$115,976 |
-30% |
| Commercial |
15 |
-25% |
$5,370,900 |
-53% |
$358,060 |
-37% |
| Lease |
1,080 |
1% |
$1,362,960 |
1% |
$1,262 |
0% |
| Commercial Lease |
13 |
18% |
$103,545 |
217% |
$7,965 |
168% |
The Wise Assessment
SELLERS: Supply (Active Listings) is decreasing, at a much slower rate than in recent months/years, and sales are increasing at an unprecedented rate - we are rapidly approaching the sales levels of the ‘good ole days’ of 2005 and 2006. With all else being equal, these two indicators suggest that sales price should also increase (demand increases, supply decreases, and price must increase). However, we have experienced yet another monthly fall in prices … why? What force would cause the fundamental laws of economics to seemingly betray itself?? One force that we have been studying is the influx of first-time home buyers in the market due to three specific factors:
- Interest rates - rates remain extremely low which allows otherwise unqualified buyers to purchase homes in this market
- Prices - prices are extremely affordable and lower than they have been in years
- $8,000 tax credit - the governmental intervention and tax credit has incentivized buyers and made it possible for some buyers to have the necessary cash funds to purchase homes
With more and more buyers entering the market because of the extended and expanded tax credit, demand continues to increase … and supply is still on the decline. What this means is that there are MORE buyers wanting homes and LESS homes to choose from, reducing the amount of competition. If you have been thinking about selling your home, now might just be the best time.
NOTE: While this is great news for most of our sellers, we must also keep in mind that the overall market is still down over the past few years. So, if you bought your Austin home in the past few years and are selling it today, your home is most likely worth less than what you paid for it - not worth more. That means you will not be selling for a profit but for a loss. To learn more about pricing your home, read Krisstina’s article, “Are You Still Living In A Bubble“.
What Is My Austin 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 home.
BUYERS: Interest rates have just taken another dip, sales prices remain low, and this means that your mortgage payments will be lower now than in the past. Buyers should definitely take heed of the message above to sellers: there are more buyers looking to buy fewer homes. What this means to you is that you must be pre-approved with a mortgage banker before you start looking for homes and be prepared to write an offer. Homes are staying on the market for shorter durations and we are experiencing many multiple offers on our most desired Austin homes for sale. Need an accomplished and trusted mortgage banker to help find you a loan? Contact us to get in touch with Kristin Carroll, our partner in the home lending business.
“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 now What That Home Is Worth.
Property Virgins (aka First-time Homebuyers): Did you miss the great opportunity to take advantage of the $8,000 tax credit? GREAT NEWS: The tax credit has been extended … so you didn’t miss this unique opportunity to take advantage of your very own stimulus package! Want to learn more about the extension and what it means to you? Read Krisstina’s article about The First Time Home Buyer Extension or click here to chat online with one of our specialists now.

Sales Closed by Month (Demand)
This has never happened … at least in the 12 years I have been in real estate. We are living in a time that sales are increasing in the fall; historically we see the sharpest decline of sales all year during this time. As noted above, there are 3 factors we are attributing to this:
- Interest rates - rates remain extremely low and allow otherwise unqualified buyers to purchase homes in this market
- Prices - prices are extremely affordable and lower than they have been in years
- $8,000 tax credit - the governmental intervention and tax credit has incentivized buyers and made it possible for some buyers to have the necessary cash funds to purchase homes

Active Listings (Supply)
We are entering a season when demand for homes traditionally decline to an annual low, so sellers decide to wait for spring to put their home on the market. However, sales are way up. Inventory is being absorbed at an increasing rate by the increase of buyers in the market. Supply is declining. If you are thinking of selling in the next 12 months, you may want to consider now as a perfect time to put your Austin home on the market. You will have less competition and more demand. That being said, you will still want to obtain expert help from a qualified real estate professional who can design a thorough strategy to get you the most amount of money in the least amount of time.

Average Sales Price
If we worked and lived in a vacuum where there was only one product, current supply and demand would force the sales price to increase. However, since we have a very broad range of product (low-income housing to lakefront mansions) the rate of sale of the different products affects the average sales price. Since we have had a government incentive for first time homebuyers, lower priced homes have sold very rapidly this fall. Because of this, the average sales price has declined.
In fact, last month we sold 3 homes for full price with multiple offers…before they ever hit the market! Interestingly, they all were between $150,000 and $225,000.
BTW, We do have very specific data for every price range and area of town. Want specific data pertaining to your neighborhood or your own home? We have it! Please let us know if you would like a neighborhood-specific analysis by emailing us at experience@goodlifeteam.com or calling us at 512.892.9473.
Simple Summary
Want to sell your house more quickly than your competitor?
Get really good help from proven professionals
and
Price your house accordingly.
The data provided to create these graphs are available to you by FREE subscription to our monthly update service. Please email us experience@goodlifeteam.com to receive your monthly update. Or, catch the wave and follow @GoodLifeTeam on Twitter.















