Austin Real Estate – Feb 2007 Sales Market Update
February real estate sales stats for Austin show a modest gain over the same month last year. Number of sales for single family homes is up 1.5% from Feb 2006. The Average Sales price is up 3.0% from $231,337 in Feb 2006 to $238,374 in Feb 2007. Median sales price is up 5% from $171,250 to $179,000. Average price per square foot is up 2.7% from $111 to $114.
These numbers seem flat compared to what Sylvia and I are actually experiencing in South Austin, so I checked the stats on the areas we work to see what was going on.
Area 10N: Avg Price up 21%, Median price up 6.01%
Area 10S: Avg Price up 15%, Median price up 13.33%
Area SWE: Avg Price up 12.7%, Median price up 13.62%
Area SWW: Avg Price up 5.09%, Median Price up 2.81%
Not sure what’s up in area SWW. It’s been hot for the homes we’ve sold. There are some pockets that do better than others, and we’re also dealing with small sample sizes.
|
Jan 2007
|
Feb 2007
|
Feb 2006
|
Yr % Change
|
|
| # Sold |
1360
|
1583
|
1559
|
1.5%
|
| Avg List Price |
$254,404
|
$245,601
|
$237,777
|
3.3%
|
| Median List Price |
$180,000
|
$184,700
|
$174,500
|
5.8%
|
| Avg Sold Price |
$246,595
|
$238,374
|
$231,337
|
3.0%
|
| Med Sold Price |
$176,305
|
$179,900
|
$171,250
|
5.0%
|
| Avg Size SQFT |
2098
|
2090
|
2086
|
0
|
| Median SQFT |
1880
|
1913
|
1878
|
1.9%
|
| Avg $ per SQFT |
$118
|
$114
|
$111
|
2.7%
|
| Avg Days on Mkt |
76
|
68
|
71
|
-4.2%
|
| Median Days on Mkt |
54
|
45
|
49
|
-8.2%
|
Here are the Year to date numbers through Feb 2007.
|
YTD Feb 2006
|
YTD Feb 2007
|
Yr % Change
|
|
| # Sold |
2995
|
2979
|
-0.5%
|
| Avg List Price |
$240,586
|
$249,416
|
3.7%
|
| Median List Price |
$174,900
|
$182,934
|
4.6%
|
| Avg Sold Price |
$233,316
|
$241,914
|
3.7%
|
| Med Sold Price |
$171,250
|
$178,000
|
3.9%
|
| Avg Size SQFT |
2094
|
2094
|
0
|
| Median SQFT |
1913
|
1902
|
-0.6%
|
| Avg $ per SQFT |
$111
|
$116
|
3.6%
|
| Avg Days on Mkt |
74
|
72
|
-2.7%
|
| Median Days on Mkt |
52
|
50
|
-3.8%
|
Here are YTD number with new homes filtered out.
|
YTD Feb 2006
|
YTD Feb 2007
|
Yr % Change
|
|
| # Sold |
2287
|
2220
|
-0.2%
|
| Avg List Price |
$232,350
|
$238,195
|
2.5%
|
| Median List Price |
$169,500
|
$175,250
|
3.4%
|
| Avg Sold Price |
$225,568
|
$231,544
|
2.6%
|
| Med Sold Price |
$165,000
|
$173,000
|
4.9%
|
| Avg Size SQFT |
2050
|
2045
|
-2.4%
|
| Median SQFT |
1870
|
1855
|
-0.8%
|
| Avg $ per SQFT |
$110
|
$113
|
2.7%
|
| Avg Days on Mkt |
68
|
64
|
-5.9%
|
| Median Days on Mkt |
45
|
42
|
-6.7%
|
Next month I’ll do a breakdown by area for Q1 2007 compared to Q1 2006. Started to do it this month but keep running into bad data that I have to report to the Austin MLS for correction. Very frustrating that other agents can’t enter their data correctly and it throws everything off. For example, area HD was through the roof on the year to year comparison of average sales values. Turns out a house on 300+ acres that sold for more than $12 Million is entered as a residential sale. Anything over 10 acres is supposed to be Farm and Ranch. That would have made area HD average sales amount jump from $252K in 2006 to almost $600K in 2007, which is obviously not an accurate reflection of residential sales values in that area. I run into these sort of data anomolies every month and usually filter them out when I catch them if they create a significant skewing of the data.
