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.

Austin Sales Stats February 2007
Previous Month and Year Comparison
All MLS Areas - Houses Only

 
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.

Austin YTD Sales Stats Feb 2007
Year to Date Previous Year Comparison
All MLS Areas - Houses Only

 
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.

Austin Sales Stats (resale) YTD Feb 2007
Year to Date Previous Year Comparison
All MLS Areas - Houses Only - New Homes Excluded
 
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.

Posted by Steve
9 years ago
Steve

Steve is a Real Estate Blogger, Husband and Dad, UT Austin Grad, Runner, Real Estate Broker and owner of Crossland Team and Crossland Real Estate in Austin TX.

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Jennifer Taylor - 9 years ago

Hi Steve and Sylvia,
As always I enjoy following Austin trends through your site. What is the boundary between area 10 north and south? Jennifer Taylor

Reply
Steve - 9 years ago

Hi Jennifer. Hope everything is going well in San Francisco. We just sold another one in your neighborhood.

The boundary line between 10N and 10S is Williams Cannon Dr. Your house is in 10S.

Steve

Reply
Jennifer Taylor - 9 years ago

Steve, all is good here but I still daydream about an eventual move to Austin for those long warm nights on the screen porch, beer and queso in hand. We’ll get in touch if we can pull off a visit later this year. All best to you both.

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