Austin Real Estate Sales Breakdown by MLS Area – June 2008 YTD

Below is the breakdown of year-to-date home sales in Austin by MLS area. This is for houses only, no condos, townhomes, etc. I’m often asked, “how is the Austin real estate market?”, to which I reply, it depends on which market you are talking about. There are multiple “markets” and sub-markets in Austin. Here are some summary points I gleaned from the stats.

* Of the 42 Austin MLS areas tracked below, all but 1 have fewer sales Jan-Jun 2008 compared to 2007. The only area with more sales than the same 6-month period last year was the UT area with 26 sales YTD this year compared to 24 last year.

* 28 of the 42 Austin MLS areas have higher average sales prices for 2008 than the same period last year. That’s 2/3 of Austin’s MLS areas experiencing price increases for average sales price.

* The same number (28) of Austin MLS areas have increases in Median Sold prices compared to a year ago.

* 24 MLS areas saw an increase in both average and median sold prices.

* 27 of the 42 Austin MLS areas saw an increase in average price per square foot on homes sold.

* Of the 24 MLS areas that saw an increase in both average sold and median sold prices, 21 of those areas also showed an increase in the average sold price per square foot. This means half of all Austin MLS areas have experienced price increases in all three of the main metrics that indicate price appreciation. These areas generally tend to congregate around Central Austin. 14 of these areas are within a 20 minute drive of downtwon. 7 are east of IH35.

* 7 of the Austin areas saw a decrease in all three metrics of avg, median and psf sales prices. Those areas were 8W (Eanes West), EL (Elgin), LN (Lake North), LS (Lake South), MA (Manor), SC (Far SE Austin) and W (West Austin). It’s interesting that, with the exception of area LN, all of the areas with triple drops are either way above or way below the Austin average and median sales prices. This jives with what we know, that both the upper and lower ends of the market are slow.

* 7 of the 42 MLS area saw a decrease in the Days on Market, meaning homes are selling faster in those areas than a year ago. Most areas saw an increase in days on market, indicating slower sales.

Check the chart below to see how your particular area is doing. As usual, questions and comments are welcome.

MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
All Areas 2008 10496 $253,044 $192,472 2,131 $118.74 65

2007 12941 $252,189 $189,000 2,116 $119.18 56
Change -18.96% 0.34% 4.04% 0.71% -0.36% 16.07%
MLS Area YTD-Apr # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
1A 2008 109 $469,000 $475,000 2,700 $173.70 58
2007 144 $482,394 $452,500 2,670 $180.67 49
Change -24.31% -2.78% 4.97% 1.12% -3.86% 18%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
1B 2008 133 $709,442 $550,500 2,385 $297.46 46
2007 184 $709,311 $590,500 2,614 $271.35 59
Change -27.72% 0.02% -6.77% -8.76% 9.62% -22%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
1N 2008 228 $284,387 $255,000 2,075 $137.05 40
2007 314 $299,551 $269,000 2,202 $136.04 34
Change -27.39% -5.06% -5.20% -5.77% 0.75% 18%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
2 2008 172 $265,959 $256,500 1,443 $184.31 55
2007 225 $249,000 $240,000 1,392 $178.88 30
Change -23.56% 6.81% 6.88% 3.66% 3.04% 83.33%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
2N 2008 152 $151,131 $146,000 1,515 $99.76 50
2007 160 $142,164 $139,700 1,497 $94.97 33
Change -5.00% 6.31% 4.51% 1.20% 5.04% 51.52%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
3 2008 153 $219,262 $203,300 1,481 $148.05 62
2007 168 $195,948 $195,000 1,485 $131.95 42
Change -8.93% 11.90% 4.26% -0.27% 12.20% 47.62%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
3E 2008 81 $161,412 $152,500 1,626 $99.27 74
2007 125 $118,481 $117,000 1,429 $82.91 74
Change -35.20% 36.23% 30.34% 13.79% 19.73% 0.00%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
4 2008 160 $364,465 $341,500 1,541 $236.51 57
2007 195 $350,598 $322,500 1,555 $225.46 48
Change -17.95% 3.96% 5.89% -0.90% 4.90% 18.75%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
5 2008 143 $190,054 $172,000 1,236 $153.77 71
2007 215 $174,169 $156,000 1,159 $150.28 50
Change -33.49% 9.12% 10.26% 6.64% 2.32% 42.00%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
5E 2008 42 $113,270 $109,000 1,668 $67.91 48
2007 48 $108,323 $109,450 1,499 $72.26 64
Change -12.50% 4.57% -0.41% 11.27% -6.03% -25.00%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
6 2008 90 $380,453 $363,750 1,517 $250.79 61
2007 163 $348,915 $315,000 1,505 $231.84 43
Change -44.79% 9.04% 15.48% 0.80% 8.18% 41.86%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
7 2008 64 $428,637 $369,750 1,768 $242.44 54
2007 74 $378,115 $372,500 1,596 $236.91 37
Change -13.51% 13.36% -0.74% 10.78% 2.33% 45.95%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
8E 2008 99 $881,417 $690,000 3,270 $269.55 68
2007 139 $952,716 $759,000 3,656 $260.59 65
Change -28.78% -7.48% -9.09% -10.56% 3.44% 4.62%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
8W 2008 118 $579,957 $472,400 3,056 $189.78 75
2007 146 $649,866 $522,500 3,416 $190.24 66
Change -19.18% -10.76% -9.59% -10.54% -0.24% 13.64%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
9 2008 23 $196,079 $175,000 1,664 $117.84 55
2007 48 $164,015 $154,008 1,545 $106.16 39
Change -52.08% 19.55% 13.63% 7.70% 11.00% 41.03%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
10N 2008 139 $193,771 $173,500 1,438 $134.75 42
2007 147 $181,473 $162,100 1,429 $126.99 24
Change -5.44% 6.78% 7.03% 0.63% 6.11% 75.00%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
10S 2008 330 $178,878 $173,450 1,631 $109.67 41
2007 413 $170,785 $164,000 1,646 $103.76 24
Change -20.10% 4.74% 5.76% -0.91% 5.70% 70.83%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
11 2008 99 $122,477 $117,800 1,445 $84.76 54
2007 171 $120,630 $115,500 1,433 $84.18 50
Change -42.11% 1.53% 1.99% 0.84% 0.69% 8.00%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
CLN 2008 552 $178,421 $156,000 2,028 $87.98 55
2007 662 $162,726 $146,950 1,937 $84.01 52
Change -16.62% 9.65% 6.16% 4.70% 4.73% 5.77%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
CLS 2008 522 $244,064 $217,250 2,399 $101.74 66
2007 609 $229,289 $205,000 2,357 $97.28 56
Change -14.29% 6.44% 5.98% 1.78% 4.58% 17.86%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
EL 2008 142 $123,290 $120,545 1,771 $69.62 71
2007 157 $130,541 $124,000 1,751 $74.55 72
Change -9.55% -5.55% -2.79% 1.14% -6.62% -1.39%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
GTE 2008 158 $167,315 $156,256 1,842 $90.83 71
2007 216 $149,698 $135,350 1,718 $87.14 50
Change -26.85% 11.77% 15.45% 7.22% 4.24% 42.00%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
GTW 2008 375 $247,543 $220,000 2,219 $111.56 88
2007 443 $254,219 $218,000 2,245 $113.24 69
Change -15.35% -2.63% 0.92% -1.16% -1.49% 27.54%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
HD 2008 210 $368,920 $357,745 2,921 $126.30 106
2007 224 $426,019 $343,689 2,897 $147.06 88
Change -6.25% -13.40% 4.09% 0.83% -14.11% 20.45%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
HH 2008 488 $178,108 $155,975 2,067 $86.17 65
2007 576 $170,233 $152,900 2,005 $84.90 66
Change -15.28% 4.63% 2.01% 3.09% 1.49% -1.52%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
HU 2008 248 $155,643 $144,793 2,032 $76.60 61
2007 366 $147,217 $137,618 1,855 $79.36 70
Change -32.24% 5.72% 5.21% 9.54% -3.49% -12.86%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
LN 2008 96 $271,379 $199,450 2,019 $134.41 80
2007 125 $319,663 $205,000 2,181 $146.57 82
Change -23.20% -15.10% -2.71% -7.43% -8.29% -2.44%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
LS 2008 367 $264,276 $350,000 2,799 $94.42 105
2007 440 $444,829 $369,000 2,696 $165.00 82
Change -16.59% -40.59% -5.15% 3.82% -42.78% 28.05%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
MA 2008 145 $149,792 $133,000 1,966 $76.19 75
2007 187 $154,609 $134,000 1,877 $82.37 71
Change -22.46% -3.12% -0.75% 4.74% -7.50% 5.63%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
N 2008 194 $190,760 $185,000 1,844 $103.45 35
2007 274 $187,873 $180,000 1,913 $98.21 27
Change -29.20% 1.54% 2.78% -3.61% 5.34% 29.63%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
NE 2008 159 $155,116 $155,000 1,829 $84.81 54
2007 195 $151,929 $153,470 1,749 $86.87 51
Change -18.46% 2.10% 1.00% 4.57% -2.37% 5.88%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
NW 2008 290 $258,102 $211,950 2,269 $113.75 38
2007 404 $245,965 $200,000 2,280 $107.88 31
Change -28.22% 4.93% 5.98% -0.48% 5.44% 22.58%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
PF 2008 662 $168,537 $159,650 2,043 $82.49 62
2007 745 $164,442 $155,000 2,069 $79.48 57
Change -11.14% 2.49% 3.00% -1.26% 3.79% 8.77%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
RN 2008 225 $521,624 $403,435 3,270 $159.52 98
2007 321 $529,930 $459,000 3,452 $153.51 80
Change -29.91% -1.57% -12.11% -5.27% 3.91% 22.50%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
RRE 2008 697 $188,250 $164,739 2,206 $85.34 63
2007 870 $178,945 $153,000 2,094 $85.46 56
Change -19.89% 5.20% 7.67% 5.35% -0.14% 12.50%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
RRW 2008 610 $239,453 $223,398 2,528 $94.72 67
2007 760 $237,490 $220,000 2,493 $95.26 53
Change -19.74% 0.83% 1.54% 1.40% -0.57% 26.42%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
SC 2008 93 $178,377 $156,440 2,099 $84.98 50
2007 103 $199,587 $182,765 2,239 $89.14 61
Change -9.71% -10.63% -14.40% -6.25% -4.67% -18.03%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
SE 2008 87 $127,162 $129,990 1,796 $70.80 51
2007 109 $121,710 $119,280 1,740 $69.95 43
Change -20.18% 4.48% 8.98% 3.22% 1.22% 18.60%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
SWE 2008 348 $228,682 $215,000 2,097 $109.05 52
2007 354 $229,278 $210,465 2,138 $107.24 41
Change -1.69% -0.26% 2.15% -1.92% 1.69% 26.83%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
SWW 2008 317 $309,849 $285,000 2,509 $123.50 53
2007 388 $298,203 $280,000 2,485 $120.00 33
Change -18.30% 3.91% 1.79% 0.97% 2.91% 60.61%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
UT 2008 26 $468,383 $408,500 1,812 $258.49 63
2007 24 $443,621 $416,500 1,920 $231.05 57
Change 8.33% 5.58% -1.92% -5.63% 11.87% 10.53%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days
W 2008 133 $453,826 $346,500 2,877 $157.74 67
2007 169 $584,934 $349,000 3,100 $188.69 64
Change -21.30% -22.41% -0.72% -7.19% -16.40% 4.69%

Austin MLS Map

Posted by Steve
8 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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Tim - 8 years ago

In Lakeway, Avg price per sqft decreased by about 42%. But the median price dropped 5% only. How come?

Reply
Steve - 8 years ago

Hi Tim,

Median values are less volatlie than average values, so they will swing much less than average values. For 2007, there were most likely one or more very high value sales that moved the average sales price upward while not having the same affect on the median values. This year, there is fewer high value sales, and that moves the average more than the median change.

Steve

Reply
Bret - 8 years ago

Hi Steve,

I find if difficult to lump all of Austin into a single market and assumme there was no boom during the past 2 or 3 years. There are areas of the city such as Tarrytown, Hyde Park or Bouldin were the prices skyrocketed. I found a very interesting analysis in another website, and I would really like to know what you think about it.

Thanks,

“While the broad Austin market experienced only modest growth over the last five years, prices in central Austin have soared. Between early 2005 and late 2007- just a little over two years — prices for single family homes increased by 41% in Area 4 (Hyde Park), 43% in Area 2 (Allandale & north central Austin), 55% in Bouldin (near Zilker Park), and an incomprehensible 2-year gain of 83% in Area 3 which covers East Austin close to downtown. During this short period the typical central East Austin house increased in value from a median price of $168K to more than $255K. In Bouldin, price per square foot for the median house peaked at more than $300 / square foot in the second half of 2007.”

Reply
Nate - 8 years ago

I’d be curious about the DT area and the stats for the condos resales. I saw a listing in the Austin City Lofts advertised as a “pre foreclosure”. Geeezz, I though DT was hot, hot , hot!

Dig the blog, thanks Steve!

Reply
anonymous - 8 years ago

I know in my area of town (NW), my house has seen about 23% appreciation since I bought in 2005. That’s about 7.5% per year. Historically, Texas is <3% appreciation; with 1970s through mid 1990s I believe having only ~$1k/yr appreciation for median homes arround $80-100k. Of course, these are averages, and during the S&L boom, appreciation was double-digit %’s, which turned to double-digit % drops when that bubble burst.

Reply
Brian - 8 years ago

2007 Median Sold should be $185,000. I think you accidentally put 2007 Median List in its place ($189,000). Percent difference is right.

As someone looking to move to Austin from New York City next June, I enjoy your blog as a way to keep up with the market down there. Thanks.

Reply
Rodney Farr - 8 years ago

Yada,yada,yada –

Thanks for the statistics, they can be helpfull if someone knows how to interpret them properly. These are all gross averages an bear little relevance to an individual property in a given area. They should only be used to note trends, etc. Bottom line, a little knowlege is dangerous. Prospective buyers/sellers, find or become an expert in order to sort through the details or you can get burned in any market..

Good luck

Reply
Steve - 8 years ago

Hi Rodney,

> Yada,yada,yada…hese are all gross averages an bear little relevance to an individual property in a given area.

I think most readers clearly understand that. Trends and market direction are important though and do affect the pricing decisions for individual homes.

Steve

Reply
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