> 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

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

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.

Dig the blog, thanks 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.”

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