It’s getting real hard to write about the Austin real estate market when month after month it just keeps doing what is expected, treading water overall, doing well under $200K, especially close in, and still soft in the $400K+ price ranges. That really sums it up, month after month. At the beginning of the year I predicted Austin would be down 3% to 5% overall this year, and we’re still on track for that.
For July, the average sold price compared to July 2008 is down about 4%, a bit more than the 3% average we’ve been seeing each month, but not a surprise. Median sold price is down 1.5%. Average price per square foot is down 5% from a year ago. Days on market is up to 71 average and 44 median, which are not bad numbers, but still worse than a year ago, which was worse than the year before. See the chart below for the previous month and pevious year comparisons for July.
Austin Real Estate Sales Market Update July 2009 | ||||
Homes only (condos, duplexes, etc. not included) compiled from Austin MLS data | ||||
Jun 2009 | Jul 2009 | Jul 2008 | Yr % Change | |
# Sold | 2031 | 1950 | 2017 | -3.32% |
Avg List | $264,959 | $259,167 | $269,724 | -3.91% |
Med List | $206,000 | $199,900 | $203,000 | -1.53% |
Avg Sold | $254,059 | $249,560 | $260,832 | -4.32% |
Med Sold | $200,000 | $195,000 | $198,000 | -1.52% |
Sold/List % | 95.89% | 96.29% | 96.70% | -0.42% |
Avg SQFT | 2221 | 2188 | 2166 | 1.02% |
Med SQFT | 2012 | 1985 | 1962 | 1.17% |
Avg $ SQFT | $114.39 | $114.06 | $120.42 | -5.28% |
Avg DOM | 77 | 71 | 61 | 16.39% |
Median DOM | 48 | 44 | 39 | 12.82% |
# Expired | 392 | 476 | 537 | -11.36% |
# Withdrawn | 679 | 825 | 881 | -6.36% |
Not Sold | 1071 | 1301 | 1418 | -8.25% |
Not Sold % | 34.53% | 40.02% | 41.28% | -3.06% |
The year-to-date chart is below. For the year Austin Average Sold price for houses is down 2.96%, median is down is dead even at 0% change, and average price per square foot is down about 5%. Our “not sold” are holding at 42%. See below for the details