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Austin Real Estate Market – July 2010 Update

Real Estate Market Stats

The Austin real estate market is chugging through the summer and producing some interesting stats. By that I mean that the stats shown below look better than some of the actual outcomes we are seeing in the market. Some homes are selling fast, at or close to list price, and others are not moving. In years past, I could find segments of the market or trends to point to. We still have some of those – some general rules of thumb – but we see a lot of activity, or lack thereof, with no rhyme or reason.

Lets start with the Year to Date chart through July 2010. You’ll note that almost every row shows improvement over the same period a year ago.

Austin Sales Market YTD July 2010
Homes only (no condos, duplexes, etc) – Data from Austin MLS

Jan-Jul 10 Jan-Jul 09 Yr % Change
# Sold 11078 10538 5.12%
Avg List $264,453 $256,940 2.92%
Med List $199,900 $199,810 0.05%
Avg Sold $254,160 $245,549 3.51%
Med Sold $195,000 $193,021 1.03%
Sold/List % 96.11% 95.57% 0.57%
Avg SQFT 2198 2188 0.46%
Med SQFT 2008 1986 1.11%
Avg $ SQFT $115.63 $112.23 3.04%
Avg DOM 67 77 -12.99%
Median DOM 40 50 -20.00%
# Expired 2809 3035 -7.45%
# Withdrawn 4955 4634 6.93%
Not Sold 7764 7669 1.24%
Not Sold % 41.21% 42.12% -2.17%


Volume (number sold) is up 5%, Avg Sold price is up 3.5%, Median is up 1%, Days on market (DOM) is way down, and the number of Not Solds is down slightly. In other words, it’s all good news.

But for a lot of sellers, and buyers too, it doesn’t feel like “all good news”.
Read more …

Posted by Steve
6 years ago