Below are the YTD Sept 2008 stats for Austin homes sales, broken out by MLS area as compared to 2007 sold stats.
Here is a quick summary, the full chart is below.
Number of Sales
Of the 42 MLS areas tracked, the number of sales decreased in 41. Only the UT area had more home sale YTD Sept (34 last year, 39 this year). Number of sales are down 15.6% citywide compared to the same period a year ago.
Average Sales
The average sales price increased in 29 of the 42 MLS areas, decreasing in 13 of the MLS areas tracked. Of the 29 areas with appreciating sales prices, 10 have appreciation higher than 5%, and 3 areas appreciated more than 10%. Of the 13 areas that depreciated, 2 have depreciation of more than 5%.
Median Sale Prices
The median sales price increased in 28 of the 42 MLS areas, decreasing in 14 of the MLS areas tracked. Of the 28 areas with appreciating median sales prices, 10 have appreciation higher than 5%, and 4 areas appreciated more than 10%. Of the 14 areas that depreciated, 3 have depreciation of more than 5% in median sales value.
Average Sold price per square foot
The average sales price per square foot increased in 25 of the 42 MLS areas, decreasing in 17 of the MLS areas tracked. Of the 25 areas with appreciating sales prices, 6 have appreciation higher than 5%, and 2 areas appreciated more than 10% in avg price per sqft. Of the 17 areas that depreciated, 3 have depreciation of more than 5% in psf value.
Days on Market
Average and Median days on market increased in most areas. Only 8 out of 42 areas have lower avg dom and only 2 out of 42 have lower median days on market. Citywide, days on market is up 16% to an average of 65 days sold, and 42 median days sold. These are actually very good numbers, but they somewhat mask the high number of failed sales attempts. At present, the average days on market of Active listings in Austin is 97 days and the median is 75 days. More than half of the active listings will fail to sell, most with higher days on market, which leaves the quicker selling homes to set the stats.
The full chart is below. A MLS map is below the chart if you’re not familiar with Austin’s MLS areas. As usual, questions and comments area welcome.