We’re at mid-year (June 2009 stats) for the Austin real estate market stats, and still the Austin real estate market is hanging tough. We continue to see stubborn bouncing up and down from month to month, as the graph to the left shows (click to enlarge), but the overall yearly trend is holding steady at around 3% below last year’s YTD.
Let’s look at the breakdown of the Austin single family home sales for June 2009:
• Number of homes sold is down 9% (was down 27% last month) from 2,178 June 2008 to 1,986 June 2009. This is a small decline compared to what we’ve been seeing for the past year, in which most months decline by more than 20% over the year before.
• Average list prices in Austin were down 2% over the same month last year to $265,868.
• Average sold prices in Austin were down 2.9% over the same month last year to $254,924 from $262,512 last year.
• Median sold price was up slightly (0.11%) to $200,500. Last year in June it was $200,278.
• Average List to Sold price ratio is 95.88%, down slightly from 96.40% the same month last year. Note that this reports the sold price compared to the last list price, not the original list price.
• Avg sold price per square foot is down almost 7% to $115 compared to $123 a year ago in Mar.
• Avg days on market is up 16 days (26%) from 61 last year to 77 this June.
• Median days on market is up 14 days (33%) from 36 days last year to 48 June this year.
• Number of “Not Sold” (exp or withdrawn) is down 12% over the same month last year, to 34% of all removed listings compared to 36% for the same month last year.
The chart below shows the June stats for 2009/2008, plus last month’s stats.
|Austin Real Estate Sales Market Update|
|Homes only (condos, duplexes, etc. not included) compiled from Austin MLS data|
|May 2009||Jun 2009||June 2008||Yr % Change|
|Avg $ SQFT||$123.43||$114.62||$122.96||-6.78%|
|Not Sold %||35.10%||34.99%||35.92%||-2.59%|
Below is the Year to data stats for the Austin sales market.