Austin Real Estate Market -Feb 2008 YTD MLS Area Breakdown

Below is Year to Date breakdown for sales of single family homes in Austin by MLS Area. Something interesting happened when I was running these stats that reminded me of the big swings that can be caused by just one or two sales when we are looking at small sample sizes.

About half way through, I realized that this year is leap year, so I was running 2008 sales from 1/1/2008 thru 2/28/2008, which means I was unintentionally excluding homes that closed Feb 29, 2008, so I had to go back and recalculate the values. In doing so, as I typed revised sales numbers numbers into my excel spreadsheet and watched the percentage fields change, it was interesting to me to see the resulting percentage changes.

For example, MLS Area 6 had 15 sales through Feb 28th. These 15 sales had an average sales price of $329,028 (2.51% higher than the year before) and a median sales price of $281,000 (4.75% lower than the year before). When the 16th sale from Feb 29th was was factored in, the median sales price fell from $281,000 to $258,000, changing the percentage drop from -4.75 to -12.54%. The Average Sales price change went from 2.51% to 0.68%.

So remember, with many of these MLS Areas we are dealing with very small sample sizes this early into the year.

MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
All Areas 2008 2690 $242,475 $185,000 2,117 $114.54 71 54

2007 3123 $241,119 $181,900 2,092 $115.26 67 46
Change -13.86% 0.56% 1.70% 1.20% -0.63% 5.97% 17.39%
MLS Area YTD-Apr # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
1A 2008 23 $495,911 $429,000 2,708 $183.13 66 53
2007 35 $445,246 $425,000 2,684 $165.89 57 39
Change -34.29% 11.38% 0.94% 0.89% 10.39% 16% 36%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
1B 2008 26 $803,952 $619,500 2,769 $290.34 66 54
2007 40 $662,025 $540,000 2,527 $261.98 81 65
Change -35.00% 21.44% 14.72% 9.58% 10.83% -19% -11
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
1N 2008 52 $270,678 $238,500 2,031 $133.27 61 45
2007 70 $275,725 $256,500 2,121 $130.00 58 36
Change -25.71% -1.83% -7.02% -4.24% 2.52% 5% 25%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
2 2008 47 $257,277 $250,000 1,440 $178.66 60 42
2007 52 $232,415 $217,000 1,417 $164.02 49 33
Change -9.62% 10.70% 15.21% 1.62% 8.93% 22.45% 27%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
2N 2008 41 $138,651 $147,700 1,432 $96.82 61 43
2007 42 $137,545 $133,250 1,526 $90.13 52 35
Change -2.38% 0.80% 10.84% -6.16% 7.42% 17.31% 23%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
3 2008 37 $196,168 $189,000 1,392 $140.93 52 31
2007 42 $174,076 $180,000 1,501 $115.97 43 24
Change -11.90% 12.69% 5.00% -7.26% 21.52% 20.93% 29%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
3E 2008 18 $226,547 $160,703 1,777 $127.49 73 59
2007 30 $111,598 $116,000 1,301 $85.78 85 55
Change -40.00% 103.00% 38.54% 36.59% 48.62% -14.12% 7%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
4 2008 48 $376,259 $329,000 1,597 $235.60 67 56
2007 45 $342,338 $305,000 1,567 $218.47 50 22
Change 6.67% 9.91% 7.87% 1.91% 7.84% 34.00% 155%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
5 2008 44 $209,907 $177,500 1,293 $162.34 81 70
2007 57 $151,348 $130,000 1,065 $142.11 62 17
Change -22.81% 38.69% 36.54% 21.41% 14.24% 30.65% 312%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
5E 2008 10 $116,370 $107,450 1,754 $66.35 64 68
2007 7 $104,757 $108,000 1,519 $68.96 87 102
Change 42.86% 11.09% -0.51% 15.47% -3.80% -26.44% -33%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
6 2008 16 $323,152 $258,000 1,441 $224.26 42 29
2007 45 $320,960 $295,000 1,466 $218.94 53 31
Change -64.44% 0.68% -12.54% -1.71% 2.43% -20.75% -6%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
7 2008 15 $422,225 $410,000 1,724 $244.91 55 41
2007 14 $319,364 $282,500 1,391 $229.59 44 27
Change 7.14% 32.21% 45.13% 23.94% 6.67% 25.00% 52%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
8E 2008 21 $1,028,925 $764,500 3,603 $285.57 91 60
2007 36 $933,912 $781,250 3,922 $238.12 87 42
Change -41.67% 10.17% -2.14% -8.13% 19.93% 4.60% 43%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
8W 2008 20 $450,145 $420,000 2,594 $173.53 75 51
2007 29 $626,885 $489,000 3,439 $182.29 65 40
Change -31.03% -28.19% -14.11% -24.57% -4.80% 15.38% 28%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
9 2008 5 $191,100 $160,000 1,375 $138.98 50 61
2007 11 $162,630 $155,000 1,444 $112.62 70 55
Change -54.55% 17.51% 3.23% -4.78% 23.40% -28.57% 11%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
10N 2008 36 $217,299 $168,300 1,537 $141.38 43 24
2007 40 $175,263 $146,500 1,414 $123.95 32 17
Change -10.00% 23.98% 14.88% 8.70% 14.06% 34.38% 41%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
10S 2008 80 $173,263 $166,458 1,623 $106.75 54 42
2007 96 $160,843 $157,000 1,579 $101.86 31 13
Change -16.67% 7.72% 6.02% 2.79% 4.80% 74.19% 223%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
11 2008 27 $124,062 $116,000 1,482 $83.71 61 51
2007 44 $116,960 $110,000 1,460 $80.11 79 44
Change -38.64% 6.07% 5.45% 1.51% 4.50% -22.78% 16%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
CLN 2008 147 $175,049 $152,000 2,008 $87.18 57 41
2007 141 $159,840 $140,630 1,978 $80.81 59 37
Change 4.26% 9.52% 8.09% 1.52% 7.88% -3.39% 11%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
CLS 2008 120 $228,200 $206,100 2,248 $101.51 68 54
2007 161 $213,051 $193,500 2,279 $93.48 65 47
Change -25.47% 7.11% 6.51% -1.36% 8.59% 4.62% 15%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
EL 2008 42 $124,092 $124,266 1,802 $68.86 78 84
2007 29 $112,380 $105,750 1,579 $71.17 75 67
Change 44.83% 10.42% 17.51% 14.12% -3.24% 4.00% 25%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
GTE 2008 41 $158,893 $150,000 1,695 $93.74 72 65
2007 52 $147,128 $130,707 1,639 $89.77 67 46
Change -21.15% 8.00% 14.76% 3.42% 4.43% 7.46% 41%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
GTW 2008 105 $259,145 $215,000 2,248 $115.28 90 69
2007 114 $238,005 $211,634 2,129 $111.79 71 54
Change -7.89% 8.88% 1.59% 5.59% 3.12% 26.76% 28%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
HD 2008 52 $354,329 $331,847 2,795 $126.77 115 95
2007 53 $592,418 $329,000 2,846 $208.16 90 72
Change -1.89% -40.19% 0.87% -1.79% -39.10% 27.78% 32%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
HH 2008 130 $177,206 $154,900 2,094 $84.63 69 52
2007 120 $166,035 $154,753 1,985 $83.64 83 66
Change 8.33% 6.73% 0.09% 5.49% 1.17% -16.87% -21%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
HU 2008 61 $152,688 $142,035 2,097 $72.81 69 46
2007 100 $148,795 $134,174 1,840 $80.87 68 55
Change -39.00% 2.62% 5.86% 13.97% -9.96% 1.47% -16%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
LN 2008 27 $317,264 $192,000 2,199 $144.28 77 57
2007 30 $272,461 $186,250 1,974 $138.02 84 71
Change -10.00% 16.44% 3.09% 11.40% 4.53% -8.33% -20%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
LS 2008 87 $443,219 $310,000 2,682 $165.26 111 87
2007 95 $420,351 $317,510 2,679 $156.91 82 62
Change -8.42% 5.44% -2.37% 0.11% 5.32% 35.37% 40%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
MA 2008 39 $156,126 $159,900 2,039 $76.57 72 43
2007 51 $158,153 $134,000 1,996 $79.23 69 50
Change -23.53% -1.28% 19.33% 2.15% -3.36% 4.35% -14%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
N 2008 56 $193,228 $182,179 1,900 $101.70 49 43
2007 61 $181,674 $170,000 1,856 $97.88 36 30
Change -8.20% 6.36% 7.16% 2.37% 3.90% 36.11% 43%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
NE 2008 44 $153,843 $154,250 1,742 $88.31 50 38
2007 58 $144,913 $148,250 1,679 $86.31 53 41
Change -24.14% 6.16% 4.05% 3.75% 2.32% -5.66% -7%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
NW 2008 85 $245,893 $194,000 2,253 $109.14 49 32
2007 80 $218,220 $189,750 2,164 $100.84 51 28
Change 6.25% 12.68% 2.24% 4.11% 8.23% -3.92% 14%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
PF 2008 192 $167,485 $159,950 2,049 $81.74 68 52
2007 208 $164,441 $152,084 2,076 $79.21 72 49
Change -7.69% 1.85% 5.17% -1.30% 3.19% -5.56% 6%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
RN 2008 41 $493,898 $378,353 3,142 $157.19 113 99
2007 81 $546,404 $430,000 3,512 $155.58 100 76
Change -49.38% -9.61% -12.01% -10.54% 1.03% 13.00% 30%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
RRE 2008 189 $189,418 $172,000 2,219 $85.36 69 56
2007 237 $178,927 $145,890 2,099 $85.24 63 47
Change -20.25% 5.86% 17.90% 5.72% 0.14% 9.52% 19%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
RRW 2008 149 $236,548 $219,000 2,566 $92.19 75 63
2007 183 $232,085 $219,000 2,504 $92.69 74 53
Change -18.58% 1.92% 0.00% 2.48% -0.54% 1.35% 19%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
SC 2008 31 $187,653 $157,500 2,272 $82.59 64 60
2007 23 $181,861 $145,000 2,210 $82.29 69 38
Change 34.78% 3.18% 8.62% 2.81% 0.37% -7.25% 58%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
SE 2008 27 $126,056 $128,810 1,833 $68.77 38 17
2007 18 $123,894 $123,863 1,805 $68.64 38 21
Change 50.00% 1.75% 3.99% 1.55% 0.19% 0.00% -19%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
SWE 2008 87 $216,250 $212,000 2,021 $107.00 63 53
2007 91 $219,297 $210,000 2,146 $102.19 51 36
Change -4.40% -1.39% 0.95% -5.82% 4.71% 23.53% 47%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
SWW 2008 77 $324,207 $292,464 2,564 $126.45 71 68
2007 78 $298,400 $279,975 2,543 $117.34 54 35
Change -1.28% 8.65% 4.46% 0.83% 7.76% 31.48% 94%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
UT 2008 5 $369,590 $329,000 1,539 $240.15 68 51
2007 6 $414,917 $405,000 1,870 $221.88 74 63
Change -16.67% -10.92% -18.77% -17.70% 8.23% -8.11% -19%
MLS Area Year # Sold Avg Sold Med Sold Avg SQFT Avg PSF Avg Days Med Days
W 2008 30 $575,294 $412,500 3,490 $164.84 93 84
2007 37 $524,161 $335,000 3,050 $171.86 65 45
Change -18.92% 9.76% 23.13% 14.43% -4.08% 43.08% 87%


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Posted by Steve
10 years ago
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Steve

Steve is a Real Estate Blogger, UT Austin Grad, Real Estate Broker and owner of Crossland Team and Crossland Real Estate in Austin TX.

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scott - 10 years ago

So Steve,

I live in 10S. I love the neighborhood and I am renovating the house. Am I ok? When I purchased it was $92.00/sq.ft. but I saw a depression in the sales. I bought here assuming that I throw 25K into a renovation I could hopefully move a little farther west. I won’t move for another 5 years given my home improvements.

Maybe I should just sit back and allow the markets to adjust. I have no problem making the payments and me employer loves me.

I have lived in Austin for over 30 years. I used to live in a condo in Battle Bend, which the local analysts are calling LoCo (I hate that name).

Please tell me I am not an idiot.

By the way, I appreciate the accuracy of your information, even knowing the new MLS system is screwing you folks.

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Scott - 10 years ago

Hey Steve,

Thanks for the great info. what’s your opinion about the SWE area for shorter term (next 1-2 yrs) appreciation? Seems like it has soften up a bit.

Thanks.

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