Below is the breakdown of year-to-date home sales in Austin by MLS area. This is for houses only, no condos, townhomes, etc. I’m often asked, “how is the Austin real estate market?”, to which I reply, it depends on which market you are talking about. There are multiple “markets” and sub-markets in Austin. Here are some summary points I gleaned from the stats.
* Of the 42 Austin MLS areas tracked below, all but 1 have fewer sales Jan-Jun 2008 compared to 2007. The only area with more sales than the same 6-month period last year was the UT area with 26 sales YTD this year compared to 24 last year.
* 28 of the 42 Austin MLS areas have higher average sales prices for 2008 than the same period last year. That’s 2/3 of Austin’s MLS areas experiencing price increases for average sales price.
* The same number (28) of Austin MLS areas have increases in Median Sold prices compared to a year ago.
* 24 MLS areas saw an increase in both average and median sold prices.
* 27 of the 42 Austin MLS areas saw an increase in average price per square foot on homes sold.
* Of the 24 MLS areas that saw an increase in both average sold and median sold prices, 21 of those areas also showed an increase in the average sold price per square foot. This means half of all Austin MLS areas have experienced price increases in all three of the main metrics that indicate price appreciation. These areas generally tend to congregate around Central Austin. 14 of these areas are within a 20 minute drive of downtwon. 7 are east of IH35.
* 7 of the Austin areas saw a decrease in all three metrics of avg, median and psf sales prices. Those areas were 8W (Eanes West), EL (Elgin), LN (Lake North), LS (Lake South), MA (Manor), SC (Far SE Austin) and W (West Austin). It’s interesting that, with the exception of area LN, all of the areas with triple drops are either way above or way below the Austin average and median sales prices. This jives with what we know, that both the upper and lower ends of the market are slow.
* 7 of the 42 MLS area saw a decrease in the Days on Market, meaning homes are selling faster in those areas than a year ago. Most areas saw an increase in days on market, indicating slower sales.
Check the chart below to see how your particular area is doing. As usual, questions and comments are welcome.
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
All Areas | 2008 | 10496 | $253,044 | $192,472 | 2,131 | $118.74 | 65 |
2007 | 12941 | $252,189 | $189,000 | 2,116 | $119.18 | 56 | |
Change | -18.96% | 0.34% | 4.04% | 0.71% | -0.36% | 16.07% | |
MLS Area | YTD-Apr | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
1A | 2008 | 109 | $469,000 | $475,000 | 2,700 | $173.70 | 58 |
2007 | 144 | $482,394 | $452,500 | 2,670 | $180.67 | 49 | |
Change | -24.31% | -2.78% | 4.97% | 1.12% | -3.86% | 18% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
1B | 2008 | 133 | $709,442 | $550,500 | 2,385 | $297.46 | 46 |
2007 | 184 | $709,311 | $590,500 | 2,614 | $271.35 | 59 | |
Change | -27.72% | 0.02% | -6.77% | -8.76% | 9.62% | -22% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
1N | 2008 | 228 | $284,387 | $255,000 | 2,075 | $137.05 | 40 |
2007 | 314 | $299,551 | $269,000 | 2,202 | $136.04 | 34 | |
Change | -27.39% | -5.06% | -5.20% | -5.77% | 0.75% | 18% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
2 | 2008 | 172 | $265,959 | $256,500 | 1,443 | $184.31 | 55 |
2007 | 225 | $249,000 | $240,000 | 1,392 | $178.88 | 30 | |
Change | -23.56% | 6.81% | 6.88% | 3.66% | 3.04% | 83.33% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
2N | 2008 | 152 | $151,131 | $146,000 | 1,515 | $99.76 | 50 |
2007 | 160 | $142,164 | $139,700 | 1,497 | $94.97 | 33 | |
Change | -5.00% | 6.31% | 4.51% | 1.20% | 5.04% | 51.52% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
3 | 2008 | 153 | $219,262 | $203,300 | 1,481 | $148.05 | 62 |
2007 | 168 | $195,948 | $195,000 | 1,485 | $131.95 | 42 | |
Change | -8.93% | 11.90% | 4.26% | -0.27% | 12.20% | 47.62% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
3E | 2008 | 81 | $161,412 | $152,500 | 1,626 | $99.27 | 74 |
2007 | 125 | $118,481 | $117,000 | 1,429 | $82.91 | 74 | |
Change | -35.20% | 36.23% | 30.34% | 13.79% | 19.73% | 0.00% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
4 | 2008 | 160 | $364,465 | $341,500 | 1,541 | $236.51 | 57 |
2007 | 195 | $350,598 | $322,500 | 1,555 | $225.46 | 48 | |
Change | -17.95% | 3.96% | 5.89% | -0.90% | 4.90% | 18.75% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
5 | 2008 | 143 | $190,054 | $172,000 | 1,236 | $153.77 | 71 |
2007 | 215 | $174,169 | $156,000 | 1,159 | $150.28 | 50 | |
Change | -33.49% | 9.12% | 10.26% | 6.64% | 2.32% | 42.00% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
5E | 2008 | 42 | $113,270 | $109,000 | 1,668 | $67.91 | 48 |
2007 | 48 | $108,323 | $109,450 | 1,499 | $72.26 | 64 | |
Change | -12.50% | 4.57% | -0.41% | 11.27% | -6.03% | -25.00% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
6 | 2008 | 90 | $380,453 | $363,750 | 1,517 | $250.79 | 61 |
2007 | 163 | $348,915 | $315,000 | 1,505 | $231.84 | 43 | |
Change | -44.79% | 9.04% | 15.48% | 0.80% | 8.18% | 41.86% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
7 | 2008 | 64 | $428,637 | $369,750 | 1,768 | $242.44 | 54 |
2007 | 74 | $378,115 | $372,500 | 1,596 | $236.91 | 37 | |
Change | -13.51% | 13.36% | -0.74% | 10.78% | 2.33% | 45.95% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
8E | 2008 | 99 | $881,417 | $690,000 | 3,270 | $269.55 | 68 |
2007 | 139 | $952,716 | $759,000 | 3,656 | $260.59 | 65 | |
Change | -28.78% | -7.48% | -9.09% | -10.56% | 3.44% | 4.62% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
8W | 2008 | 118 | $579,957 | $472,400 | 3,056 | $189.78 | 75 |
2007 | 146 | $649,866 | $522,500 | 3,416 | $190.24 | 66 | |
Change | -19.18% | -10.76% | -9.59% | -10.54% | -0.24% | 13.64% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
9 | 2008 | 23 | $196,079 | $175,000 | 1,664 | $117.84 | 55 |
2007 | 48 | $164,015 | $154,008 | 1,545 | $106.16 | 39 | |
Change | -52.08% | 19.55% | 13.63% | 7.70% | 11.00% | 41.03% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
10N | 2008 | 139 | $193,771 | $173,500 | 1,438 | $134.75 | 42 |
2007 | 147 | $181,473 | $162,100 | 1,429 | $126.99 | 24 | |
Change | -5.44% | 6.78% | 7.03% | 0.63% | 6.11% | 75.00% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
10S | 2008 | 330 | $178,878 | $173,450 | 1,631 | $109.67 | 41 |
2007 | 413 | $170,785 | $164,000 | 1,646 | $103.76 | 24 | |
Change | -20.10% | 4.74% | 5.76% | -0.91% | 5.70% | 70.83% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
11 | 2008 | 99 | $122,477 | $117,800 | 1,445 | $84.76 | 54 |
2007 | 171 | $120,630 | $115,500 | 1,433 | $84.18 | 50 | |
Change | -42.11% | 1.53% | 1.99% | 0.84% | 0.69% | 8.00% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
CLN | 2008 | 552 | $178,421 | $156,000 | 2,028 | $87.98 | 55 |
2007 | 662 | $162,726 | $146,950 | 1,937 | $84.01 | 52 | |
Change | -16.62% | 9.65% | 6.16% | 4.70% | 4.73% | 5.77% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
CLS | 2008 | 522 | $244,064 | $217,250 | 2,399 | $101.74 | 66 |
2007 | 609 | $229,289 | $205,000 | 2,357 | $97.28 | 56 | |
Change | -14.29% | 6.44% | 5.98% | 1.78% | 4.58% | 17.86% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
EL | 2008 | 142 | $123,290 | $120,545 | 1,771 | $69.62 | 71 |
2007 | 157 | $130,541 | $124,000 | 1,751 | $74.55 | 72 | |
Change | -9.55% | -5.55% | -2.79% | 1.14% | -6.62% | -1.39% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
GTE | 2008 | 158 | $167,315 | $156,256 | 1,842 | $90.83 | 71 |
2007 | 216 | $149,698 | $135,350 | 1,718 | $87.14 | 50 | |
Change | -26.85% | 11.77% | 15.45% | 7.22% | 4.24% | 42.00% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
GTW | 2008 | 375 | $247,543 | $220,000 | 2,219 | $111.56 | 88 |
2007 | 443 | $254,219 | $218,000 | 2,245 | $113.24 | 69 | |
Change | -15.35% | -2.63% | 0.92% | -1.16% | -1.49% | 27.54% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
HD | 2008 | 210 | $368,920 | $357,745 | 2,921 | $126.30 | 106 |
2007 | 224 | $426,019 | $343,689 | 2,897 | $147.06 | 88 | |
Change | -6.25% | -13.40% | 4.09% | 0.83% | -14.11% | 20.45% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
HH | 2008 | 488 | $178,108 | $155,975 | 2,067 | $86.17 | 65 |
2007 | 576 | $170,233 | $152,900 | 2,005 | $84.90 | 66 | |
Change | -15.28% | 4.63% | 2.01% | 3.09% | 1.49% | -1.52% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
HU | 2008 | 248 | $155,643 | $144,793 | 2,032 | $76.60 | 61 |
2007 | 366 | $147,217 | $137,618 | 1,855 | $79.36 | 70 | |
Change | -32.24% | 5.72% | 5.21% | 9.54% | -3.49% | -12.86% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
LN | 2008 | 96 | $271,379 | $199,450 | 2,019 | $134.41 | 80 |
2007 | 125 | $319,663 | $205,000 | 2,181 | $146.57 | 82 | |
Change | -23.20% | -15.10% | -2.71% | -7.43% | -8.29% | -2.44% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
LS | 2008 | 367 | $264,276 | $350,000 | 2,799 | $94.42 | 105 |
2007 | 440 | $444,829 | $369,000 | 2,696 | $165.00 | 82 | |
Change | -16.59% | -40.59% | -5.15% | 3.82% | -42.78% | 28.05% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
MA | 2008 | 145 | $149,792 | $133,000 | 1,966 | $76.19 | 75 |
2007 | 187 | $154,609 | $134,000 | 1,877 | $82.37 | 71 | |
Change | -22.46% | -3.12% | -0.75% | 4.74% | -7.50% | 5.63% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
N | 2008 | 194 | $190,760 | $185,000 | 1,844 | $103.45 | 35 |
2007 | 274 | $187,873 | $180,000 | 1,913 | $98.21 | 27 | |
Change | -29.20% | 1.54% | 2.78% | -3.61% | 5.34% | 29.63% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
NE | 2008 | 159 | $155,116 | $155,000 | 1,829 | $84.81 | 54 |
2007 | 195 | $151,929 | $153,470 | 1,749 | $86.87 | 51 | |
Change | -18.46% | 2.10% | 1.00% | 4.57% | -2.37% | 5.88% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
NW | 2008 | 290 | $258,102 | $211,950 | 2,269 | $113.75 | 38 |
2007 | 404 | $245,965 | $200,000 | 2,280 | $107.88 | 31 | |
Change | -28.22% | 4.93% | 5.98% | -0.48% | 5.44% | 22.58% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
PF | 2008 | 662 | $168,537 | $159,650 | 2,043 | $82.49 | 62 |
2007 | 745 | $164,442 | $155,000 | 2,069 | $79.48 | 57 | |
Change | -11.14% | 2.49% | 3.00% | -1.26% | 3.79% | 8.77% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
RN | 2008 | 225 | $521,624 | $403,435 | 3,270 | $159.52 | 98 |
2007 | 321 | $529,930 | $459,000 | 3,452 | $153.51 | 80 | |
Change | -29.91% | -1.57% | -12.11% | -5.27% | 3.91% | 22.50% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
RRE | 2008 | 697 | $188,250 | $164,739 | 2,206 | $85.34 | 63 |
2007 | 870 | $178,945 | $153,000 | 2,094 | $85.46 | 56 | |
Change | -19.89% | 5.20% | 7.67% | 5.35% | -0.14% | 12.50% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
RRW | 2008 | 610 | $239,453 | $223,398 | 2,528 | $94.72 | 67 |
2007 | 760 | $237,490 | $220,000 | 2,493 | $95.26 | 53 | |
Change | -19.74% | 0.83% | 1.54% | 1.40% | -0.57% | 26.42% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
SC | 2008 | 93 | $178,377 | $156,440 | 2,099 | $84.98 | 50 |
2007 | 103 | $199,587 | $182,765 | 2,239 | $89.14 | 61 | |
Change | -9.71% | -10.63% | -14.40% | -6.25% | -4.67% | -18.03% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
SE | 2008 | 87 | $127,162 | $129,990 | 1,796 | $70.80 | 51 |
2007 | 109 | $121,710 | $119,280 | 1,740 | $69.95 | 43 | |
Change | -20.18% | 4.48% | 8.98% | 3.22% | 1.22% | 18.60% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
SWE | 2008 | 348 | $228,682 | $215,000 | 2,097 | $109.05 | 52 |
2007 | 354 | $229,278 | $210,465 | 2,138 | $107.24 | 41 | |
Change | -1.69% | -0.26% | 2.15% | -1.92% | 1.69% | 26.83% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
SWW | 2008 | 317 | $309,849 | $285,000 | 2,509 | $123.50 | 53 |
2007 | 388 | $298,203 | $280,000 | 2,485 | $120.00 | 33 | |
Change | -18.30% | 3.91% | 1.79% | 0.97% | 2.91% | 60.61% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
UT | 2008 | 26 | $468,383 | $408,500 | 1,812 | $258.49 | 63 |
2007 | 24 | $443,621 | $416,500 | 1,920 | $231.05 | 57 | |
Change | 8.33% | 5.58% | -1.92% | -5.63% | 11.87% | 10.53% | |
MLS Area | Year | # Sold | Avg Sold | Med Sold | Avg SQFT | Avg PSF | Avg Days |
W | 2008 | 133 | $453,826 | $346,500 | 2,877 | $157.74 | 67 |
2007 | 169 | $584,934 | $349,000 | 3,100 | $188.69 | 64 | |
Change | -21.30% | -22.41% | -0.72% | -7.19% | -16.40% | 4.69% | |
In Lakeway, Avg price per sqft decreased by about 42%. But the median price dropped 5% only. How come?
Hi Tim,
Median values are less volatlie than average values, so they will swing much less than average values. For 2007, there were most likely one or more very high value sales that moved the average sales price upward while not having the same affect on the median values. This year, there is fewer high value sales, and that moves the average more than the median change.
Steve
Hi Steve,
I find if difficult to lump all of Austin into a single market and assumme there was no boom during the past 2 or 3 years. There are areas of the city such as Tarrytown, Hyde Park or Bouldin were the prices skyrocketed. I found a very interesting analysis in another website, and I would really like to know what you think about it.
Thanks,
“While the broad Austin market experienced only modest growth over the last five years, prices in central Austin have soared. Between early 2005 and late 2007- just a little over two years — prices for single family homes increased by 41% in Area 4 (Hyde Park), 43% in Area 2 (Allandale & north central Austin), 55% in Bouldin (near Zilker Park), and an incomprehensible 2-year gain of 83% in Area 3 which covers East Austin close to downtown. During this short period the typical central East Austin house increased in value from a median price of $168K to more than $255K. In Bouldin, price per square foot for the median house peaked at more than $300 / square foot in the second half of 2007.”
I’d be curious about the DT area and the stats for the condos resales. I saw a listing in the Austin City Lofts advertised as a “pre foreclosure”. Geeezz, I though DT was hot, hot , hot!
Dig the blog, thanks Steve!
I know in my area of town (NW), my house has seen about 23% appreciation since I bought in 2005. That’s about 7.5% per year. Historically, Texas is <3% appreciation; with 1970s through mid 1990s I believe having only ~$1k/yr appreciation for median homes arround $80-100k. Of course, these are averages, and during the S&L boom, appreciation was double-digit %’s, which turned to double-digit % drops when that bubble burst.
2007 Median Sold should be $185,000. I think you accidentally put 2007 Median List in its place ($189,000). Percent difference is right.
As someone looking to move to Austin from New York City next June, I enjoy your blog as a way to keep up with the market down there. Thanks.
Yada,yada,yada –
Thanks for the statistics, they can be helpfull if someone knows how to interpret them properly. These are all gross averages an bear little relevance to an individual property in a given area. They should only be used to note trends, etc. Bottom line, a little knowlege is dangerous. Prospective buyers/sellers, find or become an expert in order to sort through the details or you can get burned in any market..
Good luck
Hi Rodney,
> Yada,yada,yada…hese are all gross averages an bear little relevance to an individual property in a given area.
I think most readers clearly understand that. Trends and market direction are important though and do affect the pricing decisions for individual homes.
Steve