The Austin real estate market ended 2009 on an up note, with both average and median sold prices up more than 5% over Dec 2008. Oh, but wait … December 2008 was a dismal month because we all still thought the financial world was falling off a cliff. But the stats are what they are so let’s have a look.
Number of homes sold is down 4.39% from a year ago, which is a small decrease compared to the numbers we were seeing earlier this year. Average list price is up 3.71% to $276,387, Median List Price is up 5.22% to $199,900, Average sold price is up 5.15%, Median sold is up 5.39%, the Sold/List % is up 1.39% to 95.54%. And Average Price per Square Foot of sold homes is also up, by 1.11%, to $115.36.
Average Days on Market was up about 4% to 82 days, but Median Days on Market was down 14% to 48 days. The number of Not Sold was down also, though at 56% still a big number, but that’s normal for December when lots of sellers give up for the holidays.
Here is the chart showing Nov/Dec 2009 and Dec 2008 sales stats.
Austin Real Estate Sales Market Update December 2009 Sales | ||||
Homes only (condos, duplexes, etc. not included) compiled from Austin MLS data | ||||
Nov 2009 | Dec 2009 | Dec 2008 | Yr % Change | |
# Sold | 1515 | 1219 | 1275 | -4.39% |
Avg List | $252,963 | $276,387 | $266,498 | 3.71% |
Med List | $185,000 | $199,900 | $189,990 | 5.22% |
Avg Sold | $242,349 | $264,061 | $251,128 | 5.15% |
Med Sold | $180,000 | $194,858 | $184,900 | 5.39% |
Sold/List % | 95.80% | 95.54% | 94.23% | 1.39% |
Avg SQFT | 2113 | 2289 | 2201 | 4.00% |
Med SQFT | 1896 | 2050 | 1981 | 3.48% |
Avg $ SQFT | $114.69 | $115.36 | $114.10 | 1.11% |
Avg DOM | 73 | 82 | 79 | 3.80% |
Median DOM | 44 | 48 | 56 | -14.29% |
# Expired | 474 | 854 | 866 | -1.39% |
# Withdrawn | 832 | 699 | 851 | -17.86% |
Not Sold | 1306 | 1553 | 1717 | -9.55% |
Not Sold % | 46.30% | 56.02% | 57.39% | -2.37% |
So, that’s a bunch of numbers, but what does it all mean? Is the Austin real estate market rebounding from the slight decline of 2009? I think it is. 2010 will be better than 2009 for sellers. Buyers will still find plenty of good opportunities though.