Austin real estate holds steady into summer buying season

Austin Board of REALTORS® releases April 2009 real estate statistics

May 20, 2009 - According to the latest Multiple Listing Service report by the Austin Board of REALTORS®, the volume of single-family home sales in April 2009 was 1,601, down 18 percent from April 2008, and the median price was $189,000, up one percent over the same time period.

Jay Gohil, Chairman of the Austin Board of REALTORS®, explained, "Since the beginning of the year, sales have grown. While we are still down compared to last year, with each month the gap in sales volume from 2008 to 2009 is closing. This sales momentum, coupled with a steady stream of new listings on the market, puts Central Texas in a good position for summer's real estate season."

Chairman Gohil also explained why taking a closer look at April 2009 sales volume could be good news for both buyers and sellers: "Right now we have a very healthy supply of housing inventory, which is perhaps the most reliable indicator of future home price trends in Central Texas. The ‘months of inventory' in a market is determined by dividing the number of homes for sale by the average sales over the past 12 months."

Economists at the Real Estate Center at Texas A&M University predict that about 6.5 months of inventory is a balanced market, where homes are being sold and prices continue to increase at a moderate pace. In April 2009, the Central Texas market held 6.4 months of single family housing inventory, where the national average is 10 months.

April 2009 Statistics:

• $372,077,203 was the dollar volume of single-family properties sold
  
• $189,000 was the median price, a one percent increase from April 2008
  
• 1,601 was the number of homes sold, an 18 percent decrease compared to April 2008

Terrific value!  Call to schedule an appointment and view virtual tour at www.3709Lagoona.info

Central Texas voters can find superb information on one site...  http://impactnews.com/vote09 Complete with candidate information, voter links and details on the council members -this is a terrific site for the consumer and property owner to get educated!

I just wanted to share with you all a website that Community Impact News has put together.  It has some great resources for the voters including where to go to vote, when, mayoral candidates, city council candidates, etc.  They cover areas such as Austin, Georgetown, Round Rock, Cedar Park, Leander,Pflugerville, Hutto, and Taylor.  FINALLY  a website that you can really use to do your local election research!!!  Thank you Community Impact!!!

Some of the links provided for city council members in the various cities, also include the candidates personal website -if available. Perhaps taking a page from the successful social media campaign used for President Obama.  Sort of a "get to know" candidate x and what he/she will bring to the table if elected.

I hope everyone will take the time to vote at their local levels -it starts here at home!! Now get out and vote in your Mayoral and City Council races!!

Source: Impact News

Source: Austin Board of Realtors

According to the March 2009 Multiple Listing Service report by the Austin Board of REALTORS®, the volume of single-family home sales in March 2009 was 1,421, down 22 percent from March 2008, and the median price was $180,160, down 4 percent over the same time period.

 

Jay Gohil, Chairman of the Austin Board of REALTORS®, provided some insight, “Sales volumes in March are still down compared to a year ago, but we’re beginning to see the gap in volume close.”
 

For example, in January 2009, sales volume was down 36 percent compared to January 2008. In February 2009, sales volume was down 28 percent compared to February 2008. In March 2009, the 22 percent decrease in volume compared to March 2008 shows the Austin real estate market is gaining momentum.
 

Chairman Gohil continued, “Looking at the first quarter of 2009, we’re seeing sales volumes improve and home values remain steady – that’s good news for Austin homeowners. Those factors, combined with Austin’s strong economic fundamentals, bode well for our market heading toward the summer buying season.”
 

One of the most important economic fundamentals driving the real estate market is job growth, for which Austin was fortunate in 2008. Looking ahead, a recent study based on data from the U.S. Bureau of Labor Statistics cited Austin among the top 10 metropolitan areas in the country with the highest potential for job growth in 2009.
 

March 2009 Statistics

• $328,098,953 was the total dollar volume of single-family properties sold
• $180,160 was the median price, a four percent decrease from one year ago
• 1,421 was the number of homes sold, a 22 percent decrease compared to March 2008

Source: Austin Board of Realtors, Actris MLS -All information deemed reliable and accurate but not gauranteed.

For statistical data in your neighborhood contact me at www.CentralTexasAgent.com

During the months of April and May, members of the local community can bring certain new or recycled materials to the Austin Children's Museum, 201 Colorado St., and get a free pass into the museum.

Bring 20 plastic bottle caps, or 20 plastic round lids (from yogurt, cottage cheese, sour cream cups, etc.), or 2 yards of fabric at least 8 inches wide. The free pass can then be used immediately or saved for another visit. There is a limit of two per family and is not valid on school tours.

The promotion will help the Austin Children's Museum gather materials to build the summer feature exhibit, MakerKids, an exhibit "sure to inspire the do-it-yourself spirit in everyone from the littlest to biggest makers," according to the museum. The event will feature more than 20 guided activities in fiber arts, printmaking, sculpture, light play, paper play, cardboard creations and more. The exhibit opens June 6.

For more information visit www.austinkids.org or call 512-472-2499.

 March 19, 2009 -According to the February 2009 Multiple Listing Service report by the Austin Board of REALTORS® (ABoR), the Austin-area home sales volume remains down year-over-year, but home prices have risen compared to February 2008.

The median price of a single-family home in Central Texas was $189,900, up five percent from February 2008. There were 1,116 single-family homes sold in February 2009, a 28 percent decrease as compared to one year ago. Collectively, sales in February 2009 contributed $271,048,500 to the local economy.

"These statistics demonstrate how Austin-area home prices have held steady and continue to appreciate, despite volatile credit markets and difficult conditions in other states," explained ABoR Chairman Jay Gohil. "Compared to last month, we're seeing the year-over-year gap begin to close on sales volume and hope consumer confidence will continue to rise to further spur the market."

He added, "With unprecedented incentives available to home buyers, such as an $8,000 first-time home buyer tax credit and some of the lowest mortgage interest rates in history, we believe many Central Texans will recognize this spring as a great time to build wealth through Austin real estate."

February 2009 - Single Family Homes

• $271,048,500 was the total dollar volume of homes sold  

   

• $189,900 was the median price, a five percent increase from February 2008  

   

• 1,116  was the number of homes sold, a 28 percent decrease from one year ago

Source: Austin Board of Realtors -information deemed reliable and accurate but not guaranteed.

The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,000 licensed REALTORS® in Central Texas.  For more, please contact Angela Brutsché at 512/454-7636, ext. 1300.

Austin area real estate volume down, prices remain stable

Austin Board of REALTORS® releases December 2008 real estate statistics

January 20, 2009 - According to the December 2008 Multiple Listing Service report by the Austin Board of REALTORS® (ABoR), the volume of single-family home sales was down last month 21 percent compared to December 2007. However, prices in Central Texas remain stable, with the median price down by only four percent compared to December 2007, underscoring the long-term strength of Austin's real estate market.

According to ABoR Chairman Jay Gohil, "Austin is feeling the effects of the economic downturn in our sales volume, but our price stability shows the long-term health of our market."

He continued, "In Austin, we never saw the dramatic price run-ups like other parts of the country. Now, our homes are retaining their value, even in the midst of market fluctuations. Combine that fact with projections that Austin's population will continue to grow and our economy will continue adding jobs in 2009 and it becomes clear Austin is a good place to invest in real estate."

Year-end real estate totals for 2008 mirrored similar trends. The median price for 2008 was $189,500, a 2 percent increase from 2007, and the volume of single family homes sales was down 20 percent to 20,199.

Chairman Gohil summarized the results this way, "These real estate statistics are important to understand the Austin market at large. However, they don't reveal whether this is a good time to buy or sell for you. The best way to do that is to talk to your Austin REALTOR® and get the facts about your personal situation and make the decision that's right for you."

December 2008 - Single Family Homes

• 1,299 was the number of homes sold, a 21 percent decrease as compared to December 2007

   

• $182,000 was the median price, a 4 percent decrease from December 2007

   

• $320,542,539 was the total dollar volume of properties sold, a 22 percent decrease from December 2007

2008 Year-End Totals

• $5,004,647,938 was the total dollar volume of single-family properties sold, a 21 percent decrease from 2007

   

• $189,500 was the median price, a 2 percent increase from 2007

   

• 20,199 single-family homes were sold, a 20 percent decrease from 2007

Source :The Austin Board of REALTORS® -all information is deemed reliable and accurate but not gauranteed. 

Here are some of the latest stats as provided by Williamson County Association of Realtors Mark Burton and Austin Board of Realtors MLS -all information is believed to be accurate but not gauranteed.