Real Estate Market Statistics for September 2009 – Austin, TX
I have put together graphs of market statistics for the month of September 2009. It may seem odd to post last month’s information; however, this information was recently released from the Texas A&M Real Estate Center. I segmented most of the information into geographical areas. You may or may not know that the Austin Board of Realtors divides the entire region it serves into 25 Multiple Listing Service (MLS) areas. I have simplified it into more general geo-areas. The downtown area, for instance, includes proper downtown Austin along with the area south of Town Lake to Ben White (78704 area code). These graphs are meant to give a general overview of the market statistics.
This graph above shows an overview of the total sales of September by property type. It should be noted that leases and commercial leases are exactly that – leases. It is important to include rentals in the market statistics because rental occupancy and rates are as high as they have been in decades. I’m sure most current residential investors are reaping the benefits of the these rental rates. Another nugget to keep in mind is the commercial sales/lease market statistics is not 100% accurate. This is because many commercial transactions are not listed in the MLS. Overall, I find this info interesting, so I wanted to include it in the stats.
These market statistics above show a three overview of the 3rd quarter from 2007-2009. I included this because the end of the third quarter of 2007 is when the initial shift occurred in the market. You can also see the yearly slowdown in transactions toward the end of the summer going into the fall. However, September 2009 saw an increase in sales compared with August 2009 and September 2008. The $8000 first-time home buyer tax credit played a significant role in this sales increases. I think we will see the same results for October and November 2009.
Below are graphs for the Austin City and Great Austin area market statistics. I divided them into separate graphs for two reasons: 1) the graph would have been way to big to post and 2) I like it better this way. As I mentioned earlier, the regions are broken down by geographical area. Some areas could be grouped in multiple regions. It is important to keep this in mind, especially when looking at the active listings. While it may appear that the number is active listings is high, the market as a whole is closely balanced. We actually saw a decrease in the number of active listings in September this year than in the same month a year ago. With the tax credit combined with the usual end of the year activity, we could very well see a strong ending to 2009.
I would greatly appreciate your comments or feedback. If you would like more specific market statistics for a neighborhood, subdivisions, etc., I would be happy to provide them. Please feel free to contact me directly at the email below:
Will@localaustinrealestate.com
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