Oil prices are driving the real estate market in Austin.  Now with oil prices dropping there are two trends occuring that can not be ignored.  One is that inventory is slowing down for the 4th month straight and second, the decline of sales has been altered for the last 3 months straight.  We first thought this was a fluke, but it is evident that the worst is behind us.  Bear in mind that our market is substantially opposite of the east and west coasts and we have been under valued for about 7 years and are still under the national median. i.e. Austin is a great buy for the next 6 to 12 months.  Note that $200/sf will buy you an ultra high end home and less than $100 per foot is readily available.   Come on down.........