The Austin Board of Realtors just released its August statistics -- compiling data on all property types in Travis and Williamson Counties. Looking at the numbers (see attachment below for complete info) we have a mixed bag right now. If you're a buyer looking for a home in the $250,000 and under range -- it's still a sellers market. We're still under 6 months of inventory for those properties.
When you look at the statistics for properties priced above $500,000 you will find that it's a buyers' market -- running between 11 and 27 months of inventory. Looking at homes in the Austin MLS priced between $250,000 and $500,000 you find a healthy market -- not slanted either way.
It's also worth noting that looking year over year, we continue to appreciate -- however, we're not seeing massive amounts. Looking at August 2008 compared to August 2007, we see a modest .84% gain (when you run the average across the board).
Keep in mind -- some areas are hotter than others -- and this factors into how much a home will fetch in today's market. Have a question? Drop me an email and I'll do a CMA for you.
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