Austin Real Estate Market Report - November 2009 YTD

Real Estate Agent with Coldwell Banker United (referrals welcome!)

The overall Austin market:

-           Compared to last November, the number of single-family homes sold in the Austin area is 7% less.  The average sales price for single family homes is down 3% to $241,422.  The median price, however, is at $188,000 which is 1% less when compared to this time last year.

 -          The total number of single-family listings in the Austin MLS is 5% less than this time last year at 9449 units.  Still, prices are being pushed down - which is a positive for buyers.

-           If you average the number of sales for the last 12 months and divide that figure into the number of current active listings, the result is the number of Months of Inventory (MOI).  In a balanced market, the MOI is between 3.5 and 4.5 months.  Currently, the MOI in the Austin market has decreased to 6 months which favors buyers.  The average days on the market for single-family homes to sell has dropped 15% to 78 days.

Mary "B" Battaglia CRS, GRI     Austin Real Estate

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