Texas 2010 Home Sales are Really have not changed from 2009

By
Real Estate Agent with Keller Williams Realty

Recently the entire homes sales data was gathered to determine where Texas and individual cities compare to the prior year.  Well the news for Texas is not all that bad.  The Texas Real Estate Center at Texas A&M University reports that over 21,717 resale homes were sold in Texas this past June, 2010.  The data was complied from the MLS system. 

The interesting fact is the months of inventory for homes in Texas is unchanged from the prior year and the median sale price is down slightly 1% to $153,300.  Dallas is up 2%, Austin is up 4%, where as San Antonio, Ft. Worth, and Houston are all down.  The average Months of Inventory for existing homes in Texas is 7.8, clearly a buyers market. 

Below are a few Texas cities from data gathered by the Texas Real Estate Center which is current as of July 26, 2010) "Additional home sales data for these and other major Texas cities are available on the Center's website":

  Sales

Change from
Last Year

Median
Price
Change from
Last Year
Months'
Inventory
Austin 2,216 down 2% $202,800 up 4% 7.2
Brownsville 50 down 14% $96,000 up 11% na
Dallas 4,554 down 3% $170,100 up 2% 6.8
El Paso 736 up 53% $132,600 down 1%  6.8
Fort Worth 833 up 5% $111,800 down 6% 6.9
Houston 6,175 up 3% $158,100 down 3% 7.5
Kerrville 30 down 35% $151,400 down 13% 22.8
Lufkin 56 up 2% $120,000 up 9% na
Odessa 131 up 87% $125,300 down 6%  7.9
San Antonio 1,924 down 1% $151,700 down 3%  8.2
Texas 21,717 0% $153,300 down 1% 7.8

Buying a home in Texas is ideal with low interest rates and enough inventory on the market that should satisfy the pickiest buyer.  Prices in the Austin area have dropped a bit and the good homes are selling.  The market still has some significant dead inventory on the market.  Regardless if you are thinking of buying a home this year or next, now is the time to get out and shop.

 

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