Real Estate Market Snapshot for N Central Austin and 78757 Zip Code

Real Estate Market Snapshot for N Central Austin and 78757 Zip Code

Another year behind us in the Austin Real Estate Market, and one with mixed reviews from our local publications. This year's ‘X' Factor was the end of Federal Tax credits not just for first time buyers, but existing homeowners who had lived in their primary residence for a number of years and elected to ‘move up'.

There is no doubt the April deadline enticed buyers to close on a home earlier in the year, instead of waiting till the customary busy Summer months in real estate. This front loaded many of the 2010 sales in the first 6 months, making the remaining half of the year look dismal or flat at best. We are waiting on final numbers, but it appears the difference in 2009 / 2010 YTD total # of homes sold will be a minimal.

The 2 charts below show North Central Austin has not incurred much fluctuation when looking at the bigger picture. Too often our local publications focus on a small time period, ie one month, and that can show a large decrease or increase. Keep the big picture in mind!