The current average sales price in Southwest Austin compared to last April YTD is down 2% to $224,799. The number of single-family home sales are down 25% compared to this time last year, and there is a 3.9 month supply of homes, which reflects a balanced market, favoring neither buyers or sellers. Active listings are up 12% compared to a year ago to 534 homes. The Southwest area is among the top 10 Austin MLS markets, and has been consistently strong for the last few years.
Mary "B" Battaglia GRI, CRS Austin Real Estate
For the first 4 months of 2009, the average sales price in South Austin compared to this time last year is down 8% to $137,687. Single-family home sales are off 28% compared to last April YTD. There are 8.4 months of inventory, which reflects a market favoring Buyers. Active listing inventory is up 2% to 177 units. This area is in the top 30 Austin MLS markets.
Mary "B" Battaglia GRI, CRS Austin Real Estate
The overall Austin market:
- Compared to this time last year, the number of single-family homes sold in the Austin area dropped by 32%. The average sales price for single family homes is down 1% to $237,876. The median price, however, is up 2% compared to this time last year to $185,000.
- The total number of single-family listings in the Austin MLS is down 9% since the first of the year to 9,056 units. This is still an oversupply, and is exerting downward pressure on prices 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 increased to 6.6 months which favors buyers. The average days on the market for single-family homes to sell has risen to 87 days.
In most areas in and around Austin, the market for homes priced under 225K is more active, as are the closer-in markets. The list-to-sell ratio is at 94.6%, which is up from December's 94.1% - the lowest in several years for Austin. Our current market represents a enticing opportunity for buyers with an oversupply of inventory here, coupled with historically low interest rates at or below 5%. While Austin is feeling the effects of the national economy, the metro area remains one of the most attractive areas in the U.S. for business, quality of life, employment, growth, etc. Austin was named in a recent YahooBusiness report as the #2 US city for people to move to. This strength has kept Austin real estate prices stable in comparison to most other metro areas in the U.S.
Mary "B" Battaglia "Your Best Link to Austin Real Estate"
The overall Austin market:
- Compared to this time last year, the number of single-family homes sold in the Austin area dropped by 32%. The average sales price for single family homes is down 1% to $237,876. The median price, however, is up 2% compared to this time last year to $185,000.
- The total number of single-family listings in the Austin MLS is down 9% since the first of the year to 9,056 units. This is still an oversupply, and is exerting downward pressure on prices 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 increased to 6.6 months which favors buyers. The average days on the market for single-family homes to sell has risen to 87 days.
In most areas in and around Austin, the market for homes priced under 225K is more active, as are the closer-in markets. The list-to-sell ratio is at 94.6%, which is up from December's 94.1% - the lowest in several years for Austin. Our current market represents a enticing opportunity for buyers with an oversupply of inventory here, coupled with historically low interest rates at or below 5%. While Austin is feeling the effects of the national economy, the metro area remains one of the most attractive areas in the U.S. for business, quality of life, employment, growth, etc. Austin was named in a recent YahooBusiness report as the #2 US city for people to move to. This strength has kept Austin real estate prices stable in comparison to most other metro areas in the U.S.
The Round Rock Real Estate Market: The average price of homes sold in the Round Rock area is down very slightly from a year ago to $209,915. Single-family home sales are down 44.7% when compared to this time last year. The months of inventory is steady at 4.8 months, which slightly favors buyers. Since last month the number of active listings is down to 851 units which is 10.2% fewer listings compared to this time last year.
Mary "B" Battaglia "Your Best Link to Austin Area Real Estate"
The overall Austin market:
- Compared to this time last year, the number of single-family homes sold in the Austin area dropped by 32%. The average sales price for single family homes is down 1% to $237,876. The median price, however, is up 2% compared to this time last year to $185,000.
- The total number of single-family listings in the Austin MLS is down 9% since the first of the year to 9,056 units. This is still an oversupply, and is exerting downward pressure on prices 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 increased to 6.6 months which favors buyers. The average days on the market for single-family homes to sell has risen to 87 days.
In most areas in and around Austin, the market for homes priced under 225K is more active, as are the closer-in markets. The list-to-sell ratio is at 94.6%, which is up from December's 94.1% - the lowest in several years for Austin. Our current market represents a enticing opportunity for buyers with an oversupply of inventory here, coupled with historically low interest rates at or below 5%. While Austin is feeling the effects of the national economy, the metro area remains one of the most attractive areas in the U.S. for business, quality of life, employment, growth, etc. Austin was named in a recent YahooBusiness report as the #2 US city for people to move to. This strength has kept Austin real estate prices stable in comparison to most other metro areas in the U.S.
The Cedar Park & Leander Real Estate Market: The average sales price in this area is up 1.8% from last year to $203,088. Single family home sales have decreased 30.5% for the year and the months of inventory is stable at 5.1 months, which favors buyers. The number of active listings is at 740, up 1% compared to year ago. This area is in the top 30 Austin area markets.
Mary "B" Battaglia "Your Best Link to Austin Area Real Estate"
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Over 20 years experience in Austin, Texas real estate as a top listing agent, buyer agent and corporate relocation specialist. I stress consistent communication & tenacious representation.
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