Austin Real Estate Report
Austin real estate gaining momentum heading into buying season
Austin Board of REALTORS® releases February 2009 real estate statistics
AUSTIN, Texas – Mar. 19, 2009
-- According to the February 2009 Multiple Listing Service report by the
Austin Board of REALTORS® (ABoR), the Austin real estate sales volume
remains down year-over-year, but home prices have risen compared to
The median price of single-family homes in Austin was $189,900, up five percent from February 2008. There were 1,116 single-family homes sold in February 2009, a 28 percent decrease as compared to one year ago. Collectively, sales in February 2009 contributed $271,048,500 to the local economy.
"These statistics demonstrate how Austin home prices have held steady and continue to appreciate, despite volatile credit markets and difficult conditions in other states," explained ABoR Chairman Jay Gohil. "Compared to last month, we’re seeing the year-over-year gap begin to close on sales volume and hope consumer confidence will continue to rise to further spur the Austin real estate market."
He added, "With unprecedented incentives available to homebuyers, such as an $8,000 first-time homebuyer tax credit and some of the lowest mortgage interest rates in history, we believe many Central Texans will recognize this spring as a great time to build wealth through Austin real estate."
February 2009 Statistics:
- $271,048,500 was the dollar volume of single-family properties sold
- $189,900 was the median price, a five percent increase from one year ago
- 1,116 was the number of homes sold, a 28 percent decrease as compared to February 2008
The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,000 licensed REALTORS® in Central Texas. For more, please contact Angela Brutsché at 512/454-7636, ext. 1300.