Austin Real Estate Report
Austin-area real estate market shows improvement over last year
Austin Board of REALTORS® releases September 2009 real estate statistics
AUSTIN, Texas – Oct. 19, 2009 - According to the
September 2009 Multiple Listing Service report by the Austin Board of
REALTORS®, activity in the Austin-area real estate market has shown
signs of improvement from September 2008.
In September 2009, 1,780 homes were sold, a six percent increase from 1,673 homes sold in September 2008. The median home price for Austin in September 2009 was $185,250, up two percent from the same month the prior year.
"This spur in activity compared to last year is a good sign," said Jay Gohil, chairman of the Austin Board of REALTORS®. "It shows the Austin-area real estate market is healthy and has remained stable."
According to the report, the average median home price in the third quarter of 2009 is statistically similar to that of the third quarter of 2008. In addition, the third quarter of 2009 represented the highest quarterly average for home sales this year. There was an average of 1,857 homes sold during the third quarter of 2009, a 3 percent decrease compared to the third quarter of 2008 which averaged approximately 1,912 homes sold.
Gohil continued, "As the deadline for the first-time homebuyer tax credit approaches on Nov. 30, we may continue to see increases in home sales into October and November." On Nov. 30, the tax credit for first-time homebuyers of up to $8,000 expires. To qualify, first-time homebuyers must close their real estate transaction by that date, a process that requires anywhere from 14 to 60 days or more. For more, visit www.AustinHomeSearch.com.
September 2009 Statistics:
- $431,530,740 - Total dollar volume of single-family properties sold, a seven percent increase from September 2008.
- $185,250 – Median price for single-family homes, a two percent increase from September 2008.
- 9,148 – Active single-family home listings on the market, a ten percent decrease from September 2008.
- 1,780 – Single-family homes sold, a six percent increase from September 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.