Here are the latest stats from Alamo Title Co.:

The number of active listings are up 22.80% over last year.

The number of new listings are down this week 5.49% (compared to the same week last year).  Pendings and solds are also down.

How are we doing on sales prices?  To get the full picture, check out the our web site for latest sold data.
 

June 1 - June 7, 2008

(compared to the same week in 2007)

New listings down this week 5.49%

Pendings down 76.37%

Solds down 13.18%

 

As for Average Prices: June 1 - June 8, 2008

(compared to the same week in 2007)

The "New Listings" average list price decreased 0.32% to $320,436.  In 2007 the new listing average list price was $321,457.

Sold average sales prices increased 1.72% to $260,910.  In 2007 it was $256,498 for the same week. 

 

Check it out at
 

May 2008

Units for Sale: (compared to May 2007)

New listings were up 26.29%.
Pendings were down 67.48%.
Solds decreased by 27.78%.

 

As for Average Prices:

The "New Listings" average list price is down 6.91% to 314,069.  In May 2007 the average list price was $337,378. 
Sam's comments - buyers are sitting on the sidelines.  Some are sitting because they have homes in other areas that have not yet sold.  Others are sitting hoping that prices will go down.  Others simply can't get loans.  I don't like seeing the average price of new listings up when sales are down.  Sellers seem to be stuck back in early 2007 when prices were still rising because home sales was still strong.
If you need to sell now, price the house just below market value.  If you need to buy, go ahead and buy.  I don't think we will see a substantial enough price decrease to justify waiting.  Interest rates are low and we have no idea how long they will stay that way.  So sellers, get realistic with your price and buyers - buy.
Questions?  Call Sam at 512-293-2422 or contact Sam by email.