From Alamo Title Co:

The number of active listings are up 18.42% over last year.

The number of new listings are down this week 13.84% (compared to the same week last year).  Pendings and solds are down as well.

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

For additional information on the current market, please visit out web site.

The Week in Review
Units for Sale: 

Aug 3

- Aug 9, 2008

(compared to the same week in 2007)

New listings down this week 13.84%

Pendings down 17.51%

Solds down 21.73%

 

As for Average Prices:

For Aug 3 - Aug 9, 2008 

Sold average sales prices increased 17.24% to $334,838.  In 2007 it was $285,605 for the same week. 

 

Check it out at

 

The Month in Review

July 2008

Units for Sale: (compared to July 2007)

New listings were down 7.22%.
Pendings were down 21.19%.
Solds decreased by 24.61%.

As for Average Prices:

The "New Listings" average list price is up 8.90% to 319,346.  In July 2007 the average list price was $293,258. 
Sold average sales prices increased 0.08% to $253,500.  For June 2007 it was $253,310. 

Check it out at http://www.alamotitle-austin.com/mls_statistics.php

 
Did You Know...?

That we had 10,875 active listings during the same week in 2007?  Today there is 12,878 active listings!  That is a 18.42% increase from last year.

My Comments: 

If you have been following Austin real estate market stats you will see that as we move forward in time, the percent of pendings and solds has been a shrinking as a number.  I see that as getting us just a bit more in line with market conditions when fewer people were finding themselves able to qualify for a mortgage.  We are getting close to the time that we will be able to compare monthly and weekly stats apples to apples.  The first half of 2007 was almost as good as 2006 in terms of home sales and 2006 broke all kinds of records.  Things started to slow thanks to the credit mess at the end of summer and really hit the skids in October when the credit market really got torn up.  What I want to see is October and beyond compared to 12 months before.

Although unemployment has risen some and job growth is down, the Austin economy is still pretty healthy and Austin still has one of the best housing markets in the country.  When we the "national" picture improve, Austin's "recovery" should be faster and stronger than many other cities.  I know that there will be people who will argue this, but this is my opinion.