June, 2009 Austin Real Estate Market Stats
June is over and I just pulled numbers from the MLS. I looked at sales of all residential units and then just at single-family homes.
As you can see, units sold were down around 21% in 2009 compared to dropping around 15% in 2008. As you can also see, prices dropped, but not terribly. You can also see that it is taking longer to sell than last year and the year before. We are still feeling lucky that we did not see the huge and artificial appreciation that some other markets saw.
I also looked at the Lake South (LS) Area in the MLS because that is where my office is located.
The numbers you see at the top are all single-family sales in LS. Prices were down almost 8%. Below those numbers are numbers for new construction. The sales price for new homes was down over 13% and that wasn't as bad as I had expected. I have posted about this before. Many builders in LS have been selling pretty far below list price because they have had to in order to make a sale.
So home sales in the Austin area were down around 20% from a year ago and prices dropped, but it could have been worse.