More Austin Real Estate Market Stats From Alamo Title Co.
The Austin Market:
The number of active listings are down 4.84% from last year during the same week.
New listings are down 6.29%.
Pendings are up this week by 17.91%.
Sold residential units are up 16.67% compared to the same week last year.
Units for Sale:
Jan. 24 - Jan. 30, 2010
(compared to the same week in 2009)
New listings down this week 6.29%
Pendings are up this week 17.91%
Solds are up 16.67%
As for Average Prices:
Jan. 24 - Jan. 30, 2010
Sold average sales prices increased 6.84% to $245,733. In 2009 it was $229,997 for the same week.
Preliminary January 2010 Data:
Units for Sale: (compared to January 2009)
New listings are up 2.62%.
Pendings are up 8.99%.
Solds increased by 21.90%
As for Average Prices:
The "New Listings" average list price is down 10.93% to $285,225. In January 2009 the average list price was $320,225.
Sold average sales prices increased 6.38% to $236,985. For January 2009 it was $222,775.
Preliminary January 2010 Data:
Units for Sale: (compared to January 2009)
New listings are up 2.62%.
Pendings are up 8.99%.
Solds increased by 21.90%
As for Average Prices:
The "New Listings" average list price is down 10.93% to $285,225. In January 2009 the average list price was $320,225.
Sold average sales prices increased 6.38% to $236,985. For January 2009 it was $222,775.
Sam's Comments: lower prices are not a big surprise, but I would like to see a breakdown from low to high. The big discounting of high-end homes must be helping keep average prices across the area down. Seeing the volume of pending home sales and actual homes sold is encouraging. Let's see if it keeps up.
One thing we are seeing is fewer listings coming on the market and more listings selling. People may be waiting another month or so to put homes back on the market. But if sales stay ahead of new listings, inventory will go down. Assuming demand continues high, we may finally see enough of a reduction of inventory to push prices up.