June 2012 Real Estate Market Report

Residential Sales Report
A RESEARCH TOOL PROVIDED BY THE AUSTIN BOARD OF REALTORS
June 2012
Were halfway through 2012, and what a year its been. Residential real estate
has finally taken some meaningful strides toward recovery, and theyve all been
self-powered without divine (or governmental) intervention. Yes, there have
been some head fakes in the past, but there's real reason to believe that market
turnaround awaits us. Beyond home prices, key metrics to watch include Days
on Market, Percent of List Price Received and Months Supply of Inventory.
Locally, several indicators showed improvement. Let's see what the rest of our
local data has to say.
New Listings in the Austin region increased 5.5 percent to 3,748. Pending Sales
were up 28.1 percent to 2,802. Inventory levels shrank 24.7 percent to 9,154
units.
Prices moved higher. The Median Sales Price increased 8.6 percent to
$215,000. Days on Market was down 24.7 percent to 54 days. The supplydemand balance stabilized as Months Supply of Inventory was down 38.5
percent to 4.5 months.
We seem to be at a critical inflection point in our search for more employment
opportunities. Job growth provides the dual benefit of stimulating new
household growth as well as relieving distressed homeowners. There's also the
positive feedback loop of housing creating jobs and jobs creating housing.
Keeping the affordability picture afloat, the Fed has vowed to keep interest rates
around 4.0 percent through mid-2013.
Quick Facts
+ 12.4%
+ 8.6%
- 24.7%
Change in
Closed Sales
Change in
Median Sales Price
Change in
Inventory
Market Overview
New Listings
Pending Sales
Closed Sales
Days On Market Until Sale
Median Sales Price
Average Sales Price
Percent of List Price Received
Housing Affordability Index
Inventory of Homes for Sale
Months Supply of Inventory
2
3
4
5
6
7
8
9
10
11
12
Click on desired metric to jump to that page.
Market Overview
Key market metrics for the current month and year-to-date.
Key Metrics
Historical Sparklines
New Listings
6-2009
6-2010
6-2011
6-2010
6-2011
6-2010
6-2011
6-2010
6-2011
6-2010
6-2011
6-2010
6-2011
6-2010
6-2011
6-2010
6-2011
6-2010
6-2011
6-2010
6-2011
20,492
+ 1.1%
2,187
2,802
+ 28.1%
11,610
14,530
+ 25.2%
2,356
2,647
+ 12.4%
10,363
12,088
+ 16.6%
72
54
- 24.7%
82
68
- 17.1%
$198,000
$215,000
+ 8.6%
$190,000
$200,000
+ 5.3%
$262,654
$278,501
+ 6.0%
$253,084
$260,876
+ 3.1%
93.8%
96.1%
+ 2.5%
93.0%
95.1%
+ 2.2%
166
166
- 0.2%
172
176
+ 2.4%
12,160
9,154
- 24.7%
--
--
--
7.3
4.5
- 38.5%
--
--
--
6-2012
Months Supply
of Homes for Sale
6-2009
20,276
6-2012

6-2009
+ 5.5%
6-2012

6-2009
3,748
6-2012
Percent of Original
List Price Received
6-2009
3,551
6-2012
Average Sales Price

6-2009
+/
6-2012
Median Sales Price

6-2009
YTD 2011 YTD 2012
6-2012
Days on Market Until Sale

6-2009
+/
6-2012
Closed Sales
6-2009
6-2012
6-2012
Pending Sales
6-2009
6-2011
6-2012
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 2
New Listings
A count of the properties that have been newly listed on the market in a given month.
June
3,796
Year To Date
3,551
3,748
23,710
20,276
-6.5%
2010
2011
+5.5%
2012
-14.5%
2010
2011
20,492
+1.1%
2012
Month
Prior
Year
Current
Year
+/
July
3,674
3,164
-13.9%
August
2,978
2,702
-9.3%
September
2,683
2,484
-7.4%
October
2,543
2,483
-2.4%
November
2,083
2,052
-1.5%
December
1,795
1,585
-11.7%
January
2,785
2,593
-6.9%
February
2,669
2,892
+8.4%
March
3,971
3,740
-5.8%
April
3,756
3,693
-1.7%
May
3,544
3,826
+8.0%
June
3,551
3,748
+5.5%
12-Month Avg
3,003
2,914
-3.0%
1-2010
1-2011
Historical New Listing Activity

5,500
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2012
Pending Sales
A count of the properties on which contracts have been accepted in a given month.
June
Year To Date
2,802
2,187
14,530
11,673
11,610
1,656
+32.1%
2010
2011
+28.1%
2012
-0.5%
2010
2011
+25.2%
2012
Month
Prior
Year
Current
Year
+/
July
1,639
2,104
+28.4%
August
1,527
1,862
+21.9%
September
1,396
1,697
+21.6%
October
1,423
1,635
+14.9%
November
1,293
1,465
+13.3%
December
1,163
1,267
+8.9%
January
1,451
1,704
+17.4%
February
1,569
2,031
+29.4%
March
2,042
2,504
+22.6%
April
2,107
2,671
+26.8%
May
2,254
2,818
+25.0%
June
2,187
2,802
+28.1%
12-Month Avg
1,671
2,047
+22.5%
1-2010
1-2011
Historical Pending Sales Activity

3,500
3,000
2,500
2,000
1,500
1,000
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2012
Closed Sales
A count of the actual sales that have closed in a given month.
June
Year To Date
2,647
2,211
2,356
+6.6%
2010
2011
12,088
11,038
+12.4%
2012
10,363
-6.1%
2010
2011
+16.6%
2012
Month
Prior
Year
Current
Year
+/
July
1,654
2,182
+31.9%
August
1,686
2,226
+32.0%
September
1,425
1,823
+27.9%
October
1,346
1,603
+19.1%
November
1,340
1,498
+11.8%
December
1,573
1,736
+10.4%
January
1,059
1,196
+12.9%
February
1,225
1,432
+16.9%
March
1,782
2,101
+17.9%
April
1,860
2,130
+14.5%
May
2,081
2,582
+24.1%
June
2,356
2,647
+12.4%
12-Month Avg
1,616
1,930
+19.3%
1-2010
1-2011
Historical Closed Sales Activity

3,500
3,000
2,500
2,000
1,500
1,000
500
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2012
Days on Market Until Sale

Average number of days between when a property is listed and when an offer is accepted in a given month.
June
Year To Date
72
82
67
54
+8.3%
2010
2011
2012
68
68
-24.7%
+20.9%
2010
Prior
Year
Current
Year
+/
July
70
74
+5.8%
August
72
77
+7.1%
September
77
78
+0.7%
October
88
80
-8.7%
November
86
80
-8.0%
December
92
84
-8.8%
January
88
83
-5.8%
February
93
82
-11.5%
March
92
79
-14.4%
April
81
65
-20.1%
May
76
61
-20.0%
June
72
54
-24.7%
12-Month Avg
81
73
-10.2%
Month
2011
-17.1%
2012
Historical Days on Market Until Sale

100
90
80
70
60
50
40
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
Median Sales Price

Median price point for all closed sales, not accounting for seller concessions, in a given month.
June
Year To Date
$215,000
$198,000
$198,000
0.0%
2010
$185,000
+8.6%
2011
2012
$190,000
+2.7%
2010
Prior
Year
Current
Year
+/
July
$211,555
$190,000
-10.2%
August
$194,000
$191,500
-1.3%
September
$188,731
$185,000
-2.0%
October
$190,000
$187,785
-1.2%
November
$179,500
$184,000
+2.5%
December
$189,000
$186,950
-1.1%
January
$184,500
$176,500
-4.3%
February
$185,000
$190,000
+2.7%
March
$182,250
$197,000
+8.1%
April
$189,900
$205,000
+8.0%
May
$192,000
$209,153
+8.9%
June
$198,000
$215,000
+8.6%
12-Mo. Median
$190,913
$195,000
+2.1%
Month
2011
$200,000
+5.3%
2012
Historical Median Sales Price

$220,000
$210,000
$200,000
$190,000
$180,000
$170,000
$160,000
$150,000
$140,000
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
Average Sales Price

Average sales price for all closed sales, not accounting for seller concessions, in a given month.
June
$265,235
Year To Date
$262,654
$278,501
$238,921
- 1.0%
2010
2011
2012
$253,084
+ 5.9%
+ 6.0%
2010
Prior
Year
Current
Year
+/
July
$275,446
$255,611
-7.2%
August
$257,321
$250,351
-2.7%
September
$241,609
$244,565
+1.2%
October
$255,409
$247,299
-3.2%
November
$243,559
$242,519
-0.4%
December
$245,024
$242,411
-1.1%
January
$241,053
$223,203
-7.4%
February
$237,568
$248,306
+4.5%
March
$241,250
$255,172
+5.8%
April
$261,662
$263,838
+0.8%
May
$259,972
$269,407
+3.6%
June
$262,654
$278,501
+6.0%
12-Month Avg
$253,366
$254,572
+0.5%
Month
2011
$260,876
+ 3.1%
2012
Historical Average Sales Price

$280,000
$270,000
$260,000
$250,000
$240,000
$230,000
$220,000
$210,000
$200,000
$190,000
$180,000
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
Percent of Original List Price Received

Percentage found when dividing a propertys sales price by its original list price, then taking the average for all properties sold in a given month,
not accounting for seller concessions.
June
Year To Date
94.3%
94.1%
93.8%
-0.3%
2010
2011
93.0%
95.1%
96.1%
+2.5%
2012
-1.3%
2010
2011
+2.2%
2012
Month
Prior
Year
Current
Year
+/
July
93.1%
93.5%
+0.4%
August
92.4%
93.2%
+0.8%
September
91.9%
92.9%
+1.1%
October
91.2%
93.0%
+2.0%
November
91.3%
92.8%
+1.7%
December
91.5%
92.6%
+1.2%
January
91.6%
92.8%
+1.4%
February
92.3%
93.5%
+1.3%
March
92.6%
94.6%
+2.2%
April
93.4%
95.6%
+2.4%
May
93.4%
95.8%
+2.5%
June
93.8%
96.1%
+2.5%
12-Month Avg
92.5%
94.1%
+1.7%
1-2010
1-2011
Historical Percent of Original List Price Received

99%
98%
97%
96%
95%
94%
93%
92%
91%
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2012

This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary
to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
June
156
2010
Year To Date
166
166
165
+6.9%
-0.2%
2011
2012
2010
Prior
Year
Current
Year
+/
July
145
172
+18.3%
August
161
173
+7.7%
September
167
179
+7.7%
October
164
179
+9.4%
November
173
182
+5.0%
December
164
180
+9.8%
January
171
192
+12.6%
February
169
182
+7.2%
March
172
176
+1.9%
April
166
169
+1.6%
May
168
167
-0.3%
June
166
166
-0.2%
12-Month Avg
166
176
+6.7%
Month
172
176
+4.5%
+2.4%
2011
2012
Historical Housing Affordability Index

200
190
180
170
160
150
140
130
120
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012

The number of properties available for sale in active status at the end of a given month.
June
Prior
Year
Current
Year
+/
July
14,647
11,911
-18.7%
August
13,968
11,269
-19.3%
September
13,250
10,561
-20.3%
October
12,417
10,076
-18.9%
November
11,348
9,407
-17.1%
December
10,016
8,291
-17.2%
January
10,100
8,281
-18.0%
February
10,287
8,434
-18.0%
Month
14,349
12,160
9,154
+6.9%
2010
-24.7%
2011
2012
March
11,185
8,886
-20.6%
April
11,861
9,160
-22.8%
May
12,079
9,235
-23.5%
June
12,160
9,154
-24.7%
12-Month Avg
11,943
9,555
-19.9%
Historical Inventory of Homes for Sale

15,000
14,000
13,000
12,000
11,000
10,000
9,000
8,000
7,000
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
Months Supply of Inventory

The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
June
Prior
Year
Current
Year
+/
July
8.2
7.0
-14.9%
August
8.0
6.5
-18.9%
September
7.8
6.0
-23.0%
October
7.4
5.7
-24.0%
November
6.8
5.2
-22.8%
December
6.0
4.6
-23.1%
January
6.0
4.5
-24.8%
February
6.2
4.5
-27.2%
March
6.9
4.7
-32.2%
April
7.6
4.7
-38.2%
May
7.4
4.6
-37.7%
June
7.3
4.5
-38.5%
12-Month Avg
7.1
5.2
-27.0%
Month
7.9
7.3
4.5
-7.3%
2010
-38.5%
2011
2012
Historical Months Supply of Inventory

9
3
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012

June 2012 Real Estate Market Report

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June 2012 Real Estate Market Report

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Residential Sales Report

A RESEARCH TOOL PROVIDED BY THE AUSTIN BOARD OF REALTORS

Click on desired metric to jump to that page.

Inventory of Homes for Sale

Housing Affordability Index

Average Sales Price

Median Sales Price

YTD 2011 YTD 2012

Days on Market Until Sale

Historical New Listing Activity

Historical Pending Sales Activity

Historical Closed Sales Activity

Days on Market Until Sale

Historical Days on Market Until Sale

Median Sales Price

Historical Median Sales Price

Average Sales Price

Historical Average Sales Price

Percent of Original List Price Received

Historical Percent of Original List Price Received

Housing Affordability Index

Historical Housing Affordability Index

Inventory of Homes for Sale

Historical Inventory of Homes for Sale

Months Supply of Inventory

Historical Months Supply of Inventory

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