A free research tool from the Austin Board of REALTORS®

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Residential Sales Report

May 2010
May 2010 provided our first month of data after an extensive 18-month New Listings 2
tax credit party. And the hangover has apparently set in. The tax credit
clearly propped up sales, so they predictably took a substantial dip a Pending Sales 3
month after it expired
expired. Pending Sales decreased 26
26.88 percent
compared to last May to 1,598 purchase agreements signed. Keep in
Cl
Closed
d Sales
S l 4
mind that closed sales will remain strong through the end of June as Days On Market Until Sale 5
buyers wrap up before the June 30 closing date deadline. In fact, there
were 2,163 Closed Sales, up 15.8 percent over last year at this time. Median Sales Price 6
Average Sales Price 7
New Listings posted a slight decrease to 3,463 new homes on the
market, representing a 0.4 percent year-over-year decrease. This left Percent of Original List Price Received at Sale 8
13,787 Total Active Listings for sale at month's end.
Housing Affordability Index 9
As expected, Median Sales Price did post a slight 1.1 percent decrease Housing Supply Outlook
over the same period last year, landing at $188,000. We anticipate
prices remaining relatively soft due to the displaced demand effect. All Residential Properties 10
It still remains to be seen whether the dip in buyer activity is a short-
Under $125,000 and $125,001 to $175,000 11
term effect of the credit deadline passing or a result of long-term $175,001 to $250,000 and $250,001 to $400,000 12
changes in demand. Regardless, we expect a slowed summer selling
season. $400,001 to $750,000 and $750,001 and above 13
Market Overview 14
Annual Review 15

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 1
 New Listings
A Monthly Indicator from the Austin Board of REALTORS®

May Year to Date

4,342
20,615 19,918
3,476 3,463
16,989

One Year One Year

Change: Change:

- 0.4% + 17.2%
Two Year Two Year
Change: Change:

- 20.2% - 3.4%

2008 2009 2010 2008 2009 2010

Historical Market Activity

5,500

New Listings
5,000
Pending Sales
4,500 Closed Sales

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 2
 Pending Sales
A Monthly Indicator from the Austin Board of REALTORS®

May January through April

April Year to Date
2,355 11,145
2,355 2,183 11,145 10,412
2,183 10,412
8,728
8,728
1,598
1,598

One Year One Year

Change: Change:
- 26.8% 19.3%
Two Year Two Year
Change: Change:
- 32.1% -6.6%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Market Activity

5,000

New Listings Pending Sales Closed Sales

4,500

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 3
 Closed Sales
A Monthly Indicator from the Austin Board of REALTORS®

May January through April

April Year to Date
2,352
2,352
2,163
2,163 9,732
1,868 9,732
1,868 8,625
8,625
7,184
7,184

One Year One Year

Change: Change:

+ 15.8% + 20.1%
Two Year Two Year
Change: Change:
- 8.0% - 11.4%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Market Activity

5,500

New Listings
5,000
Pending Sales
4,500 Closed Sales

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 4
Days on Market Until Sale
A Monthly Indicator from the Austin Board of REALTORS®

May January through April

April
75
Year to Date
75
79
79

61
61 62
62 68
67
67 68

One Year One Year

Change: Change:
- 18.3% - 14.2%
Two Year Two Year
Change: Change:
+ 0.2% + 1.1%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Days on Market Until Sale

90

80

70

60

50

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 5
 Median Sales Price
A Monthly Indicator from the Austin Board of REALTORS®

May January through April

April Year to Date Figures do not take into account seller concessions.
$186,500 $185,000
$192,000 $190,000 $188,000 $182,000
$186,500 $185,000 $182,000
$192,000 $190,000 $188,000

One Year One Year

Change: Change:
- 1.1% - 1.6%
Two Year Two Year
Change: Change:
- 2.1% - 2.4%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Median Prices

$200,000

$190,000

$180,000

$170,000

$160,000

$150,000

$140,000

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 6
 Average Sales Price
A Monthly Indicator from the Austin Board of REALTORS®

May January through April

April Year to Date Figures do not take into account seller concessions.

$255,391
$255,391 $246,616
$239,086 $241,727
$246,616 $241,727 $233,706 $232,647
$239,086 $233,706 $232,647

One Year One Year

Change: Change:
- 3.1% - 0.5%
Two Year Two Year
Change: Change:
- 6.4% - 3.8%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Average Prices

$260,000

$240,000

$220,000

$200,000

$180,000

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 7
 Percent of Original List Price Received at Sale
A Monthly Indicator from the Austin Board of REALTORS®

May Year to Date The Percent of Original List Price Received at Sale is calculated by
comparing the final sales prices of closed sales to their original list prices.
This does not account for list prices from any previous listing contracts. The
sales price does not account for seller concessions.

95.7%
94.8% 94.9%
94.3%
93.4%
92.5%

One Year
Change: One Year
Change:
+ 1.5%
+ 2.0%
Two Year
Change: Two Year
Change:
- 1.0%
- 0.6%

2008 2009 2010 2008 2009 2010

Historical Percent of Original List Price Received at Sale

100.0%

95.0%

90.0%

85.0%

80.0%

Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 8
 Housing Affordability Index
A Monthly Indicator from the Austin Board of REALTORS®

The HAI formula measures housing affordability for the Austin Housing Market. An HAI of
May
April 120 means the median family income is 120% of the necessary income to qualify for the
median priced home using a 20% down, 30-year fixed rate mortgage.
146
140 146
134 140
134

One Year
Change:
- 4.0%
Two Year
Change:
+ 4.5%
2008 2009 2010
2008 2009 2010

Historical Housing Affordability Index

180

170

160

150

140

130

120

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 9
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Inventory of Active Listings

Previously Owned Single-Family
10,701 New Construction Condo-Townhouse
2,671 2,739

2,293

1,741

1,382
1,120

357 320 343 329

1,245 1,314 152
47
234
Up to $125,000 $125,001 to $175,001 to $250,001 to $400,001 to $750,001 and
$175,000 $250,000 $400,000 $750,000 above
Single-Family Condo-Townhouse

Months Supply of Inventory

Previously Owned Single-Family
New Construction Condo-Townhouse
All 8.4 8.3 All 28.2
7.7
7.4 7.2 7.3 25.5 25.6
7.1
22.0
5.8
5.6

12.0 11.5
11.1
8.6 7.9 8.2
6.0 6.2 6.4 6.6
5.2 5.4 5.0 5.1

All Single-Family Condo-Townhouse Up to $125,000 $125,001 to $175,001 to $250,001 to $400,001 and $750,001 and
$175,000 $250,000 $400,000 above above

A market is considered balanced between buyers and sellers when there is roughly a 5- to 6-month supply of homes available for purchase.

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 10
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Under $125,000
Inventory Months Supply
1,673 Previously Owned Previously Owned
New Construction New Construction
6.3 6.1
1,330 5.8
5.3 5.2
4.4

343

66 52 14

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$125,001 to $175,000
Inventory Months Supply
Previously Owned Previously Owned
New Construction New Construction
2,382 6.7
2,101
5.3 5.2

4.1
3.6 3.6

231 192 281

39

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 11
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$175,001 to $250,000
Inventory Months Supply
Previously Owned Previously Owned
2,644 New Construction New Construction
8.9
2,348
7.2
6.9 6.7

5.0 4.8

370 323 296

47

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$250,001 to $400,000
Inventory Months Supply
Previously Owned Previously Owned
2,682
New Construction New Construction
2,431 13.8

8.8 8.5 8.4

5.7 5.3

386 308 251

78

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 12
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$400,001 to $750,000
Inventory Months Supply
Previously Owned Previously Owned
1,626
1,511 New Construction New Construction 23.0

19.3

12.3 11.9

8.4 7.7

267 230
115
37

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$750,001 and above

Inventory Months Supply
Previously Owned Previously Owned
1,008 New Construction New Construction
980 25.8 26.3
23.9
21.0

16.8

159 140
28 19 0.0

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 13
 Market Overview
A Monthly Indicator from the Austin Board of REALTORS®

5-Year
This Year Last Year
May 2010 This Year Last Year
Percent
Change
5-Year
Average
Year-to-
Date
Year-to-
Date
Percent
Change
Year-to-
Date
Average
New Listings Mar 4,680 3,667 + 27.6% 4,164 11,493 9,882 + 16.3% 10,981
Apr 4,962 3,631 + 36.7% 4,310 16,455 13,513 + 21.8% 15,292
May 3,463 3,476 - 0.4% 4,013 19,918 16,989 + 17.2% 19,305
Pending Sales Mar 2,478 1,855 + 33.6% 2,448 5,779 4,591 + 25.9% 6,234
Apr 3,035 1,954 + 55.3% 2,597 8,814 6,545 + 34.7% 8,832
May 1,598 2,183 - 26.8% 2,438 10,412 8,728 + 19.3% 11,270
Closed Sales Mar 1,988 1,501 + 32.4% 2,147 4,241 3,608 + 17.5% 5,054
Apr 2,221 1,708 + 30.0% 2,224 6,462 5,316 + 21.6% 7,279
May 2,163 1,868 + 15.8% 2,470 8,625 7,184 + 20.1% 9,749
Days on Market Until Sale Mar 69 83 - 16.6% 69 72 83 - 12.9% 71
Apr 66 76 - 12.5% 63 70 81 - 12.9% 69
M
May 62 75 - 18.3%
18 3% 61 68 79 - 14.2%
14 2% 67
Median Sales Price Mar $178,000 $179,375 - 0.8% $177,375 $178,000 $180,000 - 1.1% $176,680
Apr $185,000 $185,300 - 0.2% $181,990 $179,900 $181,000 - 0.6% $178,080
May $188,000 $190,000 - 1.1% $184,600 $182,000 $185,000 - 1.6% $180,100
Average Sales Price Mar $230,468 $228,039 + 1.1% $232,657 $230,835 $229,929 + 0.4% $231,677
Apr $229,835 $227,567 + 1.0% $233,530 $230,491 $229,170 + 0.6% $232,191
May $239,086 $246,616 - 3.1% $243,489 $232,647 $233,706 - 0.5% $235,039
Total Active Listings Available Mar 12,550 11,280 + 11.3%
Apr 13,165 11,462 + 14.9% -- -- -- -- --
May 13,787 11,535 + 19.5%
Percent of Original List Mar 94.4% 92.3% + 2.3% 95.0% 95.0% 91.8% + 3.4% 93.9%
Price Received at Sale Apr 94.8% 92.9% + 2.0% 95.5% 95.5% 92.2% + 3.6% 94.2%
May 94.8% 93.4% + 1.5% 95.7% 95.7% 92.5% + 3.5% 94.3%
Housing Affordability Index Mar 146 157 - 6.9% 148
Apr 142 154 - 8.2% 145 -- -- -- --
May 140 146 - 4.0% 141
Months Supply of Inventory Mar 6.7 6.6 - 6.9%
Apr 6.7 6.8 - 8.2% -- -- -- -- --
May 7.2 6.9 - 4.0%

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 14
Annual Review
A free research tool from the Austin Board of REALTORS®

Closed Sales January through April

April Days on Market Until Sale
$184,000
76
30,293 30,293 $171,500
67 67
28,051 28,051 $160,000
26,891 26,891
59 57
22,437
20,906

+ 12.7% - 7.4% - 20.0% - 6.8% - 12.8% - 2.4% + 17.1% + 12.5%

96.3% 96.8% 96.1% 96.3% 96.8% 96.1%

2005 2006 2007 2008 2009 2005 2006 2007 2008 2009

Median Sales Price Percent of Original List Price Received at Sale

$184,000 $187,500 $185,000
$171,500
$160,000

96.8%
96.3% 96.1%

94.3%

93.4%

+ 7.2% + 7.3% + 1.9% - 1.3%

+ 0.5% - 0.7% - 1.8% - 1.0%

2005 2006 2007 2008 2009 2005 2006 2007 2008 2009

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 15