Austin Real Estate Stats - July 2011

Residential Sales Report
A RESEARCH TOOL PROVIDED BY THE AUSTIN BOARD OF REALTORS
July 2011
At the height of summer, we're finally beginning to move beyond comparisons
to the 2010 incentive market. Even so, sudden changes in sales volumes are
likely due to factors occurring at this time last year. Qualified buyers may find
more attractive opportunities now than during either of the recent tax credits.
Interest rates should hold their ground around five percent, though the shift in
the federal credit rating could change that. Some indicators suggest improving
conditions, but lets see jjust how were faring
g locally.
y
New Listings in the Austin region decreased 14.1 percent to 3,156. Pending
Sales were up 39.3 percent to 2,286. Inventory levels shrank 22.8 percent to
11,300 units, but consumers are still finding terrific opportunities. Strong
affordability is partly driving purchase demand.
Prices softened a bit. The Median Sales Price declined 9.3 percent to $191,975.
Days on Market increased 5.2 percent to 74 days. Absorption rates improved as
Months Supply of Inventory was down 16.1 percent to 6.7 months.
Second quarter GDP growth was just 1.3 percent after a meager 0.4 percent
gain in the first quarter. We added 117,000 new jobs in July, a stronger gain
than expected after an embarrassing June. Even though a budget deal has
been reached, several challenges persist. Changes to Fannie, Freddie and the
mortgage interest deduction are still in play. As consumers absorb distressed
inventory and labor market conditions improve, the wheels of recovery grind on.
Quick Facts
+ 22.9%
- 9.3%
- 22.8%
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.
All data comes from the ABOR Multiple Listing Service. Powered by 10K Research and Marketing. | 1
Market Overview
Key market metrics for the current month and year-to-date.
Key Metrics
Historical Sparklines
New Listings
7-2008
7-2009
7-2010
7-2009
7-2010
7-2009
7-2010
7-2009
7-2010
7-2009
7-2010
7-2009
7-2010
7-2009
7-2010
7-2009
7-2010
7-2009
7-2010
7-2009
7-2010
23,420
- 14.5%
1,641
2,286
+ 39.3%
13,321
14,017
+ 5.2%
1,654
2,033
+ 22.9%
12,692
12,330
- 2.9%
70
74
+ 5.2%
68
81
+ 18.4%
$211,555
$191,975
- 9.3%
$188,000
$190,000
+ 1.1%
$275,446
$258,763
- 6.1%
$243,682
$253,769
+ 4.1%
93.1%
93.5%
+ 0.4%
94.1%
93.1%
- 1.1%
144
169
+ 17.2%
159
170
+ 7.0%
14,633
11,300
- 22.8%
--
--
--
8.0
6.7
- 16.1%
--
--
--
7-2011
Months Supply
of Homes for Sale
7-2008
27,384
7-2011

7-2008
- 14.1%
7-2011

7-2008
3,156
7-2011
Percent of Original
List Price Received
7-2008
3,674
7-2011
Average Sales Price

7-2008
+/
7-2011
Median Sales Price

7-2008
YTD 2010 YTD 2011
7-2011
Days on Market Until Sale

7-2008
+/
7-2011
Closed Sales
7-2008
7-2011
7-2011
Pending Sales
7-2008
7-2010
7-2011
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.
July
Year To Date
3,689
3,674
27,384
24,305
3,156
2009
-0.4%
-14.1%
2010
2011
2009
23,420
+12.7%
-14.5%
2010
2011
Month
Prior
Year
Current
Year
+/
August
3,280
2,978
-9.2%
September
3,015
2,683
-11.0%
October
3,015
2,543
-15.7%
November
2,483
2,083
-16.1%
December
1,969
1,795
-8.8%
January
3,318
2,784
-16.1%
February
3,493
2,668
-23.6%
March
4,679
3,968
-15.2%
April
4,960
3,753
-24.3%
May
3,464
3,542
+2.3%
June
3,796
3,549
-6.5%
July
3,674
3,156
-14.1%
12-Month Avg
3,429
2,959
-13.7%
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
1-2010
1-2011
Pending Sales
A count of the properties on which contracts have been accepted in a given month.
July
Year To Date
2,286
2,086
12,964
14,017
13,321
1,641
2009
-21.3%
+39.3%
2010
2011
2009
+2.8%
+5.2%
2010
2011
Month
Prior
Year
Current
Year
+/
August
2,045
1,529
-25.2%
September
1,922
1,398
-27.3%
October
1,839
1,424
-22.6%
November
1,251
1,293
+3.4%
December
1,108
1,164
+5.1%
January
1,479
1,450
-2.0%
February
1,795
1,574
-12.3%
March
2,429
2,043
-15.9%
April
2,873
2,117
-26.3%
May
1,445
2,285
+58.1%
June
1,659
2,262
+36.3%
July
1,641
2,286
+39.3%
12-Month Avg
1,791
1,735
-3.1%
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
1-2010
1-2011
Closed Sales
A count of the actual sales that have closed in a given month.
July
Year To Date
2,285
12,692
12,330
11,744
2,033
1,654
2009
-27.6%
+22.9%
2010
2011
2009
+8.1%
-2.9%
2010
2011
Month
Prior
Year
Current
Year
+/
August
1,975
1,686
-14.6%
September
1,959
1,425
-27.3%
October
1,969
1,346
-31.6%
November
1,745
1,340
-23.2%
December
1,519
1,573
+3.6%
January
993
1,059
+6.6%
February
1,264
1,225
-3.1%
March
2,011
1,781
-11.4%
April
2,252
1,853
-17.7%
May
2,307
2,063
-10.6%
June
2,211
2,316
+4.7%
July
1,654
2,033
+22.9%
12-Month Avg
1,822
1,642
-8.5%
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
1-2010
1-2011
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.
July
Year To Date
73
70
74
81
77
68
2009
-3.6%
+5.2%
2010
2011
2009
-11.9%
+18.4%
2010
2011
Month
Prior
Year
Current
Year
+/
August
73
72
-1.5%
September
69
77
+12.3%
October
72
88
+22.8%
November
75
86
+15.0%
December
79
92
+15.6%
January
79
88
+11.9%
February
72
93
+28.6%
March
69
92
+32.9%
April
66
81
+22.3%
May
62
76
+22.2%
June
67
72
+8.3%
July
70
74
+5.2%
12-Month Avg
70
81
+15.9%
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
Median Sales Price

Median price point for all closed sales, not accounting for seller concessions, in a given month.
July
Year To Date
$186,990
$188,000
$190,000
$211,555
$191,975
$186,500
2009
+13.4%
-9.3%
2010
2011
2009
+0.5%
+1.1%
2010
2011
Month
Prior
Year
Current
Year
+/
August
$185,000
$194,000
+4.9%
September
$183,000
$188,731
+3.1%
October
$179,000
$190,000
+6.1%
November
$174,000
$179,500
+3.2%
December
$186,000
$189,000
+1.6%
January
$175,000
$184,500
+5.4%
February
$180,745
$185,000
+2.4%
March
$178,000
$182,000
+2.2%
April
$185,000
$189,900
+2.6%
May
$186,000
$193,000
+3.8%
June
$198,000
$198,425
+0.2%
July
$211,555
$191,975
-9.3%
12-Mo. Median
$185,000
$190,000
+2.7%
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
Average Sales Price

Average sales price for all closed sales, not accounting for seller concessions, in a given month.
July
Year To Date
$275,446
$258,763
$238,247
2009
$236,694
+ 15.6%
- 6.1%
2010
2011
2009
$243,682
$253,769
+ 3.0%
+ 4.1%
2010
2011
Month
Prior
Year
Current
Year
+/
August
$235,796
$257,321
+9.1%
September
$234,565
$241,609
+3.0%
October
$232,209
$255,409
+10.0%
November
$231,094
$243,559
+5.4%
December
$248,772
$245,024
-1.5%
January
$233,052
$241,053
+3.4%
February
$233,103
$237,568
+1.9%
March
$230,812
$241,053
+4.4%
April
$228,668
$259,847
+13.6%
May
$236,487
$260,360
+10.1%
June
$265,235
$262,815
-0.9%
July
$275,446
$258,763
-6.1%
12-Month Avg
$240,468
$251,913
+4.8%
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
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.
July
Year To Date
93.9%
2009
93.1%
93.5%
-0.9%
+0.4%
2010
2011
93.0%
2009
94.1%
93.1%
+1.2%
-1.1%
2010
2011
Month
Prior
Year
Current
Year
+/
August
94.1%
92.4%
-1.8%
September
94.0%
91.9%
-2.2%
October
93.8%
91.2%
-2.7%
November
93.9%
91.3%
-2.8%
December
93.1%
91.5%
-1.8%
January
93.1%
91.6%
-1.7%
February
93.5%
92.3%
-1.3%
March
94.4%
92.6%
-1.9%
April
94.8%
93.4%
-1.4%
May
94.8%
93.4%
-1.4%
June
94.1%
93.8%
-0.3%
July
93.1%
93.5%
+0.4%
12-Month Avg
94.0%
92.6%
-1.5%
Historical Percent of Original List Price Received

99.0%
98.0%
97.0%
96.0%
95.0%
94.0%
93.0%
92.0%
91.0%
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011

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.
July
Year To Date
170
169
149
3 4%
-3.4%
2009
159
149
144
2010
+17 2%
+17.2%
2011
+7 0%
+7.0%
2009
Prior
Year
Current
Year
August
153
157
+2.5%
September
156
161
+3.2%
October
159
161
+1.3%
November
165
170
+2.7%
December
151
160
+6.2%
January
162
168
+4.1%
Month
+7 0%
+7.0%
2010
2011
+/
February
157
167
+6.3%
March
160
171
+7.1%
April
154
166
+7.7%
May
154
167
+8.5%
June
149
165
+10.2%
July
144
169
+17.2%
12-Month Avg
155
165
+6.4%
Historical Housing Affordability Index

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

The number of properties available for sale in active status at the end of a given month.
July
14,633
12,464
11,300
2009
-3.4%
-22.8%
2010
2011
Month
Prior
Year
Current
Year
+/
August
12,036
13,949
+15.9%
September
11,526
13,229
+14.8%
October
11,162
12,394
+11.0%
November
10,869
11,324
+4.2%
December
9,870
9,992
+1.2%
January
10,509
10,072
-4.2%
February
11,170
10,253
-8.2%
March
12,198
11,141
-8.7%
April
13,094
11,791
-10.0%
May
13,772
11,954
-13.2%
June
14,337
11,889
-17.1%
July
14,633
11,300
-22.8%
12-Month Avg
12,098
11,607
-3.1%
Historical Inventory of Homes for Sale

15,000
14,000
13,000
12,000
11,000
10,000
9,000
8,000
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
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.
July
8.0
7.5
6.7
2009
-3.4%
-22.8%
2010
2011
Month
Prior
Year
Current
Year
+/
August
7.3
7.8
+7.4%
September
6.9
7.6
+10.0%
October
6.5
7.3
+11.2%
November
6.2
6.8
+9.6%
December
5.6
6.0
+6.6%
January
6.0
6.0
+0.6%
February
6.3
6.1
-2.9%
March
6.8
6.7
-0.5%
April
7.1
7.3
+2.7%
May
7.1
7.7
+7.3%
June
7.7
7.3
-5.0%
July
8.0
6.7
-16.1%
12-Month Avg
6.8
6.9
+2.2%
Historical Months Supply of Inventory

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

Austin Real Estate Stats - July 2011

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Austin Real Estate Stats - July 2011

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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 2010 YTD 2011

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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