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June 2008

There are 8 blog entries for June 2008.

Austin Real Estate Statistics 2nd Quarter 2008

Thursday, June 26th, 2008 at 4:23pm. 3,089 Views

The Austin Texas real estate market is remaining steady when comparing the 1st and 2nd Quarter performances.  While the number of homes sold in the 2nd Quarter 2008 are down and the number of homes withdrawn are up compared to 2007, Austin home prices continue to climb slightly.  With Austin unemployment remaining low at 4.5% and home prices remaining steady, Austin real estate continues to outperform the rest of the country for the most part.  Following is a more detailed analysis of the Austin Texas real estate market.  Pay close attention to the luxury and higher priced market compared to the $250K-$500K homes.  The $250K-$500K homes continue to outperform the higher end homes with a higher volume of homes sold.  Luxury and higher priced homes are

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Austin Real Estate Unemployment Rate Increases Slightly, Number of Austin Homes Sold Still Down, Austin Home Prices Still Up For the Year

Saturday, June 21st, 2008 at 5:26pm. 2,013 Views

The May 2008 unemployment numbers have arrived from the Texas Workforce Commission! The updated numbers show that the Austin Texas unemployment rate increased from 3.3% in April 2008 to 3.7% in May 2008, which represents an increase of 3,400 unemployed people in Austin between April and May 2008.   When comparing May 2008 to May 2007, May 2007 was better with 4,200 less people unemployed.

So far through May of this year, 3,608 houses have been sold with a median price of $120.95 per square foot, which is 20% less houses sold in 2008 than the 4,509 that sold during the same time in 2007.  The median sold price for homes in Austin has actually increased by 2.4% in 2008 compared to 2007.

While the Austin unemployment rate has increased since last month

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What Do Current Market Statistics Mean for Austin Home Buyers?

Thursday, June 19th, 2008 at 10:38am. 2,387 Views

Comparing June 1-18 of 2007 versus 2008, Austin home prices are down 1.5%, there is a 41% decline in the number of homes sold, and a 34% increase in the number of homes withdrawn from the market.  There are a lot of home owners in Austin that would like to sell, but in general only those that are serious about selling at fair market prices are succeeding.  Most other buyers that are priced too high are removing their home from the market rather than letting them sit.  This means that you as a Buyer don’t have to waste as much time weeding through an inventory of over priced homes.  You might even find bargains around town if you are diligent and if you know of a bargain when you see it.    So if your looking to buy, get at it!

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So Far in June, Sold Prices for Austin Texas Homes for Sale Decrease!

Wednesday, June 18th, 2008 at 9:36pm. 1,913 Views

Although we are only 18 days into June 2008, I’m a bit disappointed to see that the average and median price of homes sold in Austin Texas from June 1-18, 2008 have decreased by 1.9% and 1.5% respectively compared to the same time period during 2007.  While this is not a large percentage decrease in sold prices, it is the first time that I’ve recorded a citywide decrease in Austin Texas sold prices since the Austin real estate downturn. 

On June 2nd Regent Property Group reported a 39% decline in homes sold and a 39% increase in homes withdrawn from the Austin real estate market when comparing May 2007 to May 2008.  So far this month between June 1 – June 18th, 476 homes sold in Austin Texas and 259 were withdrawn from the market, which is a 41%

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Austin Texas Neighborhood Ridge At Lantana Featured In New Robert Rodriguez Movie Called Shorts!

Friday, June 13th, 2008 at 1:19am. 3,641 Views

It was quite a surprise to see Robert Rodriguez and his car parked in front of my house on Monday.  He was in the midst of filming his newest movie called Shorts, a family film about a rock that grants wishes to those in possession of its powers.  The result is a small town called Black Falls getting turned upside down.  This new movie stars James Spader, Leslie Mann, William H. Macy, and John Cryer, all of whom were on-site at the Ridge at Lantana for filming at one point or another throughout the last month.

Several homes for sale in Lantana were used as a set for the movie.  Most of the homes in Lantana were built within the last three years, so they are in pristine condition.  Many of the homes were built with a limestone exterior or a limestone and

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Ridge at Lantana Market Update 6/10/08

Tuesday, June 10th, 2008 at 2:28pm. 2,372 Views

According to the Austin Board of Realtors 4 homes have sold in the Ridge at Lantana since January 1, 2008 averaging $128 per square foot, a 3.8% average price reduction compared to the 6 homes sold during Oct. & Nov. of last year.  Currently, there are 18 active listings averaging $136.88 per square foot ask price and two pending listings averaging $136.33 per square foot.  So homes in the Ridge at Lantana are asking an average of 6.5% higher than they are selling.

Sold: Since 5/1/08 no homes have sold
Pending: There are two homes currently pending sale including 7400 Bonniebrook Dr asking $132 per square foot ($524,900 with 3,972 square feet) and 5821 Terravista Drive asking $140.52 per square foot ($357,900 with 2,547 square feet).
Withdrawn: 2 homes

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Austin Real Estate Unemployment Low, Austin Home Prices Increase, Number of Austin Homes Sold Down

Saturday, June 7th, 2008 at 9:44pm. 2,191 Views

According to the Texas Workforce Commission, the Austin Texas unemployment rate decreased from 3.7% in March 2008 to 3.3% in April 2008.  May 2008 results have not been released yet.  This represents a decrease of 3,000 unemployed people in Austin between March and April.   When comparing April of 2007 to April of 2008, there were 1,100 less people employed in Austin in 2008. 

While the number of homes sold in Austin in May 2008 are the lowest in the last 8 years, unemployment remains extremely low and home values have continued to rise slightly.  So if you are considering selling your home, now is still a good time. 


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Austin Real Estate Market Update May 2008 - Sell NOW with Prices on the Rise!

Monday, June 2nd, 2008 at 4:08pm. 1,962 Views

While Austin residential real estate home prices continue to rise slowly, the number of homes selling in Austin is down substantially and it seems to be getting worse each month.  So if you need to sell your home, NOW is a good time with prices still on the rise for Austin homes.  With that said, it is a rough time for many Austin realtors who rely on high sales volume to make a steady living.

Regent Property Group reported last month that during the 1st Quarter of 2008 there was a 25% decline in Austin homes sold and 43% increase in Austin homes withdrawn from the Austin real estate market compared to the 1st Quarter of 2007.  During May of this year there was a 37% decline in homes sold and a 39% increase in homes withdrawn from the Austin real estate

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