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September 2008

There are 9 blog entries for September 2008.

Austin Unemployment and Austin Real Estate Report August 2008

Thursday, September 25th, 2008 at 10:06pm. 3,180 Views

Austin unemployment continues to be on the rise in 2008.  Regarding Austin homes January through August of 2008, the number of single-family homes sold is down 23%, and home prices are up 2% for the year with overall Austin home prices down for the first time in August (comparing August 2008 to August 2007). 

Since April of 2008 the Austin unemployment has increased by 27% from 3.3% to 4.5%, which is an increase of 10,800 people unemployed.  This compares to a 13.5% increase in unemployment during the same period of time in 2007, which represented an increase of 1,600 unemployed.  The Austin unemployment rate has increased by 13% since January, an increase of 5,600 unemployed.  This compares to a 5% decrease in unemployment during the same period of

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Learn where Austin home prices are down - find a deal

Thursday, September 25th, 2008 at 10:48am. 2,317 Views

My press release called "To Delight of Buyers, Real Estate Firm Reveals Areas Where Austin Home Prices are Down" can be found at the following link: Austin homes.  This is the press release that follows my release of my previous blog about Austin home prices by area comparing 2008 to 2007 (Jan 1 - Sept 18).  This is an excellent place to determine what parts of Austin have seen Austin home depreciation, which could mean finding a good deal for buyers and investors.

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Continued...Austin home prices up. Austin home sales are down. What about your neighborhood?

Monday, September 22nd, 2008 at 9:31pm. 3,212 Views

Below article is a continuation of my previous blog found at the following link: http://www.regentpg.com/blog/brian-talley/austin-home-prices-are-up-home-sales-are-down-is-your-neighborhood-safe/show/

Let’s now look at the more sobering reality.  When considering home sales volume in Austin in 2008, the numbers are telling.  Only one zip code in Austin had an actual increase in the number of homes sold in 2008 compared to 2007, which happens to be 78705 located in central Austin where you will find subdivisions such as Aldridge Place, Harpers, and Oakwood (**See below for a longer list of subdivisions).  The 78756 zip code in central Austin had the same number of homes sold in 2008 as in 2007.  The other 49 zip codes that we tracked had anywhere from 4%

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Austin home prices are up. Home sales are down. Is your neighborhood safe?

Monday, September 22nd, 2008 at 9:29pm. 5,316 Views

Austin homes: Prices are up 2% for the year for single-family homes in Austin Texas.  But does this indicate that all areas of Austin have gone up in value?  Likewise, the number of single-family homes sold in Austin is down 23% for the year, but does this mean that all areas of Austin have slowing home sales? In order to determine the answer to these questions we decided to compare 2008 sold home prices and the number of homes sold to those during the same time period in 2007 (January 1, 2008 - September 18, 2008) within 51 zip codes in the Austin area.  These Austin real estate statistics are shocking!

Let’s start with the great news.  Out of 51 zip codes that we tracked in the Austin area, 73% of them have increased in value when comparing sold

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Number of homes sold down in Austin but prices still high, nothing new

Friday, September 19th, 2008 at 8:21pm. 1,883 Views

I (Brian Talley) was quoted in today's Austin American-Statesman article entitled "Homes Sales Fall for 14th Month in a Row".  I was asked about why I believe home sales prices are still high while the number of homes sold is down (home sales volume is at the level it was at the bottom of the market in 2001).  You can read the article and my response by visiting the following link: http://www.statesman.com/business/content/business/stories/realestate/09/19/0919homesales.html.  Whatever the case, the fact that home prices are still high in Austin just goes to show that we live in city that is highly desirable with a fairly stable economy.  Not that Austin hasn't been hit hard and not that it can't get worse, but we have weathered the storm well compared to…

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Top 30 REALTORS® in Austin Texas by Number of Homes Sold in 2008

Thursday, September 18th, 2008 at 10:07pm. 7,162 Views

Find the updated report for Top REALTORS® in Austin 2010.

Top Austin REALTORS®: If you have been wondering who has been selling the most single-family homes in Austin Texas in 2008, you have come to the right place.  So far there have been 6,521 homes sold in Austin this year between January 1 and September 18, 2008 – these are homes sold within the city limits.  While the below 30 REALTORS® have sold an impressive 848 homes combined, this makes up only 7.7% of the homes sold in Austin so far this year.  Given this statistic, it is safe to say that no one REALTOR® has a lock on market share in Austin Texas for selling single-family homes.

It is important to note that the below REALTORS® do not all work alone or get their business in the traditional

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Ridge at Lantana Statistics September 2008

Friday, September 12th, 2008 at 4:44pm. 2,132 Views

While single family home prices in the Ridge at Lantana are still robust, overall median prices have reduced slightly by 3% and the number of resales are down 25% compared to 2007.  Homes willing to price competitively seem to be getting sold.

On Friday, September 12 there are 17 homes listed for sale and 4 homes pending sale in Lantana.  These homes have a median list price of $133.70 per square foot ($448,990), median of 3,502 square feet, and averaging 102 days on the market. The median list price is 7% higher than the median price of sold homes in Lantana so far this year, which is a reasonable spread compared to the overall Austin market.

Between January 1, 2008 and September 12, 2008 the Ridge at Lantana had 9 homes sell with a median sold price

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Austin Luxury Real Estate Statistics on Setember 10, 2008

Wednesday, September 10th, 2008 at 9:08pm. 2,403 Views

Austin luxury real estate is herein defined as single family homes priced over $1 million.  The number of luxury homes sold in Austin has been on the rise since 1999 when 56 luxury homes were sold.  Fast forward to 2007 and you will find that 276 luxury homes were sold, a 493% increase or an average increase of 62% per year since 1999.  So far in 2008 there have been 137 luxury homes sold in Austin, which puts us on track for there to be approximately 183 luxury homes sold during all of 2008.  While this is a 34% decline compared to 2007 and a 35% decline compared to 2006, it is still 8% higher than 2005 and 27% higher than 2004.  Austin luxury home prices are up 2.8% and the number of homes sold is down 34% when comparing 1/1/08-9/10/08 to the same

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Austin Texas Real Estate Statistics August 2008

Wednesday, September 3rd, 2008 at 6:01pm. 2,719 Views

If you pay attention, real estate market statistics tell a story.  Here is what the data from my August 2008 Austin real estate market update is saying:

1) Austin real estate home prices are still very robust.  While overall Austin home prices are down 1% when comparing August 2008 to August 2007, prices are up 27% since the market peak in the year 2000 from $90 per square foot to over $122 per square foot in 2008. 
2) Home sellers in Austin who price their home aggressively are getting deals done. The median list price for homes pending sale in Austin are 1% lower than the median sold price in Austin.  This is opposed to the fact that the median list price for all homes available for sale in Austin are priced 16% higher than Austin’s median sold

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