2008 Austin Texas Real Estate Home Sales Still Slow

Since January 1^st of this year 1,214 homes have sold and 342 homes have been withdrawn from the market in Austin, a 32% decline and 47% increase respectively from the same period last year.  With that said, the median price for homes sold during the same period in 2007 was $120 per square foot with an average 58 days on the market.  During the same period in 2008 the median home prices have risen slightly by 2.6% to $122 per square foot with an average of 69 days on the market. 

So sales continue to be slow and listing prices have remained high.  The home builders continue to price their homes competitively.  Although I remain strongly optimistic about the future value of the homes in Austin, it looks like we are going to have to endure a slow market for a while.   If you need to sell your home and are not already working with a realtor, give me a call and I’ll be sure you are in the best position possible to get your home sold quickly and for maximum dollar. 

Source: Austin Board of Realtors