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Austin Texas Real Estate Statistics 2009

published on January 11, 2010

Austin home sales during 2009 seemed to have stabilized moving into 2010 with only slight decreases in sold prices and number of homes sold during 2009 compared to 2008. It took 15% longer to sell an Austin home, but the number of homes available to sell decreased by 10%. This decrease in supply may help increase buyer demand for existing homes for sale on a per home basis moving forward.  During the first 4 months of 2010 we have the first-time home buyer tax credit of up to $8,000 and the $6,500 credit to current home owners purchasing a new or existing home for those occupying their home for 5 consecutive years of the last 8 years, which should continue to bolster the market moving into the hot sales season this summer. Look for a fairly steady residential real estate market during 2010.
Market Snapshot
(2009 compared to 2008)
Austin Overall:
• 2.4% decrease in the number of single-family homes sold
• 3% decrease in median single-family sold price per square foot
• 3.3% decrease in median sold price (total dollars)
• 15.3% increase in the time it is taking to sell a home
• 2.8% decrease in withdrawals
• 10% decrease in supply
Sold:  As of 1/11/10 there were 8,378 homes sold in Austin Texas during 2009 compared to 8,586 during the same period of time in 2008 (2.4% decrease).  Overall home prices (per square foot) have decreased 3% during 2009, with a median sold price of $117.35 per square foot ($232,000) in 2009 compared to $121.04 per square foot ($239,850) in 2008.  In 2009 these sold homes have averaged 68 days on the market compared to 59 days on the market in 2008, which shows there was a 15.3% increase in the time it is taking to sell a home in 2009 compared to 2008.
Active: There are 2,971 single-family homes actively for sale within the city limits of Austin Texas as of 1/10/10, which is a 9% decrease from the 3,269 single-family homes for sale on 12/3/09.  These homes average 110 days on the market with a median list price of $140.04 per square foot ($299,960).  
Pending Sale: There are 606 houses pending sale in Austin as of 1/11/10, which is 19.6% less than a month ago when there were 754 houses pending sale on 12/3/09.   These 606 homes average 73 days on the market with a median price of $115.47 per square foot ($229,900), which is a list price 1.6% less than the median sold price per square foot in Austin during 2009.
Withdrawn: There were 3820 single-family homes withdrawn from the Austin Texas real estate market during 2009 compared to 3929 homes during the same period of time during 2008, which is a 2.8% decrease in withdrawals.  The homes withdrawn in 2009 averaged 118 days on the market and were listed for sale with a median price of $142.70 per square foot ($329,900). This compares to an average of 105 days on the market with a median price of $146.79 per square foot ($325,000) for homes withdrawn from the market during 2008.

Source: The raw data in this report was provided by the Austin Board of REALTORS® but interpreted by Austin Realtor® Brian Talley of Regent Property Group.  The information contained herein is subject to errors, omissions and changes without notice.  Any information, statistics, analytics, recommendations or opinions provided in this report are subject to errors and/or omissions and are not in any way guaranteed as accurate or reliable by Brian Talley or by Regent Property Group LLC.

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