Austin Unemployment & Austin Real Estate Market Update August 2010

The Austin unemployment rate (Austin-Round Rock-San Marcos) decreased slightly from 7.3% to 7.2% in August 2010 with 1,100 more people employed in Austin-Round Rock-San Marcos in August 2010 than the previous month due to a decrease in the Civilian Labor Force by 100 people and a decrease in those unemployed of 1,200.  In comparison, during the same time period the State of Texas unemployment rate decreased slightly from 8.5% in July 2010 to 8.4% in August 2010.  The United States unemployment rate decreased from 9.7% in July 2010 to 9.5% in August 2010. Austin-Round Rock-San Marcos unemployment rate continues to be much lower than the National Average.

Between January 1st and September 20^th 2010 there were 5,968 single-family homes sold within the Austin city limits with a median sold price of $120.65 per square foot ($245,000), and averaging 62 days on the market. This is a 1.2% decrease in the number of homes sold and a 3.3% increase in the median sold price per square foot compared to the same time period in 2009.  During the same time period in 2009 there were 6,038 homes sold with a median sold price of $116.77 per square foot ($233,500), and averaging 68 days on the market.   

Bank rates for a 30 year fixed mortgage remain very low at 4.37% as of 8/16/10 according to www.freddiemac.com. With mortgage rates at all time lows and the low median price of $245,000 there are plenty of reasons to buy an Austin home immediately.

Click here for an Austin home search.  Contact Brian Talley at 512-554-9714 if you need help buying or selling an Austin home or if you have a need for Austin Texas office space.