Central Texas real estate sales volume down, but home prices show modest increase

Austin Board of REALTORS® releases February 2009 real estate statistics

March 19, 2009 -According to the February 2009 Multiple Listing Service report by the Austin Board of REALTORS® (ABoR), the Austin-area home sales volume remains down year-over-year, but home prices have risen compared to February 2008.

The median price of a single-family home in Central Texas was $189,900, up five percent from February 2008. There were 1,116 single-family homes sold in February 2009, a 28 percent decrease as compared to one year ago. Collectively, sales in February 2009 contributed $271,048,500 to the local economy.

“These statistics demonstrate how Austin-area home prices have held steady and continue to appreciate, despite volatile credit markets and difficult conditions in other states,” explained ABoR Chairman Jay Gohil. “Compared to last month, we’re seeing the year-over-year gap begin to close on sales volume and hope consumer confidence will continue to rise to further spur the market.”

February 2009 – Single Family Homes

• $271,048,500 was the total dollar volume of homes sold  
• $189,900 was the median price, a five percent increase from February 2008  
• 1,116  was the number of homes sold, a 28 percent decrease from one year ago