Austin real estate market continues to gain momentum in 2009

Austin Board of REALTORS® releases May 2009 real estate statistics

June 19, 2009 - According to the May 2009 Multiple Listing Service report by the Austin Board of REALTORS®, the volume of single-family home sales in May 2009 was 1,707, down 19 percent from May 2008, and the median price was $193,000, down one percent over the same time period.

Jay Gohil, Chairman of the Austin Board of REALTORS®, explained, “Sales volume and home prices in the Central Texas area are gaining momentum from the beginning of the year. This continues because of low mortgage rates and a healthy inventory in the market.”

Unlike the national real estate market, the average sale price for single-family homes in Austin is up $22,450 from the beginning of the year, while median sales price is up $17,500 (April 2009 compared to January 2009).

Chairman Gohil continued, “While we still aren’t completely out of the water, we’re starting to dry off. Factors such as the local economy and job growth are promising for both sellers and buyers. In this market, it’s all about finding what’s best for you.”