Recent statistics show the Austin market may have turned the corner. Sales are up now, five months in a row, and sales levels are the highest since June of last year. If this continues in August, which it looks like it will, then I think this market has headed back up. Other positive indications are that the price per square foot is higher than anytime since Sept.'08 and we now are in a Seller's market in prices ranges under $300K. Prices in the range of $300K-$500K are on the verge of becoming a Seller's market also. Only the homes above $500K in price remain as a solid Buyer's market.
The table below shows inventory levels for June of Austin homes in different price ranges.
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Inventory Levels Based on Home Price in the Austin Area for June 2009
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Home Prices
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Sales
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Listings
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June Inventory
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MayInventory
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100K-200K
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938
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3015
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3.2 months
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3.8 months
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200K-300K
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578
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2163
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3.7 months
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5.0 months
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300K-500K
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336
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2320
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6.9 months
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8.2 months
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500K-1M
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128
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1468
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11.5 months
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15.2 months
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