Austin-area real estate market shows improvement over last year
Austin Board of REALTORS® releases September 2009 real estate statistics
October 19, 2009 - According to the September 2009 Multiple Listing Service report by the Austin Board of REALTORS®, activity in the Austin-area real estate market has shown signs of improvement from September 2008.
In September 2009, 1,780 homes were sold, a six percent increase from 1,673 homes sold in September 2008. The median home price for Austin in September 2009 was $185,250, up two percent from the same month the prior year.
According to the report, the average median home price in the third quarter of 2009 is statistically similar to that of the third quarter of 2008. In addition, the third quarter of 2009 represented the highest quarterly average for home sales this year. There was an average of 1,857 homes sold during the third quarter of 2009, a 3 percent decrease compared to the third quarter of 2008 which averaged approximately 1,912 homes sold.
[Robert Powell: Although the six percent increase in sales appears strong on face value, we must remember that it was this time last year that our financial markets came to a screaching halt due to the collapse of Lehman Brothers on Sept. 15, 2008 and the resulting temporary freezing of money by the banks. This makes it difficult to meaningfully compare September sales of this year to last year.]
September 2009 Statistics
- $431,530,740 was the dollar volume of single-family properties sold, a seven percent increase from September 2008.
- $185,250 was the median price for single-family homes, a two percent increase from September 2008.
- 9,148 was the number of active single-family home listings on the market, a ten percent decrease from September 2008.
- 1,780 was the number of single-family homes sold, a six percent increase from September 2008.
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