December 2009 Market Report: Austin area home sales up in December; 2009 year-end down slightly from 2008

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Austin Board of REALTORS® releases December 2009 and year-end real estate statistics

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According to the Multiple Listing Service report by the Austin Board of REALTORS®, the volume of Austin area home sales in December 2009 was 1,373, up five percent from the same month in 2008. The median price of real estate in the Austin area also showed an increase, up six percent from December 2008 to $194,000.

“We saw dramatic increases in sales volume in October and November 2009, which were presumably related to the original deadline for the first-time homebuyer tax credit,” explained John Horton, 2010 Chairman of the Austin Board of REALTORS®. “However, increases in sales volume beyond November and figures that have improved steadily throughout the year indicate that, while some demand was driven by the tax credit deadline, a sustainable recovery is also underway in the real estate market.”

Year-end real estate totals for 2009 showed improvement in sales volume and stability in home prices over the course of the year. In 2009, 19,005 homes were sold in the Austin area, a six percent decrease from 2008. The median price for the region in 2009 was $188,480, down one percent from 2008. The six percent decline in year-end home sales for Central Texas marks a significant improvement when compared to the double-digit decreases in home sales seen in the first quarter of 2009.

Mr. Horton summarized, “We’re seeing encouraging news from many sources that 2010 will be an improvement over 2009, and I think this report is one more indicator the outlook is beginning to brighten. As always, however, I urge consumers to base their decisions about buying and selling real estate on their own situation and goals. Talk to your Austin REALTOR® for advice on whether 2010 should be your year to buy a home or move up.”

December 2009 Statistics

  • $358,863,756 – Total dollar volume of single-family properties sold, an 11 percent increase from December 2008.
  • $194,000 – Median price for single-family homes, a six percent increase from December 2008.
  • 1,373 – Single-family homes sold, a five percent increase from December 2008.
  • 8,079 – Active single-family home listings on the market, a five percent decrease from December 2008.

2009 Year-End Totals

  • $4,612,315,236 – Total dollar volume of single-family properties sold, a nine percent decrease from 2008.
  • $188,480 – Median price for single-family homes, a one percent decrease from 2008.
  • 19,005 – Single-family homes sold, a six percent decrease from 2008.
  • 9,335 – Active single-family home listings on the market, a five percent decrease from 2008.

The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,000 licensed REALTORS® in Central Texas.  For more, please contact Angela Brutsché at 512-454-7636.

 

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