May 2009 Market Statistics: Austin real estate market continues to gain momentum in 2009

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Austin Board of REALTORS® releases May 2009 real estate statistics

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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.”

Local homeowners will gather this month to learn more about homeownership in the local market at Here & Now: Facts About Homeownership in Central Texas on Saturday, June 27 from 10 a.m. to noon. A free educational event open to the public, Here & Now will provide homeowners the facts to make informed decisions about buying and selling real estate in Central Texas.

Presenters will include industry experts who can provide an in-depth look at the Central Texas market, explain recent changes to mortgage lending in Texas and discuss the green energy incentives available to Austin-area homeowners. In addition, Kendra Todd, national real estate expert and host of HGTV’s My House is Worth What?, will provide guidance on home upgrades to increase home value. To learn more, visit AustinHomeSearch.com.

May 2009 Statistics

  • $432,908,856 was the dollar volume of single-family properties sold
  • $193,000 was the median price, a one percent decrease from May 2008
  • 1,707 was the number of homes sold, an 19 percent decrease compared to May 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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