November 2010 Market Report: Austin area real estate maintains sales volume trends, price stability

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Austin Board of REALTORS® Releases November 2010 Real Estate Statistics

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According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, the Austin real estate market continues the trends seen in recent months as the year begins to come to a close.

The volume of Austin area home sales in November 2010 was 1,243, down 20 percent from the same month in 2009. Year-to-date, 16,477 homes have been sold, down only six percent compared to the same time period in 2009.

Austin real estate also continued to hold value. For November 2010, the median price for single-family properties was $184,000, up three percent from November 2009. Year-to-date, the median price is $194,000, also up three percent from 2009.

Homes spent an average of 90 days on the market in November 2010, 17 percent longer than in November 2009. Year-to-date figures show that overall homes have spent four percent fewer days on the market than in 2009.

“As has been the case for much of 2010, year-to-date figures paint a clearer picture of market conditions than month-to-month comparisons,” said John Horton, Chairman of the Austin Board of REALTORS®. “That’s particularly true this month because we’re comparing results to a month in 2009 when the original homebuyer tax credits were set to expire, before a last-minute decision extended them through the first part of 2010.”

He continued, “Despite the fluctuations created by the tax credits in 2009 and 2010, Austin’s real estate market has remained stable. Austin homes are holding their value—even slightly increasing—and year-to-date, they have sold more quickly than in 2009.”

November 2010 Statistics

  • $311,567,894 – Total dollar volume of single-family properties sold, down 16 percent from November 2009
  • $184,000 – Median price for single-family homes, up three percent from November 2009
  • 1,243 – Single-family homes sold, down 20 percent from November 2009
  • 90 – Days on market, up 17 percent from November 2009
  • 8,741 – Active single-family home listings on the market, up two percent from November 2009
  • 1,260 – Pending sales for single-family homes, up two percent from November 2009

Year-to-Date 2010 Statistics

  • $4,180,249,992 – Total dollar volume of single-family properties sold, down one percent from 2009
  • $194,000 – Median price for single-family homes, up three percent from 2009
  • 16,477 – Single-family homes sold, down six percent from 2009
  • 76 – Days on market, down four percent from 2009
  • 10,337 – Active single-family home listings on the market, up nine percent from 2009
  • 18,495 – Pending sales for single-family homes, down six percent from 2009

The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,000 licensed REALTORS® in Central Texas. Visit AustinHomeSearch.com, a public resource on Austin real estate, for the latest news on the local housing market. For more information, please contact Angela Brutsché at 512-454-7636.

 

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