December 2010 Market Report: Austin area home sales up in December; 2010 year-end down slightly from 2009

Austin Board of REALTORS® releases December 2010 and year-end real estate statistics

Sales of single-family homes in the Austin area were six percent higher in December 2010 than December 2009 with 1,442 homes sold, according to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®.

In the same time period, the median price in Austin was $191,760, the same as December 2009; and homes spent an average of 98 days on the market, 13 percent longer than December 2009. In December 2010, pending sales were up three percent compared to December 2009, indicating stronger demand leading into January than this time last year.

“With stable prices, stronger sales volume and more pending sales this month compared to last year, we’re encouraged that the housing market recovery in Austin is continuing,” said Judith Bundschuh, 2011 Chairman of the Austin Board of REALTORS®.

The report also included 2010 year-end real estate totals. In 2010, 17,905 homes were sold in the Austin area, five percent fewer than in 2009; the median price in Austin was $193,520, up two percent from 2009; homes spent an average of 77 days on the market, two percent less than 2009; and active listings were 10,158, nine percent more than in 2009.

Chairman Bundschuh continued, “Over the course of the year, slightly fewer homes were sold in 2010 than in 2009. In that time, however, prices in Austin remained stable and homes sold at a pace consistent with 2009, despite a larger inventory. Those factors bode well for the long-term future of Austin real estate.”

December 2010 Statistics

• $358,795,556 – Total dollar volume of single-family properties sold, two percent more than December 2009
• $191,760 – Median price for single-family homes, unchanged from December 2009
• 1,442 – Single-family homes sold, six percent more than December 2009
• 98 – Days on market, 13 percent longer than December 2009
• 8,182 – Active single-family home listings on the market, one percent more than December 2009
• 1,102 – Pending sales for single-family homes, three percent more than December 2009

2010 Year-End Totals

• $4,532,666,492 – Total dollar volume of single-family properties sold, one percent less than 2009
• $193,520 – Median price for single-family homes, up two percent from 2009
• 17,905 – Single-family homes sold, five percent fewer than 2009
• 77 – Days on market, two percent shorter than 2009
• 10,158 – Active single-family home listings on the market, nine percent more than 2009
• 19,597 – Pending sales for single-family homes, five percent less than 2009

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The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,500 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.