july 2010 market statistics - austin real estate

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New Listings 2 Pending Sales 3 Residential Sales Report July 2010 “Recovery loses steam.” “Housing demand in a slump.” “Tax credit leaves mess in its wake.” We’re bombarded with headlines like these every day. Some have merit, some don’t. The truth is, the A free research tool from the Austin Board of REALTORS® brought to you by the unique data-sharing traditions of the REALTOR® community Closed Sales 4 Days On Market Until Sale 5 Median Sales Price 6 Average Sales Price 7 Percent of Original Li st Price Received at Sale 8 Housing Affordability Index 9 Housing Supply Outlook All Residential Properties 10 Under $125,000 and $125,001 to $175,000 11 $175,001 to $250,000 and $250,001 to $400,000 12 $400,001 to $750,000 and $750,001 and above 13 Market Overview 14 Annual Review 15 economy s now r v ng t e ous ng mar et an not v ce versa. Pending Sales in the Austin region dropped by 14.6 percent from last July to arrive at 1,783. New Listings dropped a slight 0.4 percent since last July while overall inventory increased by 27.0 percent over last year to end the month with 14,545 homes available for sale. Median Sales Price jumped 15.0 percent over last July to arrive at $215,000 yet buyers were only willing to pay 93.2 percent of a seller's asking price. Market times did decline by 3.7 percent to land at 70 days compared to last year. Months Supply of Inventory decreased 16.5 percent to arrive at 8.0 months, given current demand. In sum, the housing market is trying to hold its ground until the job situation improves. Only after widespread, private-sector hiring will demand be restored to the market and prices can continue to stabilize. Until then, it’s a hurry up and wait game. A free research tool from the Austin Board of REALTORS® brought to you by the unique data-sharing traditions of the REALTOR® community All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 1 Team Price Real Estate | http://www.teamprice.com

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