December and January Austin Real Estate Statistics

Hello all and a very Happy New Year!

Below are some recent statistics that we thought you all might find useful. Please let us know your thoughts and comment on the current state of the Austin real estate market. One thing we are emphasizing with all buyers and sellers is the following:

Buyers - Even though there are more listings on the market currently than there were a year ago at this time home prices are up over the same time period.

Sellers - Yes, prices are up however, there is more inventory, which means more competion and buyers are not snapping up the homes as quickly (partly because prices are up). So, we urge you all to price your homes realistically, appropriately, competitively and in such a way that you are able to receive the most money for your home in the least amount of time.

That being said . . . we had 7,736 active listings during the same week in 2006? Today there are 9,590 active listings! That is a 23.97% increase from 2006.

The Week in Review: December 23 - December 29, 2007 (compared to the same week in 2006)
- New listings up 24.49%
- Pendings are down 45.32%
- Solds down 37.17%

As for Average Prices: Dec. 23 - Dec. 29, 2007 (compared to the same week in 2006)
- The "New Listings" average list price increased 16.75% to $307,420. In 2006 the new listing average list price was 263,310.
- Sold average sales prices increased 18.91% to $282,679.
- In 2006 it was $237,733for the same week.

The Month in Review - December 2007

Units for Sale: (compared to the same month in 2006)
- New listings are up by 35.91%.
- Pendings are down 43.09%.
- Solds decreased by 27..28%.

As for Average Prices:
- The "New Listings" average list price is up 8.61% to 294,316.
- Sold average sales prices increased 7.90% to $252,417 compared to $233,939 in 2006.

Thanks for your participation in our Blog and please send your comments and feedback!