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Thursday, June 25, 2009

Austin's Real Estate Market May 2009

How's the real estate market in Austin, TX? Well, it could be better, though it is better than other parts of the country. Austin residential unit sales are down 22% this May compared to May 2008. In Lakeway or residential sales under Lake Travis ISD, sales are down 20% compared to last May.

Alamo Title reports that new listings are down 30.65% compared to last May. As for average prices in Austin, Alamo Title also reports that the "New Listings" average list price is up 12.11% to 355,139. In May 2008 the average list price was $316,768. Sold average sales prices decreased 3.35% to $250,014. For May 2008 it was $258,675.

The statistics reported below have been obtained from the Austin Board of Realtors and have not been confirmed. Pearl Jones nor Keller Williams Realty is not responsible for the inaccuracy of this report.