March 2009 - Residential Sales Statistics

Once again, residential sales in Austin have dropped 31% in March 2009 compared to last March (using units sold). In Lakeway, specifically all homes under Lake Travis ISD, residential sales are down 17% compared to last March. Though these numbers don't sound so great, looking at the charts below, we are at an upward trend for the season as we approach spring/summer when sales are usually higher. Hope this trend continues to grow upwards as the interest rates continue to stay low (currently 4.875% 30 year fixed).

This information has been obtained from the Austin Board of Realtors and has not been verified.

Austin home sales getting stronger?

Austin Business Journal reported on June 20th 2006 that Austin's home market is gaining strength. Rather than restating the article, I would rather append the article in here:

"It's showing signs of a possible rebound, but the Austin home market remains sluggish.

Single-family home sales in the metro area totaled 2,154 in May, down 20 percent compared with May 2007, according to data from the Austin Board of Realtors. However, the May figure is the highest number of total sales the area has experienced in eight months.

Austin is not seeing the drastic price drops that many other markets around the country have experienced. The average price for a single-family home stood at $263,151 in May, up 5 percent from a year ago." Read more

I took a peek at June's statistics, though premature, the Austin residential sales in June are struggling. Let's wait until July when the realtors are done entering their sales in the system. I just truly hope that the sales are no worse than -20% compared to last June. Urggh. Already I have seen sloooow amount of showings in my listings though the price reductions, and extra marketing. I just sure hope that ABJ is right in projecting stronger coming months.

Ready for May's Austin Real Estate Stats?

Another disappointing month is behind us. Austin Residential sales is down 25% compared to last May. Per Alamo Title, "Sold average sales prices increased 4.89% to $257,618. For May 2007 it was $245,616." This means that homes are still appreciating. Whew!
As far as Lake South stats, which includes all areas under Lake Travis ISD, residential sales are down 18% compared to last May. That's pretty high considering, May is one of our peak real estate sales months. I have attached the graphs for your reference.
NOTE: The information herein has been obtained from Alamo Title Company and Austin Board of Realtors and have not been verified. The first graph has been provided dby Alamo Title Company.