austin real estate market stats october 2010

8/8/2019 Austin Real Estate Market Stats October 2010

1/15

New Listings 2

Pending Sales 3

Residential Sales ReportOctober 2010What can we say that we haven't said before? Newspapers warn of

possible foreclosure moratoria, job growth is just barely in the black ink

and the midterm election cycle brought new leadership to Washington,

A free research tool from the Austin Board of REALTORSbrought to you by the unique data-sharing traditions of the REALTOR community

Closed Sales 4Days On Market Until Sale 5

Median Sales Price 6

Average Sales Price 7

Percent of Original List 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

. uyers are s arme w access o c eap oans an s rong

negotiating power. Recovery continues to crawl forward nationally; let's

take a look at what's happening locally amid all this news.

Pending Sales in the Austin region decreased by 15.2 percent from last

October to arrive at 1,560. New Listings decreased by 16.0 percent to

land at 2,534 and the overall inventory of 12,489 increased by 21.3

percent.

Prices were one bright spot last month, as the Median Sales Price

increased by 7.3 percent, registering in at $192,000. Buyers were still

able to negotiate, though, as Percent of Original List Price Received at

Sale decreased by 2.8 percent to 91.1 percent.

Private companies added jobs for the first time since May but enough to

lower the stubbornly high 9.6 percent unemployment rate. Our recovery is

moving at a sloth's pace, but at least it's moving forward. A stronger labor

market will drive new household formations and instill the confidence

needed for current homeowners to move up and for renters to consider

ownership.

A free research tool from the Austin Board of REALTORSbrought 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


2/15

New ListingsA Monthly Indicator from the Austin Board of REALTORS

3,082 3,017

2,534

2008 2009 2010

October

34,257 33,64635,588

2008 2009 2010

Year to Date

One YearChange:

- 16.0%

Two YearChange:

- 17.8%

One YearChange:

+ 5.8%

Two YearChange:

+ 3.9%

3,082 3,017

2,534

2008 2009 2010

October

34,257 33,64635,588

2008 2009 2010

Year to Date

One YearChange:

- 16.0%

Two YearChange:

- 17.8%

One YearChange:

+ 5.8%

Two YearChange:

+ 3.9%

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

Historical Market Activity

New Listings Pending Sales Closed Sales



3/15

Pending SalesA Monthly Indicator from the Austin Board of REALTORS

1,245

1,839

1,560

2008 2009 2010

April

20,09618,769

17,948

2008 2009 2010

January through April

1,245

1,839

1,560

October

20,09618,769

17,948

Year to Date

One YearChange:

- 15.2%

Two YearChange:

+ 25.3%

One YearChange:

- 4.4%

Two YearChange:

- 10.7%

1,245

1,839

1,560

2008 2009 2010

April

20,09618,769

17,948

2008 2009 2010


1,245

1,839

1,560

2008 2009 2010

October

20,09618,769

17,948

2008 2009 2010

Year to Date

One YearChange:

- 15.2%

Two YearChange:

+ 25.3%

One YearChange:

- 4.4%

Two YearChange:

- 10.7%

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000






4/15

Closed SalesA Monthly Indicator from the Austin Board of REALTORS

1,443

1,969

1,251

2008 2009 2010

April

19,933

17,64316,988

2008 2009 2010


1,443

1,969

1,251

October

19,933

17,64316,988

Year to Date

- 36.5%

One YearChange:

- 3.7%

Two YearChange:

- 14.8%

One YearChange:

Two YearChange:

- 13.3%

1,443

1,969

1,251

2008 2009 2010

April

19,933

17,64316,988

2008 2009 2010


1,443

1,969

1,251

2008 2009 2010

October

19,933

17,64316,988

2008 2009 2010

Year to Date

- 36.5%

One YearChange:

- 3.7%

Two YearChange:

- 14.8%

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500




One YearChange:

Two YearChange:

- 13.3%



5/15

Days on Market Until SaleA Monthly Indicator from the Austin Board of REALTORS

70 72

87

2008 2009 2010

April

66

7571

2008 2009 2010


70 72

87

2008 2009 2010

October

66

7571

2008 2009 2010

Year to Date

One YearChange:

+ 21.8%

Two YearChange:

+ 24.2%

One YearChange:

- 6.2%

Two YearChange:

+ 7.5%

70 72

87

2008 2009 2010

April

66

7571

2008 2009 2010


70 72

87

2008 2009 2010

October

66

7571

2008 2009 2010

Year to Date

One YearChange:

+ 21.8%

Two YearChange:

+ 24.2%

One YearChange:

- 6.2%

Two YearChange:

+ 7.5%

50

60

70

80

90


Historical Days on Market Until Sale



6/15

Median Sales PriceA Monthly Indicator from the Austin Board of REALTORS

$188,500$179,000

$192,000

2008 2009 2010

April

$188,820 $185,000 $189,000

2008 2009 2010


$188,500$179,000

$192,000

October

$188,820 $185,000 $189,000

Year to Date

One YearChange:

+ 7.3%

Two YearChange:

+ 1.9%

One YearChange:

+ 2.2%

Two YearChange:

+ 0.1%

Figures do not take into account seller concessions.

$188,500$179,000

$192,000

2008 2009 2010

April

$188,820 $185,000 $189,000

2008 2009 2010


$188,500$179,000

$192,000

2008 2009 2010

October

$188,820 $185,000 $189,000

2008 2009 2010

Year to Date

One YearChange:

+ 7.3%

Two YearChange:

+ 1.9%

One YearChange:

+ 2.2%

Two YearChange:

+ 0.1%

$140,000

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000


Historical Median Prices




7/15

Average Sales PriceA Monthly Indicator from the Austin Board of REALTORS

$239,678$232,275

$257,771

2008 2009 2010

April

$244,934$236,019

$246,043

2008 2009 2010


$239,678$232,275

$257,771

October

$244,934$236,019

$246,043

Year to Date

One YearChange:

+ 11.0%

Two YearChange:

+ 7.5%

One YearChange:

+ 4.2%

Two YearChange:

+ 0.5%


$239,678$232,275

$257,771

2008 2009 2010

April

$244,934$236,019

$246,043

2008 2009 2010


$239,678$232,275

$257,771

2008 2009 2010

October

$244,934$236,019

$246,043

2008 2009 2010

Year to Date

One YearChange:

+ 11.0%

Two YearChange:

+ 7.5%

One YearChange:

+ 4.2%

Two YearChange:

+ 0.5%

$175,000

$200,000

$225,000

$250,000

$275,000

$300,000


Historical Average Prices




8/15

Percent of Original List Price Received at SaleA Monthly Indicator from the Austin Board of REALTORS

92.9%93.8%

91.1%

2008 2009 2010

October

94.6%

93.3% 93.6%

2008 2009 2010

Year to Date

One YearChange:

+ 0.3%Two YearChange:

- 1.1%

The Percent of Original List Price Received at Sale is calculated bycomparing the final sales prices of closed sales to their original list prices.

This does not account for list prices from any previous listing contracts. Thesales price does not account for seller concessions.

One YearChange:

Two YearChange:

- 2.8%

- 1.9%

92.9%93.8%

91.1%

2008 2009 2010

October

94.6%

93.3% 93.6%

2008 2009 2010

Year to Date

One YearChange:

+ 0.3%Two YearChange:

- 1.1%

80.0%

85.0%

90.0%

95.0%

100.0%

Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

Historical Percent of Original List Price Received at Sale

The Percent of Original List Price Received at Sale is calculated bycomparing the final sales prices of closed sales to their original list prices.

This does not account for list prices from any previous listing contracts. Thesales price does not account for seller concessions.

One YearChange:

Two YearChange:

- 2.8%

- 1.9%



9/15

Housing Affordability IndexA Monthly Indicator from the Austin Board of REALTORS

134

159

137

2008 2009 2010

April

134

159

137

October

One YearChange:

- 13.6%

Two YearChange:

+ 2.7%

The HAI formula measures housing affordability for the Austin Housing Market. An HAI of120 means the median family income is 120% of the necessary income to qualify for themedian priced home using a 20% down, 30-year fixed rate mortgage.

134

159

137

2008 2009 2010

April

134

159

137

2008 2009 2010

October

One YearChange:

- 13.6%

Two YearChange:

+ 2.7%

120

130

140

150

160

170

180


Historical Housing Affordability Index

The HAI formula measures housing affordability for the Austin Housing Market. An HAI of120 means the median family income is 120% of the necessary income to qualify for themedian priced home using a 20% down, 30-year fixed rate mortgage.



10/15

Housing Supply OutlookA Monthly Indicator from the Austin Board of REALTORS

Inventory of Active Listings

1,574

2,352 2,3872,238

1,359

947

368 300 296 287117 48

Up to $125,000 $125,001 to$175,000

$175,001 to$250,000

$250,001 to$400,000

$400,001 to$750,000

$750,001 andabove

Single-Family Condo-Townhouse9,519

1,1631,338

253

Single-Family Condo-Townhouse

Previously Owned

New Construction

Months Supply of Inventory

A market is considered balanced between buyers and sellers when there is roughly a 5- to 6-month supply of homes available for purchase.

7.5 7.4

8.4

6.96.5

10.0

7.4 7.2

8.7

All Single-Family Condo-Townhouse

Previously Owned

New Construction

All

1,574

2,352 2,3872,238

1,359

947

368 300 296 287117 48

Up to $125,000 $125,001 to$175,000

$175,001 to$250,000

$250,001 to$400,000

$400,001 to$750,000

$750,001 andabove

Single-Family Condo-Townhouse9,519

1,1631,338

253

Single-Family Condo-Townhouse

Previously Owned

New Construction

6.4 6.2 6.8 7.08.8

20.3

7.2 7.18.7

11.613.2

28.8

6.6 6.3 6.97.3

9.0

20.6

Up to $125,000 $125,001 to$175,000

$175,001 to$250,000

$250,001 to$400,000

$400,001 andabove

$750,001 andabove

Single-Family

Condo-Townhouse

All



11/15


Under $125,000Inventory Months Supply

1,864

1,506

358

78 6810

All Sin le-Famil Condo-Townhouse

Previously Owned

New Construction

6.5 6.4

7.47.9

9.1

4.1


Previously Owned

New Construction

$125,001 to $175,000Inventory Months Supply

1,864

1,506

358

78 6810


Previously Owned

New Construction

6.5 6.4

7.47.9

9.1

4.1


Previously Owned

New Construction

2,306

2,051

255346 301

45


Previously Owned

New Construction

6.4 6.3

7.4

5.6 5.7 5.5


Previously Owned

New Construction



12/15



2,301

2,066

235382 321

61


Previously Owned

New Construction

7.2 7.1

8.3

5.65.1

10.5


Previously Owned

New Construction


2,301

2,066

235382 321

61


Previously Owned

New Construction

7.2 7.1

8.3

5.65.1

10.5


Previously Owned

New Construction

2,131

1,931

200

394307

87


Previously Owned

New Construction

7.4 7.1

11.3

6.76.0

12.3


Previously Owned

New Construction



13/15



1,2371,150

87

239 209

30


Previously Owned

New Construction

9.0 8.8

12.1

8.98.3

18.0


Previously Owned

New Construction

$750,001 and aboveInventory Months Supply

1,2371,150

87

239 209

30


Previously Owned

New Construction

9.0 8.8

12.1

8.98.3

18.0


Previously Owned

New Construction

843815

28

152 132

20


Previously Owned

New Construction

19.6 19.7

16.8

29.4

25.5

0.0


Previously Owned

New Construction



14/15

Market OverviewA Monthly Indicator from the Austin Board of REALTORS

This Year Last YearPercent

Change

5-Year

Average

This Year

Year-to-

Date

Last Year

Year-to-

Date

Percent

Change

5-Year

Year-to-

Date

Average

Aug 2,980 3,281 - 9.2% 3,563 30,371 27,610 + 10.0% 30,059

Sep 2,683 3,019 - 11.1% 3,070 33,054 30,629 + 7.9% 33,129

Oct 2,534 3,017 - 16.0% 3,132 35,588 33,646 + 5.8% 36,261

Pending Sales Aug 1,569 2,045 - 23.3% 2,103 14,929 15,008 - 0.5% 17,989Sep 1,459 1,922 - 24.1% 1,750 16,388 16,930 - 3.2% 19,739

Oct 1,560 1,839 - 15.2% 1,774 17,948 18,769 - 4.4% 21,513

Closed Sales Aug 1,673 1,975 - 15.3% 2,357 14,360 13,715 + 4.7% 17,248

Sep 1,377 1,959 - 29.7% 1,950 15,737 15,674 + 0.4% 19,198

Oct 1,251 1,969 - 36.5% 1,791 16,988 17,643 - 3.7% 20,989

Days on Market Until Sale Aug 72 73 - 1.6% 64 69 77 - 10.7% 65

Sep 77 69 + 12.5% 64 69 76 - 8.5% 65

October 2010

New Listings

Oct 87 72 + 21.8% 71 71 75 - 6.2% 65

Median Sales Price Aug $195,000 $185,370 + 5.2% $188,417 $189,000 $186,500 + 1.3% $184,080

Sep $190,300 $183,000 + 4.0% $180,362 $189,000 $186,000 + 1.6% $183,574

Oct $192,000 $179,000 + 7.3% $182,853 $189,000 $185,000 + 2.2% $183,369

Average Sales Price Aug $257,797 $235,928 + 9.3% $246,770 $245,260 $236,710 + 3.6% $240,920

Sep $243,558 $234,946 + 3.7% $238,362 $245,111 $236,489 + 3.6% $240,642

Oct $257,771 $232,275 + 11.0% $239,332 $246,043 $236,019 + 4.2% $240,499

Total Active Listings Available Aug 13,706 10,940 + 25.3%

Sep 13,313 10,486 + 27.0% -- -- -- -- --

Oct 12,489 10,300 + 21.3%Aug 92.4% 94.1% - 1.8% 94.7% 94.7% 93.2% + 1.7% 93.9%

Sep 91.8% 94.0% - 2.3% 94.3% 94.3% 93.3% + 1.1% 93.7%

Oct 91.1% 93.8% - 2.8% 93.7% 93.7% 93.3% + 0.4% 93.6%

Housing Affordability Index Aug 135 152 - 11.0% 139

Sep 138 156 - 11.3% 146 -- -- -- --

Oct 137 159 - 13.6% 145

Months Supply of Inventory Aug 7.8 6.5 - 11.0%

Sep 7.8 6.1 - 11.3% -- -- -- -- --Oct 7.4 5.9 - 13.6%

Percent of Original List

Price Received at Sale



15/15

Annual ReviewA free research tool from the Austin Board of REALTORS

26,891

30,293

28,051

96.3% 96.8% 96.1%

April

$160,000$171,500

$184,000

96.3% 96.8% 96.1%


26,891

30,293

28,051

22,43720,905

Closed Sales

67

59 57

67

76Days on Market Until Sale

+ 12.7% - 7.4% - 20.0% - 12.8% - 2.4% + 17.1%- 6.8% + 12.5%

26,891

30,293

28,051

96.3% 96.8% 96.1%

April

$160,000$171,500

$184,000

96.3% 96.8% 96.1%


26,891

30,293

28,051

22,43720,905

2005 2006 2007 2008 2009

Closed Sales

67

59 57

67

76

2005 2006 2007 2008 2009

Days on Market Until Sale

$160,000$171,500

$184,000 $187,500 $185,000

2005 2006 2007 2008 2009

Median Sales Price

96.3%96.8%

96.1%

94.3%

93.4%

2005 2006 2007 2008 2009

Percent of Original List Price Received at Sale

+ 12.7% - 7.4% - 20.0% - 12.8% - 2.4% + 17.1%

+ 7.2% + 7.3% + 1.9%+ 0.5% - 0.7% - 1.8%

- 6.8% + 12.5%

- 1.3%- 1.0%


austin real estate market stats october 2010

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