austin residential sales report april 2011

8/6/2019 Austin Residential Sales Report April 2011

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Residential Sales ReportA RESEARCH TOOL PROVIDED BY THEAUSTIN BOARD OF REALTORS

April 2011 Quick Facts

+ 2.7%Change in

Median Sales Price

The final month of year-over-year comparison to last year's tax incentive market

is upon us. It bears repeating that April 2010 enjoyed uniquely strong activity

due to the approaching credit deadline. The fact that there is some positive

news in the mix suggests that recovery is under way. Let's see how this pivotal

month played out locally.

New Listings in the Austin region decreased 24.5 percent to 3,746. Pending

- 14.1%

Change in

Inventory

- 22.4%

Change in

Closed Sales

Market Overview 2

New Listings 3

Pending Sales 4

Closed Sales 5

Days On Market Until Sale 6

Median Sales Price 7

Average Sales Price 8

9

Housing Affordability Index 10

Inventory of Homes for Sale 11

Months Supply of Inventory 12

All data comes from the ABOR Multiple Listing Service. Powered by 10K Research and Marketing. | 1

Click on desired metric to jump to that page.

Sales were down 19.6 percent to 2,311. Inventory levels shrank 14.1 percent to11,251 units a positive trend that should preserve market balance.

Prices were more or less stable. The Median Sales Price increased 2.7 percent

to $190,000. Days on Market increased 22.8 percent to 82 days. The supply-

demand balance improved as Months Supply of Inventory was down 2.6

percent to 6.9 months.

Nationally, the interest rate is 5.0 percent on a 30-year fixed conventional andthe unemployment rate edged up to 9.0 percent in April, even as the economy

added 244,000 jobs. Job seekers showed more confidence, a potential

indicator of future housing demand. Moving forward, expect a different story to

unfold in our market. We'll soon be comparing current activity to a post-credit

slump that occurred during the summer and fall of 2010.

Percent of List Price Received


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Market OverviewKey market metrics for the current month and year-to-date.

Key Metrics Historical Sparklines 4-2010 4-2011 + / YTD 2010 YTD 2011 + /

5,765 - 11.6%

66 82Days on Market Until Sale

2,252 1,747 - 22.4% 6,519

New Listings

Pending Sales

Closed Sales

- 20.0%

2,873 2,311 - 19.6% 8,575 7,498 - 12.6%

13,1634,960 3,746 - 24.5% 16,450

+ 22.8% 70 88 + 25.7%

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

154

13,092

170 + 7.3%

--

$230,801 $247,491 + 7.2%

$185,000 $190,000

$263,430 + 15.2%

94.8% 93.4%

Housing Affordability Index

Median Sales Price

Average Sales Price

Percent of Original

List Price Received

$228,668

+ 2.7% $179,900 $185,500

- 1.7%

+ 3.1%

- 1.4% 94.2% 92.6%

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS. Powered by 10K Research and Marketing. | Click for CoverPage | 2

7.1

166 + 7.6%

- 14.1%

- 2.6%

11,251

6.9

158

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011

4-2008 4-2009 4-2010 4-2011


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New ListingsA count of the properties that have been newly listed on the market in a given month.

Month

Prior

Year

Current

Year+ /

May 3,472 3,464 -0.2%

June 3,646 3,797 +4.1%

July 3,689 3,675 -0.4%

August 3,279 2,978 -9.2%

September 3,015 2,683 -11.0%

October 3,015 2,542 -15.7%

November 2,483 2,082 -16.1%

December 1,969 1,794 -8.9%

January 3,318 2,783 -16.1%

February 3,493 2,667 -23.6%

March 4,679 3,967 -15.2%

April 4,960 3,746 -24.5%

3,627

4,960

3,746

2009 2010 2011

April

13,498

16,450

13,163

2009 2010 2011

Year To Date

-20.0%+36.8% -24.5% +21.9%

12-Month Avg 3,418 3,015 -11.8%


3,627

4,960

3,746

2009 2010 2011

April

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical New Listing Activity

13,498

16,450

13,163

2009 2010 2011

Year To Date

-20.0%+36.8% -24.5% +21.9%


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Pending SalesA count of the properties on which contracts have been accepted in a given month.

Month

Prior

Year

Current

Year+ /

May 2,184 1,445 -33.8%

June 2,150 1,662 -22.7%

July 2,086 1,643 -21.2%

August 2,045 1,530 -25.2%

September 1,922 1,399 -27.2%

October 1,839 1,425 -22.5%

November 1,251 1,292 +3.3%

December 1,108 1,169 +5.5%

January 1,479 1,465 -0.9%

February 1,795 1,597 -11.0%

March 2,428 2,125 -12.5%

April 2,873 2,311 -19.6%

1,951

2,873

2,311

2009 2010 2011

April

6,544

8,575

7,498

2009 2010 2011

Year To Date

-12.6%+47.3% -19.6% +31.0%

12-Month Avg 1,930 1,589 -17.7%


1,951

2,873

2,311

2009 2010 2011

April

1,000

1,500

2,000

2,500

3,000

3,500

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Pending Sales Activity

6,544

8,575

7,498

2009 2010 2011

Year To Date

-12.6%+47.3% -19.6% +31.0%


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Closed SalesA count of the actual sales that have closed in a given month.

Month

Prior

Year

Current

Year+ /

May 1,868 2,307 +23.5%

June 2,272 2,211 -2.7%

July 2,285 1,654 -27.6%

August 1,975 1,686 -14.6%

September 1,959 1,425 -27.3%

October 1,969 1,346 -31.6%

November 1,745 1,340 -23.2%

December 1,519 1,573 +3.6%

January 993 1,058 +6.5%

February 1,264 1,212 -4.1%

March 2,010 1,748 -13.0%

April 2,252 1,747 -22.4%

1,708

2,252

1,747

2009 2010 2011

April

5,319

6,519

5,765

2009 2010 2011

Year To Date

-11.6%+31.9% -22.4% +22.6%

12-Month Avg 1,843 1,609 -11.1%


1,708

2,252

1,747

2009 2010 2011

April

500

1,000

1,500

2,000

2,500

3,000

3,500

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Closed Sales Activity

5,319

6,519

5,765

2009 2010 2011

Year To Date

-11.6%+31.9% -22.4% +22.6%


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Days on Market Until SaleAverage number of days between when a property is listed and when an offer is accepted in a given month.

Month

Prior

Year

Current

Year+ /

May 75 62 -17.6%

June 76 67 -12.9%

July 73 70 -3.6%

August 73 72 -1.5%

September 69 77 +12.3%

October 72 88 +22.8%

November 75 86 +15.0%

December 79 92 +15.6%

January 79 88 +11.8%

February 72 92 +28.3%

March 69 92 +33.4%

April 66 82 +22.8%

76

66

82

2009 2010 2011

April

81

70

88

2009 2010 2011

Year To Date

+25.7%-12.2% +22.8% -12.7%

12-Month Avg 73 79 +8.5%


76

66

82

2009 2010 2011

April

40

50

60

70

80

90

100

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Days on Market Until Sale

81

70

88

2009 2010 2011

Year To Date

+25.7%-12.2% +22.8% -12.7%


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Median Sales PriceMedian price point for all closed sales, not accounting for seller concessions, in a given month.

Month

Prior

Year

Current

Year+ /

May $190,000 $186,000 -2.1%

June $195,000 $198,000 +1.5%

July $186,500 $211,555 +13.4%

August $185,000 $194,000 +4.9%

September $183,000 $188,731 +3.1%

October $179,000 $190,000 +6.1%

November $174,000 $179,500 +3.2%

December $186,000 $189,000 +1.6%

January $175,000 $184,750 +5.6%

February $180,745 $185,000 +2.4%

March $178,000 $181,500 +2.0%

April $185,000 $190,000 +2.7%

$185,000 $185,000 $190,000

2009 2010 2011

April

$180,995 $179,900$185,500

2009 2010 2011

Year To Date

+3.1%0.0% +2.7% -0.6%

12-Month Avg $184,631 $190,000 +2.9%


$185,000 $185,000 $190,000

2009 2010 2011

April

$140,000

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Median Sales Price

$180,995 $179,900$185,500

2009 2010 2011

Year To Date

+3.1%0.0% +2.7% -0.6%


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Average Sales PriceAverage sales price for all closed sales, not accounting for seller concessions, in a given month.

Month

Prior

Year

Current

Year+ /

May $246,641 $236,487 -4.1%

June $244,680 $265,235 +8.4%

July $238,247 $275,446 +15.6%

August $235,796 $257,323 +9.1%

September $234,565 $241,609 +3.0%

October $232,209 $255,409 +10.0%

November $231,094 $243,559 +5.4%

December $248,772 $245,021 -1.5%

January $233,052 $241,332 +3.6%

February $233,103 $238,461 +2.3%

March $230,630 $241,558 +4.7%

April $228,668 $263,430 +15.2%

$227,607 $228,668

$263,430

2009 2010 2011

April

$229,121 $230,801$247,491

2009 2010 2011

Year To Date

+ 7.2%+ 0.5% + 15.2% + 0.7%

12-Month Avg $236,498 $251,107 +6.2%


$227,607 $228,668

$263,430

2009 2010 2011

April

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000

$260,000

$270,000

$280,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Average Sales Price

$229,121 $230,801$247,491

2009 2010 2011

Year To Date

+ 7.2%+ 0.5% + 15.2% + 0.7%


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Percent of Original List Price Received

Month

Prior

Year

Current

Year+ /

May 93.4% 94.8% +1.5%

June 93.7% 94.1% +0.4%

July 93.9% 93.1% -0.9%

August 94.1% 92.4% -1.8%

September 94.0% 91.9% -2.2%

October 93.8% 91.2% -2.7%

November 93.9% 91.3% -2.8%

December 93.1% 91.5% -1.8%

January 93.1% 91.6% -1.6%

February 93.5% 92.3% -1.3%

March 94.4% 92.6% -1.9%

April 94.8% 93.4% -1.4%

Percentage found when dividing a propertys sales price by its original list price, then taking the average for all properties sold in a given month,

not accounting for seller concessions.

92.9% 94.8% 93.4%

2009 2010 2011

April

92.2% 94.2% 92.6%

2009 2010 2011

Year To Date

-1.7%+2.0% -1.4% +2.2%

12-Month Avg 93.9% 92.7% -1.2%


92.9% 94.8% 93.4%

2009 2010 2011

April

91.0%

92.0%

93.0%

94.0%

95.0%

96.0%

97.0%

98.0%

99.0%

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Percent of Original List Price Received

92.2% 94.2% 92.6%

2009 2010 2011

Year To Date

-1.7%+2.0% -1.4% +2.2%


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Housing Affordability Index

Month

Prior

Year

Current

Year+ /

May 146 154 +5.5%

June 143 149 +4.7%

July 149 144 -3.4%

August 153 157 +2.5%

September 156 161 +3.2%

October 159 161 +1.3%

November 165 170 +2.7%

December 151 160 +6.2%

January 162 168 +4.0%

February 157 167 +6.3%

March 160 171 +7.3%

This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary

to qualify for the median-priced home under prevailing interest rates.A higher number means greater affordability.

154 154166

April

157 158170

Year To Date

+7.3%+0.0% +7.6% +0.5%

April 154 166 +7.6%12-Month Avg 155 161 +4.0%

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 10

154 154166

2009 2010 2011

April

120

130

140

150

160

170

180

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Housing Affordability Index

157 158170

2009 2010 2011

Year To Date

+7.3%+0.0% +7.6% +0.5%


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Inventory of Homes for SaleThe number of properties available for sale in active status at the end of a given month.

Month

Prior

Year

Current

Year+ /

May 12,388 13,770 +11.2%

June 12,521 14,333 +14.5%

July 12,461 14,627 +17.4%

August 12,032 13,943 +15.9%

September 11,522 13,220 +14.7%

October 11,158 12,380 +11.0%

November 10,865 11,309 +4.1%

December 9,866 9,967 +1.0%

January 10,505 10,023 -4.6%

February 11,166 10,165 -9.0%

March 12,196 10,911 -10.5%

April 13,092 11,251 -14.1%

12,29313,092

11,251

2009 2010 2011

April

-14.1%+6.5%

12-Month Avg 11,648 12,158 +4.3%

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 11

12,29313,092

11,251

2009 2010 2011

April

8,000

9,000

10,000

11,000

12,000

13,000

14,000

15,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Inventory of Homes for Sale

-14.1%+6.5%


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austin residential sales report april 2011

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