Download - 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
-
8/8/2019 Austin Real Estate Market Stats October 2010
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
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 2
-
8/8/2019 Austin Real Estate Market Stats October 2010
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
January through April
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
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
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 3
-
8/8/2019 Austin Real Estate Market Stats October 2010
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
January through April
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
January through April
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
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
One YearChange:
Two YearChange:
- 13.3%
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 4
-
8/8/2019 Austin Real Estate Market Stats October 2010
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
January through April
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
January through April
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
Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10
Historical Days on Market Until Sale
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 5
-
8/8/2019 Austin Real Estate Market Stats October 2010
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
January through April
$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
January through April
$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
Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10
Historical Median Prices
Figures do not take into account seller concessions.
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 6
-
8/8/2019 Austin Real Estate Market Stats October 2010
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
January through April
$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%
Figures do not take into account seller concessions.
$239,678$232,275
$257,771
2008 2009 2010
April
$244,934$236,019
$246,043
2008 2009 2010
January through April
$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
Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10
Historical Average Prices
Figures do not take into account seller concessions.
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 7
-
8/8/2019 Austin Real Estate Market Stats October 2010
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%
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 8
-
8/8/2019 Austin Real Estate Market Stats October 2010
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
Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10
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.
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 9
-
8/8/2019 Austin Real Estate Market Stats October 2010
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
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 10
-
8/8/2019 Austin Real Estate Market Stats October 2010
11/15
Housing Supply OutlookA Monthly Indicator from the Austin Board of REALTORS
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
All Single-Family Condo-Townhouse
Previously Owned
New Construction
$125,001 to $175,000Inventory Months Supply
1,864
1,506
358
78 6810
All Single-Family Condo-Townhouse
Previously Owned
New Construction
6.5 6.4
7.47.9
9.1
4.1
All Single-Family Condo-Townhouse
Previously Owned
New Construction
2,306
2,051
255346 301
45
All Single-Family Condo-Townhouse
Previously Owned
New Construction
6.4 6.3
7.4
5.6 5.7 5.5
All Single-Family Condo-Townhouse
Previously Owned
New Construction
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 11
-
8/8/2019 Austin Real Estate Market Stats October 2010
12/15
Housing Supply OutlookA Monthly Indicator from the Austin Board of REALTORS
$175,001 to $250,000Inventory Months Supply
2,301
2,066
235382 321
61
All Sin le-Famil Condo-Townhouse
Previously Owned
New Construction
7.2 7.1
8.3
5.65.1
10.5
All Single-Family Condo-Townhouse
Previously Owned
New Construction
$250,001 to $400,000Inventory Months Supply
2,301
2,066
235382 321
61
All Single-Family Condo-Townhouse
Previously Owned
New Construction
7.2 7.1
8.3
5.65.1
10.5
All Single-Family Condo-Townhouse
Previously Owned
New Construction
2,131
1,931
200
394307
87
All Single-Family Condo-Townhouse
Previously Owned
New Construction
7.4 7.1
11.3
6.76.0
12.3
All Single-Family Condo-Townhouse
Previously Owned
New Construction
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 12
-
8/8/2019 Austin Real Estate Market Stats October 2010
13/15
Housing Supply OutlookA Monthly Indicator from the Austin Board of REALTORS
$400,001 to $750,000Inventory Months Supply
1,2371,150
87
239 209
30
All Sin le-Famil Condo-Townhouse
Previously Owned
New Construction
9.0 8.8
12.1
8.98.3
18.0
All Single-Family Condo-Townhouse
Previously Owned
New Construction
$750,001 and aboveInventory Months Supply
1,2371,150
87
239 209
30
All Single-Family Condo-Townhouse
Previously Owned
New Construction
9.0 8.8
12.1
8.98.3
18.0
All Single-Family Condo-Townhouse
Previously Owned
New Construction
843815
28
152 132
20
All Single-Family Condo-Townhouse
Previously Owned
New Construction
19.6 19.7
16.8
29.4
25.5
0.0
All Single-Family Condo-Townhouse
Previously Owned
New Construction
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 13
-
8/8/2019 Austin Real Estate Market Stats October 2010
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
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 14
-
8/8/2019 Austin Real Estate Market Stats October 2010
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%
January through April
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%
January through April
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%
All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 15