june 2012 real estate market report

7/31/2019 June 2012 Real Estate Market Report

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A RESEARCH TOOL PROVIDED BY THEAUSTIN BOARD OF REALTORS

June 2012 Quick Facts

Market Overview 2

New Listings 3

Pending Sales 4

Closed Sales 5

Days On Market Until Sale 6

Median Sales Price 7Average Sales Price 8

9

Housing Affordability Index 10

Inventory of Homes for Sale 11

Months Supply of Inventory 12

Residential Sales Report

+ 8.6%

Change in

Median Sales Price

Click on desired metric to jump to that page.

Were halfway through 2012, and what a year its been. Residential real estate

has finally taken some meaningful strides toward recovery, and theyve all been

self-powered without divine (or governmental) intervention. Yes, there have

been some head fakes in the past, but there's real reason to believe that market

turnaround awaits us. Beyond home prices, key metrics to watch include Days

on Market, Percent of List Price Received and Months Supply of Inventory.

Locally, several indicators showed improvement. Let's see what the rest of our

local data has to say.

New Listings in the Austin region increased 5.5 percent to 3,748. Pending Sales

were up 28.1 percent to 2,802. Inventory levels shrank 24.7 percent to 9,154

units.

Prices moved higher. The Median Sales Price increased 8.6 percent to

$215,000. Days on Market was down 24.7 percent to 54 days. The supply-demand balance stabilized as Months Supply of Inventory was down 38.5

percent to 4.5 months.

We seem to be at a critical inflection point in our search for more employment

opportunities. Job growth provides the dual benefit of stimulating new

household growth as well as relieving distressed homeowners. There's also the

positive feedback loop of housing creating jobs and jobs creating housing.

Keeping the affordability picture afloat, the Fed has vowed to keep interest rates

around 4.0 percent through mid-2013.

- 24.7%

Change in

Inventory

+ 12.4%

Change in

Closed Sales

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 6-2011 6-2012 + / YTD 2011 YTD 2012 + /

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 | 2

7.3

166 - 0.2%

- 24.7%

- 38.5%

9,154

4.5

172

--

-- --

--

--Months Supply

of Homes for Sale

Inventory of Homes for Sale

+ 8.6% $190,000 $200,000

+ 2.2%

- 24.7% 82 68 - 17.1%

+ 5.3%

+ 2.5% 93.0% 95.1%

+ 1.1%

2,187 2,802 + 28.1% 11,610 14,530 + 25.2%

20,4923,551 3,748 + 5.5% 20,276

2,356 2,647 + 12.4% 10,363

New Listings

Pending Sales

Closed Sales

93.8% 96.1%

Housing Affordability Index

Days on Market Until Sale

Median Sales Price

Average Sales Price

Percent of Original

List Price Received

$262,654

12,088 + 16.6%

166

12,160

72 54

176 + 2.4%

--

$253,084 $260,876 + 3.1%

$198,000 $215,000

$278,501 + 6.0%

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012


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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+ /

July 3,674 3,164 -13.9%

August 2,978 2,702 -9.3%

September 2,683 2,484 -7.4%

October 2,543 2,483 -2.4%

November 2,083 2,052 -1.5%

December 1,795 1,585 -11.7%

January 2,785 2,593 -6.9%

February 2,669 2,892 +8.4%

March 3,971 3,740 -5.8%

April 3,756 3,693 -1.7%May 3,544 3,826 +8.0%

June 3,551 3,748 +5.5%

12-Month Avg 3,003 2,914 -3.0%


3,7963,551

3,748

2010 2011 2012

June

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 1-2012

Historical New Listing Activity

23,710

20,276 20,492

2010 2011 2012

Year To Date

+1.1%-6.5% +5.5% -14.5%


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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+ /

July 1,639 2,104 +28.4%

August 1,527 1,862 +21.9%

September 1,396 1,697 +21.6%

October 1,423 1,635 +14.9%

November 1,293 1,465 +13.3%

December 1,163 1,267 +8.9%

January 1,451 1,704 +17.4%

February 1,569 2,031 +29.4%

March 2,042 2,504 +22.6%

April 2,107 2,671 +26.8%May 2,254 2,818 +25.0%

June 2,187 2,802 +28.1%

12-Month Avg 1,671 2,047 +22.5%


1,656

2,187

2,802

2010 2011 2012

June

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 1-2012

Historical Pending Sales Activity

11,673 11,610

14,530

2010 2011 2012

Year To Date

+25.2%+32.1% +28.1% -0.5%


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

Month

Prior

Year

Current

Year+ /

July 1,654 2,182 +31.9%

August 1,686 2,226 +32.0%

September 1,425 1,823 +27.9%

October 1,346 1,603 +19.1%

November 1,340 1,498 +11.8%

December 1,573 1,736 +10.4%

January 1,059 1,196 +12.9%

February 1,225 1,432 +16.9%

March 1,782 2,101 +17.9%

April 1,860 2,130 +14.5%May 2,081 2,582 +24.1%

June 2,356 2,647 +12.4%

12-Month Avg 1,616 1,930 +19.3%


2,2112,356

2,647

2010 2011 2012

June

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 1-2012

Historical Closed Sales Activity

11,03810,363

12,088

2010 2011 2012

Year To Date

+16.6%+6.6% +12.4% -6.1%


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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+ /

July 70 74 +5.8%

August 72 77 +7.1%

September 77 78 +0.7%

October 88 80 -8.7%

November 86 80 -8.0%

December 92 84 -8.8%

January 88 83 -5.8%

February 93 82 -11.5%

March 92 79 -14.4%

April 81 65 -20.1%May 76 61 -20.0%

June 72 54 -24.7%

12-Month Avg 81 73 -10.2%


6772

54

2010 2011 2012

June

40

50

60

70

80

90

100

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Days on Market Until Sale

68

82

68

2010 2011 2012

Year To Date

-17.1%+8.3% -24.7% +20.9%


7/12

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

Month

Prior

Year

Current

Year+ /

July $211,555 $190,000 -10.2%

August $194,000 $191,500 -1.3%

September $188,731 $185,000 -2.0%

October $190,000 $187,785 -1.2%

November $179,500 $184,000 +2.5%

December $189,000 $186,950 -1.1%

January $184,500 $176,500 -4.3%

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

March $182,250 $197,000 +8.1%

April $189,900 $205,000 +8.0%May $192,000 $209,153 +8.9%

June $198,000 $215,000 +8.6%

12-Mo. Median $190,913 $195,000 +2.1%


$198,000 $198,000

$215,000

2010 2011 2012

June

$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 1-2012

Historical Median Sales Price

$185,000 $190,000$200,000

2010 2011 2012

Year To Date

+5.3%0.0% +8.6% +2.7%


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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+ /

July $275,446 $255,611 -7.2%

August $257,321 $250,351 -2.7%

September $241,609 $244,565 +1.2%

October $255,409 $247,299 -3.2%

November $243,559 $242,519 -0.4%

December $245,024 $242,411 -1.1%

January $241,053 $223,203 -7.4%

February $237,568 $248,306 +4.5%

March $241,250 $255,172 +5.8%

April $261,662 $263,838 +0.8%May $259,972 $269,407 +3.6%

June $262,654 $278,501 +6.0%

12-Month Avg $253,366 $254,572 +0.5%


$265,235 $262,654$278,501

2010 2011 2012

June

$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 1-2012

Historical Average Sales Price

$238,921$253,084

$260,876

2010 2011 2012

Year To Date

+ 3.1%- 1.0% + 6.0% + 5.9%


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Percent of Original List Price Received

Month

Prior

Year

Current

Year+ /

July 93.1% 93.5% +0.4%

August 92.4% 93.2% +0.8%

September 91.9% 92.9% +1.1%

October 91.2% 93.0% +2.0%

November 91.3% 92.8% +1.7%

December 91.5% 92.6% +1.2%

January 91.6% 92.8% +1.4%

February 92.3% 93.5% +1.3%

March 92.6% 94.6% +2.2%

April 93.4% 95.6% +2.4%May 93.4% 95.8% +2.5%

June 93.8% 96.1% +2.5%

12-Month Avg 92.5% 94.1% +1.7%


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.

94.1% 93.8% 96.1%

2010 2011 2012

June

91%

92%

93%

94%

95%

96%

97%

98%

99%

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Percent of Original List Price Received

94.3% 93.0% 95.1%

2010 2011 2012

Year To Date

+2.2%-0.3% +2.5% -1.3%


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11/12

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+ /

July 14,647 11,911 -18.7%

August 13,968 11,269 -19.3%

September 13,250 10,561 -20.3%

October 12,417 10,076 -18.9%

November 11,348 9,407 -17.1%

December 10,016 8,291 -17.2%

January 10,100 8,281 -18.0%

February 10,287 8,434 -18.0%

March 11,185 8,886 -20.6%

April 11,861 9,160 -22.8%May 12,079 9,235 -23.5%

June 12,160 9,154 -24.7%

12-Month Avg 11,943 9,555 -19.9%


14,349

12,160

9,154

2010 2011 2012

June

7,000

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 1-2012

Historical Inventory of Homes for Sale

-24.7%+6.9%


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Months Supply of InventoryThe inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.

Month

Prior

Year

Current

Year+ /

July 8.2 7.0 -14.9%

August 8.0 6.5 -18.9%

September 7.8 6.0 -23.0%

October 7.4 5.7 -24.0%

November 6.8 5.2 -22.8%

December 6.0 4.6 -23.1%

January 6.0 4.5 -24.8%

February 6.2 4.5 -27.2%

March 6.9 4.7 -32.2%

April 7.6 4.7 -38.2%May 7.4 4.6 -37.7%

June 7.3 4.5 -38.5%

12-Month Avg 7.1 5.2 -27.0%


7.97.3

4.5

2010 2011 2012

June

3

4

5

6

7

8

9

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Months Supply of Inventory

-38.5%-7.3%

june 2012 real estate market report

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