Austin Real Estate Stats - July 2011

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Residential Sales ReportA RESEARCH TOOL PROVIDED BY THE AUSTIN BOARD OF REALTORS®

July 2011 Quick Facts

- 9.3%

Change in

Median Sales Price

At the height of summer, we're finally beginning to move beyond comparisons

to the 2010 incentive market. Even so, sudden changes in sales volumes are

likely due to factors occurring at this time last year. Qualified buyers may find

more attractive opportunities now than during either of the recent tax credits.

Interest rates should hold their ground around five percent, though the shift in

the federal credit rating could change that. Some indicators suggest improving

conditions, but let’s see just how we’re faring locally.

- 22.8%

Change in

Inventory

+ 22.9%

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.

New Listings in the Austin region decreased 14.1 percent to 3,156. Pending

Sales were up 39.3 percent to 2,286. Inventory levels shrank 22.8 percent to

11,300 units, but consumers are still finding terrific opportunities. Strong

affordability is partly driving purchase demand.

Prices softened a bit. The Median Sales Price declined 9.3 percent to $191,975.

Days on Market increased 5.2 percent to 74 days. Absorption rates improved as

Months Supply of Inventory was down 16.1 percent to 6.7 months.

Second quarter GDP growth was just 1.3 percent after a meager 0.4 percent

gain in the first quarter. We added 117,000 new jobs in July, a stronger gain

than expected after an embarrassing June. Even though a budget deal has

been reached, several challenges persist. Changes to Fannie, Freddie and the

mortgage interest deduction are still in play. As consumers absorb distressed

inventory and labor market conditions improve, the wheels of recovery grind on.

Percent of List Price Received



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

Key Metrics Historical Sparklines 7-2010 7-2011 + / – YTD 2010 YTD 2011 + / –

+ 5.2% 68 81 + 18.4%

- 14.5%

1,641 2,286 + 39.3% 13,321 14,017 + 5.2%

23,4203,674 3,156 - 14.1% 27,384

1,654 2,033 + 22.9% 12,692

New Listings

Pending Sales

Closed Sales

Days on Market Until Sale

12,330 - 2.9%

70 74

7-2008 7-2009 7-2010 7-2011

7-2008 7-2009 7-2010 7-2011

7-2008 7-2009 7-2010 7-2011

7-2008 7-2009 7-2010 7-2011

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

8.0

169 + 17.2%

- 22.8%

- 16.1%

11,300

6.7

159

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

- 9.3% $188,000 $190,000

- 1.1%

+ 1.1%

+ 0.4% 94.1% 93.1%93.1% 93.5%

Housing Affordability Index

Median Sales Price

Average Sales Price

Percent of Original

List Price Received

$275,446

144

14,633

170 + 7.0%

--

$243,682 $253,769 + 4.1%

$211,555 $191,975

$258,763 - 6.1%

7-2008 7-2009 7-2010 7-2011

7-2008 7-2009 7-2010 7-2011

7-2008 7-2009 7-2010 7-2011

7-2008 7-2009 7-2010 7-2011

7-2008 7-2009 7-2010 7-2011

7-2008 7-2009 7-2010 7-2011



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

Month

Prior

Year

Current

Year+ / –

August 3,280 2,978 -9.2%

September 3,015 2,683 -11.0%

October 3,015 2,543 -15.7%

November 2,483 2,083 -16.1%

December 1,969 1,795 -8.8%

January 3,318 2,784 -16.1%

February 3,493 2,668 -23.6%

March 4,679 3,968 -15.2%

April 4,960 3,753 -24.3%

May 3,464 3,542 +2.3%

June 3,796 3,549 -6.5%

July 3,674 3,156 -14.1%

3,689 3,674

3,156

July

24,305

27,384

23,420

Year To Date

-14.5%-0.4% -14.1% +12.7%

12-Month Avg 3,429 2,959 -13.7%


2009 2010 2011

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

2009 2010 2011



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

Month

Prior

Year

Current

Year+ / –

August 2,045 1,529 -25.2%

September 1,922 1,398 -27.3%

October 1,839 1,424 -22.6%

November 1,251 1,293 +3.4%

December 1,108 1,164 +5.1%

January 1,479 1,450 -2.0%

February 1,795 1,574 -12.3%

March 2,429 2,043 -15.9%

April 2,873 2,117 -26.3%

May 1,445 2,285 +58.1%

June 1,659 2,262 +36.3%

July 1,641 2,286 +39.3%

2,086

1,641

2,286

July

12,964 13,32114,017

Year To Date

+5.2%-21.3% +39.3% +2.8%

12-Month Avg 1,791 1,735 -3.1%


2009 2010 2011

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

2009 2010 2011



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

Month

Prior

Year

Current

Year+ / –

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 1,059 +6.6%

February 1,264 1,225 -3.1%

March 2,011 1,781 -11.4%

April 2,252 1,853 -17.7%

May 2,307 2,063 -10.6%

June 2,211 2,316 +4.7%

July 1,654 2,033 +22.9%

2,285

1,654

2,033

July

11,74412,692 12,330

Year To Date

-2.9%-27.6% +22.9% +8.1%

12-Month Avg 1,822 1,642 -8.5%


2009 2010 2011

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

2009 2010 2011



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+ / –

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 +11.9%

February 72 93 +28.6%

March 69 92 +32.9%

April 66 81 +22.3%

May 62 76 +22.2%

June 67 72 +8.3%

July 70 74 +5.2%

7370

74

July

77

68

81

Year To Date

+18.4%-3.6% +5.2% -11.9%

12-Month Avg 70 81 +15.9%


2009 2010 2011

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

2009 2010 2011



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

Month

Prior

Year

Current

Year+ / –

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 $184,500 +5.4%

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

March $178,000 $182,000 +2.2%

April $185,000 $189,900 +2.6%

May $186,000 $193,000 +3.8%

June $198,000 $198,425 +0.2%

July $211,555 $191,975 -9.3%

$186,500

$211,555

$191,975

July

$186,990 $188,000 $190,000

Year To Date

+1.1%+13.4% -9.3% +0.5%

12-Mo. Median $185,000 $190,000 +2.7%


2009 2010 2011

$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

2009 2010 2011



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

Month

Prior

Year

Current

Year+ / –

August $235,796 $257,321 +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 $245,024 -1.5%

January $233,052 $241,053 +3.4%

February $233,103 $237,568 +1.9%

March $230,812 $241,053 +4.4%

April $228,668 $259,847 +13.6%

May $236,487 $260,360 +10.1%

June $265,235 $262,815 -0.9%

July $275,446 $258,763 -6.1%

$238,247

$275,446 $258,763

July

$236,694 $243,682$253,769

Year To Date

+ 4.1%+ 15.6% - 6.1% + 3.0%

12-Month Avg $240,468 $251,913 +4.8%


2009 2010 2011

$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

2009 2010 2011



Percent of Original List Price Received

Month

Prior

Year

Current

Year+ / –

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% -1.7%

February 93.5% 92.3% -1.3%

March 94.4% 92.6% -1.9%

April 94.8% 93.4% -1.4%

May 94.8% 93.4% -1.4%

June 94.1% 93.8% -0.3%

July 93.1% 93.5% +0.4%

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

not accounting for seller concessions.

93.9% 93.1% 93.5%

July

93.0% 94.1% 93.1%

Year To Date

-1.1%-0.9% +0.4% +1.2%

12-Month Avg 94.0% 92.6% -1.5%


2009 2010 2011

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

2009 2010 2011



Housing Affordability Index

Month

Prior

Year

Current

Year+ / –

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 +4.1%

February 157 167 +6.3%

March 160 171 +7.1%

April 154 166 +7.7%

May 154 167 +8.5%

June 149 165 +10.2%

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.

149 144

169

July

149159

170

Year To Date

July 144 169 +17.2%12-Month Avg 155 165 +6.4%

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

2009 2010 2011

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

2009 2010 2011

.- . . .



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+ / –

August 12,036 13,949 +15.9%

September 11,526 13,229 +14.8%

October 11,162 12,394 +11.0%

November 10,869 11,324 +4.2%

December 9,870 9,992 +1.2%

January 10,509 10,072 -4.2%

February 11,170 10,253 -8.2%

March 12,198 11,141 -8.7%

April 13,094 11,791 -10.0%

May 13,772 11,954 -13.2%

June 14,337 11,889 -17.1%

July 14,633 11,300 -22.8%

12,464

14,633

11,300

July

-22.8%-3.4%

12-Month Avg 12,098 11,607 -3.1%


2009 2010 2011

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



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+ / –

August 7.3 7.8 +7.4%

September 6.9 7.6 +10.0%

October 6.5 7.3 +11.2%

November 6.2 6.8 +9.6%

December 5.6 6.0 +6.6%

January 6.0 6.0 +0.6%

February 6.3 6.1 -2.9%

March 6.8 6.7 -0.5%

April 7.1 7.3 +2.7%

May 7.1 7.7 +7.3%

June 7.7 7.3 -5.0%

July 8.0 6.7 -16.1%

7.58.0

6.7

July

-22.8%-3.4%

12-Month Avg 6.8 6.9 +2.2%


2009 2010 2011

3

4

5

6

7

8

9

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

Historical Months Supply of Inventory

Austin Real Estate Stats - July 2011

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