Austin Residential Sales Report | August 2011

8/4/2019 Austin Residential Sales Report | August 2011

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Residential Sales ReportA RESEARCH TOOL PROVIDED BY THEAUSTIN BOARD OF REALTORS

August 2011 Quick Facts

+ 0.5%Change in

Median Sales Price

Despite some choppy waters in August, there have been noteworthy shifts on

both sides of the closing table. Nationally, buyer activity is moving back in line

with historical trends while sellers are making fewer concessions in order to sell

their homes. Falling supply and improving absorption rates in many regions also

suggest that market balance is realigning towards neutral. Locally, both sales

and prices posted positive movement over August 2010, but do the rest of the

numbers provide reason for optimism?

- 24.2%

Change in

Inventory

+ 18.7%

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

Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported.Current as of September 9, 2011. All data from ABOR Multiple Listing Service. Powered by 10K Research and Marketing.

Click on desired metric to jump to that page.

New Listings in the Austin region decreased 9.4 percent to 2,698. Pending

Sales were up 35.6 percent to 2,074. Inventory levels shrank 24.2 percent to

10,570 units, dampening any potential oversupply issues down the road.

Prices were fairly stable. The Median Sales Price increased 0.5 percent to

$195,000. Days on Market increased 5.5 percent to 76 days. Absorption rates

improved as Months Supply of Inventory was down 21.2 percent to 6.1 months.

The economy bobbed along just this side of positive in August. Consumer

confidence, which often affects housing demand, showed some slack even as

personal income and spending both increased modestly. Low interest rates,

declining supply and stabilizing prices are beacons of hope in the harbor, but

the recovery still needs wind in its sails.

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 8-2010 8-2011 + / YTD 2010 YTD 2011 + /

14,480 + 0.7%

72 76Days on Market Until Sale

1,686 2,001 + 18.7% 14,378

New Listings

Pending Sales

Closed Sales

- 14.0%

1,529 2,074 + 35.6% 14,849 15,927 + 7.3%

26,1222,978 2,698 - 9.4% 30,362

+ 5.5% 69 80 + 16.6%

8-2008 8-2009 8-2010 8-2011

8-2008 8-2009 8-2010 8-2011

8-2008 8-2009 8-2010 8-2011

8-2008 8-2009 8-2010 8-2011

157

13,952

175 + 8.9%

--

$245,281 $253,676 + 3.4%

$194,000 $195,000

$253,705 - 1.4%

92.4% 93.1%

Housing Affordability Index

Median Sales Price

Average Sales Price

Percent of Original

List Price Received

$257,321

+ 0.5% $188,900 $190,000

- 0.9%

+ 0.6%

+ 0.8% 93.9% 93.1%

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

7.8

171 + 9.0%

- 24.2%

- 21.2%

10,570

6.1

160

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

8-2008 8-2009 8-2010 8-2011

8-2008 8-2009 8-2010 8-2011

8-2008 8-2009 8-2010 8-2011

8-2008 8-2009 8-2010 8-2011

8-2008 8-2009 8-2010 8-2011

8-2008 8-2009 8-2010 8-2011


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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+ /

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 3,160 -14.0%

August 2,978 2,698 -9.4%

3,280

2,978

2,698

August

27,585

30,362

26,122

Year To Date

-14.0%-9.2% -9.4% +10.1%

12-Month Avg 3,404 2,936 -13.8%


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


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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+ /

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 1,571 -12.5%

March 2,429 2,043 -15.9%

April 2,873 2,111 -26.5%

May 1,445 2,274 +57.4%

June 1,659 2,224 +34.1%

July 1,640 2,180 +32.9%

August 1,529 2,074 +35.6%

2,045

1,529

2,074

August

15,009 14,84915,927

Year To Date

+7.3%-25.2% +35.6% -1.1%

12-Month Avg 1,747 1,767 +1.1%


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


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

Month

Prior

Year

Current

Year+ /

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 1,856 -17.6%

May 2,307 2,080 -9.8%

June 2,211 2,341 +5.9%

July 1,654 2,137 +29.2%

August 1,686 2,001 +18.7%

1,975

1,686

2,001

August

13,71914,378 14,480

Year To Date

+0.7%-14.6% +18.7% +4.8%

12-Month Avg 1,798 1,680 -5.0%


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


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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+ /

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 +22.2%

May 62 76 +22.1%

June 67 72 +8.5%

July 70 74 +5.5%

August 72 76 +5.5%

73 7276

August

77

69

80

Year To Date

+16.6%-1.5% +5.5% -10.6%

12-Month Avg 70 82 +16.4%


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


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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+ /

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 $192,000 +3.2%

June $198,000 $198,000 0.0%

July $211,555 $191,000 -9.7%

August $194,000 $195,000 +0.5%

$185,000$194,000 $195,000

August

$186,324 $188,900 $190,000

Year To Date

+0.6%+4.9% +0.5% +1.4%

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


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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+ /

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 $260,083 +13.7%

May $236,487 $260,203 +10.0%

June $265,235 $263,288 -0.7%

July $275,446 $257,213 -6.6%

August $257,321 $253,705 -1.4%

$235,796

$257,321 $253,705

August

$236,565$245,281

$253,676

Year To Date

+ 3.4%+ 9.1% - 1.4% + 3.7%

12-Month Avg $242,213 $251,592 +3.9%


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


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Percent of Original List Price Received

Month

Prior

Year

Current

Year+ /

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%

August 92.4% 93.1% +0.8%

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% 92.4% 93.1%

August

93.2% 93.9% 93.1%

Year To Date

-0.9%-1.8% +0.8% +0.8%

12-Month Avg 93.9% 92.7% -1.3%


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


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Housing Affordability Index

Month

Prior

Year

Current

Year+ /

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 154 168 +8.9%

June 149 165 +10.4%

July 144 169 +17.7%

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.

153 157

171

August

152160

175

Year To Date

August 157 171 +9.0%12-Month Avg 156 167 +7.1%

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

.. . .


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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+ /

September 11,526 13,232 +14.8%

October 11,162 12,397 +11.1%

November 10,869 11,327 +4.2%

December 9,870 9,995 +1.3%

January 10,509 10,076 -4.1%

February 11,170 10,260 -8.1%

March 12,198 11,150 -8.6%

April 13,094 11,812 -9.8%

May 13,772 11,994 -12.9%

June 14,337 12,014 -16.2%

July 14,634 11,617 -20.6%

August 13,952 10,570 -24.2%

12,036

13,952

10,570

August

-24.2%+2.5%

12-Month Avg 12,258 11,370 -6.1%


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


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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+ /

September 6.9 7.6 +10.1%

October 6.5 7.3 +11.3%

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 -2.8%

March 6.8 6.7 -0.4%

April 7.1 7.3 +2.9%

May 7.1 7.7 +7.7%

June 7.7 7.4 -3.9%

July 8.0 6.9 -13.5%

August 7.8 6.1 -21.2%

7.37.8

6.1

August

-24.2%+2.5%

12-Month Avg 6.8 6.8 -0.0%


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 Residential Sales Report | August 2011

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