Residential Sales Report

A RESEARCH TOOL PROVIDED BY THE AUSTIN BOARD OF REALTORS®

January 2011 Quick Facts

A house. It's the single largest investment most families make. It's where we
rest our heads every night. Houses represent the brick and mortar that
+ 0.6% + 6.3% - 1.1%
comprise the very communities in which we live. They provide us with a sense
of place to extend our roots downward. We raise our families under the safety Change in Change in Change in
Closed Sales Median Sales Price Inventory
and warmth of their rooftops. Our houses become homes. Let's analyze these
structures that are so much more than that, and let's take a look at how our
home market began 2011.

Pending Sales in the Austin region increased 7.2 percent since January 2010 to Market Overview 2
1,587 agreements signed. New Listing activity decreased 16.2 percent, which New Listings 3
means sellers placed 2,779 new homes on the market. At this rate, they should Pending Sales 4
expect their properties to sell after approximately 87 days.
Closed Sales 5
Prices climbed upward. Median Sales Price increased 6.3 percent over last Days On Market Until Sale 6
January to $186,000. Negotiations moved toward buyers as Percent of Original
Median Sales Price 7
List Price Received at Sale decreased to 91.6 percent. Months Supply of
Inventory inched up 3.3 percent to 5.9 months. Average Sales Price 8
Percent of List Price Received 9
Interest rates are expected to remain around 5.0 percent and prices are
Housing Affordability Index 10
expected to rise gradually in many markets. Although the labor department
reported that the seasonally-adjusted unemployment rate dropped to 9.0 Inventory of Homes for Sale 11
percent in January, expect joblessness to remain an issue. There's a steep, Months Supply of Inventory 12
jagged rock face behind us; ahead lies a gently inclined grassy plain.
Click on desired metric to jump to that page.

All data comes from the ABOR Multiple Listing Service. Powered by 10K Research and Marketing. | 1
Market Overview
Key market metrics for the current month and year-to-date.

Key Metrics Historical Sparklines 1-2010 1-2011 +/– YTD 2010 YTD 2011 +/–

New Listings 3,318 2,779 - 16.2% 3,318 2,779 - 16.2%

1-2008 1-2009 1-2010 1-2011

Pending Sales 1,480 1,587 + 7.2% 1,480 1,587 + 7.2%

1-2008 1-2009 1-2010 1-2011

Closed Sales 993 999 + 0.6% 993 999 + 0.6%

1-2008 1-2009 1-2010 1-2011

Days on Market Until Sale 79 87 + 10.5% 79 87 + 10.5%

1-2008 1-2009 1-2010 1-2011

Median Sales Price $175,000 $186,000 + 6.3% $175,000 $186,000 + 6.3%

1-2008 1-2009 1-2010 1-2011

Average Sales Price $233,052 $244,352 + 4.8% $233,052 $244,352 + 4.8%

1-2008 1-2009 1-2010 1-2011

Percent of Original
93.1% 91.6% - 1.6% 93.1% 91.6% - 1.6%
List Price Received
1-2008 1-2009 1-2010 1-2011

Housing Affordability Index 162 167 + 3.4% 162 167 + 3.4%

1-2008 1-2009 1-2010 1-2011

Inventory of Homes for Sale 9,907 9,796 - 1.1% -- -- --

1-2008 1-2009 1-2010 1-2011

Months Supply
5.7 5.9 + 3.3% -- -- --
of Homes for Sale
1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2
New Listings
A count of the properties that have been newly listed on the market in a given month.

January Year To Date Month

Prior Current
+/–
Year Year
February 3,067 3,493 +13.9%
3,318 3,318
3,140 3,140 March 3,664 4,679 +27.7%
2,779 2,779 April 3,627 4,960 +36.8%
May 3,472 3,464 -0.2%
June 3,646 3,796 +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%
+5.7% -16.2% +5.7% -16.2%
January 3,318 2,779 -16.2%
2009 2010 2011 2009 2010 2011 12-Month Avg 3,187 3,244 +1.8%

Historical New Listing Activity

5,500

5,000

4,500

4,000

3,500

3,000

2,500

2,000

1,500

1,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 3
Pending Sales
A count of the properties that have offers accepted on them in a given month.

January Year To Date Month

Prior Current
+/–
Year Year
1,587 February 1,398 1,795 +28.4%
1,587
1,480 1,480 March 1,856 2,428 +30.8%
1,339 1,339 April 1,951 2,874 +47.3%
May 2,184 1,447 -33.7%
June 2,150 1,662 -22.7%
July 2,088 1,645 -21.2%
August 2,045 1,535 -24.9%
September 1,922 1,402 -27.1%
October 1,839 1,437 -21.9%
November 1,250 1,311 +4.9%
December 1,108 1,195 +7.9%
+10.5% +7.2% +10.5% +7.2%
January 1,480 1,587 +7.2%
2009 2010 2011 2009 2010 2011 12-Month Avg 1,773 1,693 -4.5%

Historical Pending Sales Activity

3,500

3,000

2,500

2,000

1,500

1,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 4
Closed Sales
A count of the properties that have closed in a given month.

January Year To Date Month

Prior Current
+/–
Year Year
February 1,196 1,264 +5.7%
993 999 993 999 March 1,501 2,010 +33.9%
914 914 April 1,708 2,252 +31.9%
May 1,868 2,307 +23.5%
June 2,272 2,211 -2.7%
July 2,285 1,654 -27.6%
August 1,975 1,685 -14.7%
September 1,959 1,423 -27.4%
October 1,969 1,342 -31.8%
November 1,744 1,329 -23.8%
December 1,519 1,537 +1.2%
+8.6% +0.6% +8.6% +0.6%
January 993 999 +0.6%
2009 2010 2011 2009 2010 2011 12-Month Avg 1,749 1,668 -2.6%

Historical Closed Sales Activity

3,500

3,000

2,500

2,000

1,500

1,000

500
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 5
Days on Market Until Sale
The average number of days between when a property is first listed and when an offer is accepted. Sold properties only.

January Year To Date Month

Prior Current
+/–
Year Year

87 February 84 72 -14.1%
87
82 82 March 83 69 -16.0%
79 79
April 76 66 -12.2%
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 +22.4%
November 75 86 +15.1%
December 79 91 +15.2%
-3.6% +10.5% -3.6% +10.5%
January 79 87 +10.5%
2009 2010 2011 2009 2010 2011 12-Month Avg 75 74 -2.1%

Historical Days on Market Until Sale

100

90

80

70

60

50

40
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 6
Median Sales Price
The median sales price for all closed sales in a given month. Sold properties only. Does not account for seller concessions.

January Year To Date Month

Prior Current
+/–
Year Year
$186,00 $186,00 February $187,900 $180,745 -3.8%
$174,00 $175,00 0 $174,00 $175,00 0
0 0 0 0 March $179,000 $178,000 -0.6%
April $185,000 $185,000 0.0%
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 $173,750 $179,211 +3.1%
December $186,000 $189,000 +1.6%
+0.6% +6.3% +0.6% +6.3%
January $175,000 $186,000 +6.3%
2009 2010 2011 2009 2010 2011 12-Month Avg $185,000 $189,000 +2.2%

Historical Median Sales Price

$220,000

$210,000

$200,000

$190,000

$180,000

$170,000

$160,000

$150,000

$140,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 7
Average Sales Price
The average sales price for all closed sales in a given month. Sold properties only. Does not account for seller concessions.

January Year To Date Month

Prior Current
+/–
Year Year
$244,35 February $236,506 $233,103 -1.4%
$233,05 $244,35
$224,85 2 $224,85 $233,05 March $227,559 $230,630 +1.3%
2 2
0 0 2
April $227,607 $228,668 +0.5%
May $246,641 $236,487 -4.1%
June $244,680 $265,235 +8.4%
July $238,247 $275,446 +15.6%
August $235,796 $257,393 +9.2%
September $234,565 $241,671 +3.0%
October $232,209 $254,570 +9.6%
November $231,122 $243,873 +5.5%
December $248,772 $245,565 -1.3%
+ 3.6% + 4.8% + 3.6% + 4.8%
January $233,052 $244,352 +4.8%
2009 2010 2011 2009 2010 2011 12-Month Avg $236,745 $246,124 +4.0%

Historical Average Sales Price

$280,000

$270,000

$260,000

$250,000

$240,000

$230,000

$220,000

$210,000

$200,000

$190,000

$180,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 8
Percent of Original List Price Received
The average percentage found when dividing a property's sales price by the original list price. Sold properties only. Does not account for
list prices from any previous listing contracts or any seller concessions.

January Year To Date Month

Prior Current
+/–
Year Year
February 91.7% 93.6% +2.0%
91.3% 93.1% 91.6% 91.3% 93.1% 91.6% March 92.3% 94.4% +2.3%
April 92.9% 94.8% +2.0%
May 93.4% 94.8% +1.5%
June 93.7% 94.1% +0.4%
July 93.9% 93.2% -0.8%
August 94.1% 92.4% -1.8%
September 94.0% 91.9% -2.2%
October 93.8% 91.3% -2.7%
November 93.9% 91.3% -2.8%
December 93.1% 91.5% -1.7%
+2.0% -1.6% +2.0% -1.6%
January 93.1% 91.6% -1.6%
2009 2010 2011 2009 2010 2011 12-Month Avg 93.4% 93.2% -0.3%

Historical Percent of Original List Price Received

99.0%

98.0%

97.0%

96.0%

95.0%

94.0%

93.0%

92.0%

91.0%
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Housing Affordability Index
The Housing Affordability Index measures housing affordability for the region. An HAI of 120 would mean the median household income
was 120% of what's necessary to qualify for the median priced home under prevailing interest rates. The higher the number, the more affordable housing is.

January Year To Date Month

Prior Current
+/–
Year Year
February 147 157 +7.0%
167 162 167
162 156 March 157 160 +1.4%
156
April 154 154 +0.0%
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 166 170 +2.8%
December 151 160 +6.2%
+3.9% +3.4% +3.9% +3.4%
January 162 167 +3.4%
2009 2010 2011 2009 2010 2011 12-Month Avg 154 158 +2.9%

Historical Housing Affordability Index

180

170

160

150

140

130

120
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 10
Inventory of Homes for Sale
The number of properties available for sale in active status at the end of the month.

January Month
Prior Current
+/–
Year Year
February 10,947 10,532 -3.8%
10,705 March 11,373 11,241 -1.2%
9,907 9,796 April 11,938 12,354 +3.5%
May 12,375 13,084 +5.7%
June 12,381 13,765 +11.2%
July 12,522 14,399 +15.0%
August 12,476 14,593 +17.0%
September 12,008 13,916 +15.9%
October 11,549 13,197 +14.3%
November 11,164 12,316 +10.3%
December 10,869 11,145 +2.5%
-7.5% -1.1%
January 9,907 9,796 -1.1%
2009 2010 2011 12-Month Avg 11,626 12,528 +7.4%

Historical Inventory of Homes for Sale

15,000

14,000

13,000

12,000

11,000

10,000

9,000

8,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 11
Months Supply of Inventory
Compares the number of active listings available to the average monthly pending sales for the last twelve months.

January Month
Prior Current
+/–
Year Year
February 6.0 6.0 +0.5%
March 6.4 6.4 +0.5%
5.7 5.7 5.9
April 6.9 6.9 +0.1%
May 7.3 7.1 -2.5%
June 7.5 7.3 -1.9%
July 7.6 7.7 +1.0%
August 7.6 8.0 +5.6%
September 7.4 7.7 +4.8%
October 7.1 7.5 +6.7%
November 6.6 7.2 +9.0%
December 6.3 6.7 +6.8%
-0.7% +3.3%
January 5.7 5.9 +3.3%
2009 2010 2011 12-Month Avg 6.9 7.0 +2.8%

Historical Months Supply of Inventory

9

3
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 12