A free research tool from the Austin Board of REALTORS® brought to you by the unique data-sharing traditions

of the REALTOR® community

Residential Sales Report
January 2009
January saw a dramatic drop-off in market activity compared to one year ago as the broader economic troubles rear their head in the Austin housing market. New listings declined by 23.0 percent from last January, posting 3,122 units. Pending sales fell by 31.6 percent to 1,461, and closed sales were down 41.2 percent to 844 units. Confirming this dynamic is rising market time (82 days in January, up 10.3 percent) and declining sales prices ($172,000, down 7.0 percent in January). Additionally, the Percent of Original List Price Received at Sale was 91.3, down 4.7 percent of the last two years. Fortunately, for potential buyers this means an improving affordability environment. The Housing Affordability Index (HAI) of 157 this January is up 8.8 percent from last year, which means a more accessible market for buyers.

New Listings Pending Sales Closed Sales Days On Market Until Sale Median Sales Price Average Sales Price Percent of Original List Price Received at Sale Housing Affordability Index Housing Supply Outlook
All Residential Properties Under $125,000 and $125,001 to $175,000 $175,001 to $250,000 and $250,001 to $400,000 $400,001 to $750,000 and $750,001 and above

2 3 4 5 6 7 8 9 10 11 12 13 14 15

Market Overview Annual Review

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

1

New Listings
A Monthly Indicator from the Austin Board of REALTORS®

January
4,055

Entire Year
43,001 44,354 38,520

3,072

3,122

One Year Change:

One Year Change:

- 23.0%
Two Year Change:

- 13.2%
Two Year Change:

+ 1.6%

- 10.4%

2007

2008

2009

2006

2007

2008

Historical Market Activity
5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500

New Listings Pending Sales Closed Sales

Jan-03

Jan-04

Jan-05

Jan-06

Jan-07

Jan-08

Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

2

Pending Sales
A Monthly Indicator from the Austin Board of REALTORS® April January
2,062 2,137

January through April

Entire Year
30,033

2,062

2,137

30,033

27,289

27,289
22,536

1,461

22,536

1,461

One Year Change:

One Year Change:

-31.6%
Two Year Change:

-17.4%
Two Year Change:

2007 2007

2008 2008

-29.1%

2009 2009

2007 2006

2008 2007

-25.0%

2009 2008

Historical Market Activity
5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500

New Listings Pending Sales Closed Sales

Jan-03

Jan-04

Jan-05

Jan-06

Jan-07

Jan-08

Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

3

Closed Sales
A Monthly Indicator from the Austin Board of REALTORS® April January
1,644 1,644 1,435 1,435

January through April

Entire Year
30,293

30,293

28,049

28,049
22,380

22,380

844

844

One Year Change:

One Year Change:

- 41.2%
Two Year Change:

- 20.2%
Two Year Change:

2007

2008

- 48.7%

2009

2007

2008

2009

2007 2006

2008 2007

- 26.1%

2009 2008

Historical Market Activity
5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500

New Listings Pending Sales Closed Sales

Jan-03

Jan-04

Jan-05

Jan-06

Jan-07

Jan-08

Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

4

Days on Market Until Sale
A Monthly Indicator from the Austin Board of REALTORS® April January 74 74
59 59 57 57

January through April
82

82

Entire Year

67 67

68 68

One Year Change:

One Year Change:

+ 10.3%
Two Year Change:

+ 17.1%
Two Year Change:

2007 2007

2008 2008

+ 19.8%

2009 2009

2007 2006

2008 2007

+ 14.3%

2009 2008

Historical Days on Market Until Sale
90

80

70

60

50

Jan-03

Jan-04

Jan-05

Jan-06

Jan-07

Jan-08

Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

5

Median Sales Price
A Monthly Indicator from the Austin Board of REALTORS® April January $174,500
$174,500

January through April

Entire Year
$171,500

Figures do not take into account seller concessions.

$185,000

$185,000

$184,000

$187,500

$172,000

$172,000

$184,000

$187,500

$171,500

One Year Change:

One Year Change:

- 7.0%
Two Year Change:

+ 1.9%
Two Year Change:

2007 2007

2008 2008

- 1.4%

2009 2009

2007 2006

2008 2007

+ 9.3%

2009 2008

Historical Median Prices
$200,000 $190,000

$180,000

$170,000

$160,000

$150,000

$140,000

Jan-03

Jan-04

Jan-05

Jan-06

Jan-07

Jan-08

Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

6

Average Sales Price
A Monthly Indicator from the Austin Board of REALTORS® April January January through April

Entire Year
$229,800

Figures do not take into account seller concessions.

$237,285

$237,285

$241,942

$241,942

$223,226

$223,226

$246,419 $246,419

$229,800

$243,885 $243,885

One Year Change:

One Year Change:

- 7.7%
Two Year Change:

- 1.0%
Two Year Change:

2007 2007

2008 2008

- 5.9%

2009 2009

2007 2006

2008 2007

+ 6.1%

2009 2008

Historical Average Prices
$260,000

$240,000

$220,000

$200,000

$180,000

Jan-03

Jan-04

Jan-05

Jan-06

Jan-07

Jan-08

Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

7

Percent of Original List Price Received at Sale
A Monthly Indicator from the Austin Board of REALTORS®

January
100.0% 100.0%

Entire Year
95.8%
96.8%

The Percent of Original List Price Received at Sale is calculated by comparing the final sales prices of closed sales to their original list prices. This does not account for list prices from any previous listing contracts. The sales price does not account for seller concessions.

96.1% 94.3%

95.0%

93.9% 91.3%

95.0%

90.0%

90.0%

One Year Change:
85.0%

- 2.7%
Two Year Change:

85.0%

One Year Change:

- 1.8%
Two Year Change:

- 4.7%
80.0% 80.0%

- 2.5%

2007

2008

2009

2006

2007

2008

Historical Percent of Original List Price Received at Sale
100.0%

95.0%

90.0%

85.0%

80.0%

Jan-05

Jan-06

Jan-07

Jan-08

Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

8

Housing Affordability Index
A Monthly Indicator from the Austin Board of REALTORS®
The HAI formula measures housing affordability for the Austin Housing Market. An HAI of 120 means the median family income is 120% of the necessary income to qualify for the median priced home using a 20% down, 30-year fixed rate mortgage.

April January
157 147

147

144

157 144

One Year Change:

+ 8.8%
Two Year Change:

+ 7.3%

2007
2007

2008

2009
2008 2009

Historical Housing Affordability Index
180 170

160

150

140

130

120

Jan-03

Jan-04

Jan-05

Jan-06

Jan-07

Jan-08

Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

9

Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Inventory of Active Listings
7,071

Previously Owned New Construction 2,050 1,823 1,579

Single-Family Condo-Townhouse

1,443 1,058 788
1,670 1,062 582

253

241

366

437 259 88

Single-Family

Condo-Townhouse

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 and above

Months Supply of Inventory
Previously Owned New Construction All 15.9 Single-Family Condo-Townhouse All 21.7 17.6 8.8 6.8 5.3 5.6 5.1 5.7 5.2 4.5 5.0 4.6 5.7 3.4 3.6 4.2 7.1 8.1 4.6 5.9 13.4 9.0 6.6 9.9 18.3 28.5

Up to $125,000

All

Single-Family

Condo-Townhouse

$125,001 to $175,000

$175,001 to $250,000

$250,001 to $400,000

$400,001 and above

$750,001 and above

A market is considered balanced between buyers and sellers when there is roughly a 5 to 6-month supply of homes available for purchase

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

10

Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Under $125,000
Inventory
1,246 1,001
Previously Owned New Construction

Months Supply
Previously Owned New Construction
6.9 6.1 4.5 4.4 6.0 4.9

245 65
All

57
Single-Family

8
Condo-Townhouse
All Single-Family Condo-Townhouse

$125,001 to $175,000
Inventory
1,595 1,407
Previously Owned New Construction

Months Supply
Previously Owned New Construction 6.8 5.5

3.6

3.6

3.5

3.2

225

172

188 53

All

Single-Family

Condo-Townhouse

All

Single-Family

Condo-Townhouse 11

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$175,001 to $250,000
Inventory
1,751 1,497
Previously Owned New Construction

Months Supply
Previously Owned New Construction 10.0

7.5

4.8

4.1

4.5 3.4

438

326

254 112

All

Single-Family

Condo-Townhouse

All

Single-Family

Condo-Townhouse

$250,001 to $400,000
Inventory
1,826 1,593
Previously Owned New Construction

Months Supply
Previously Owned New Construction 21.3

661 457 233 204
6.4

10.1 7.3 6.0 5.6

All

Single-Family

Condo-Townhouse

All

Single-Family

Condo-Townhouse 12

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$400,001 to $750,000
Inventory
1,130 1,021
Previously Owned New Construction

Months Supply
Previously Owned New Construction 28.6

572 422
9.1 12.1 8.7 10.0

16.4

109

150

All

Single-Family

Condo-Townhouse

All

Single-Family

Condo-Townhouse

$750,001 and above
Inventory
585 552
Previously Owned New Construction

Months Supply
Previously Owned New Construction 36.7

22.0

291 236

20.1 16.7

20.8

16.9

33
All Single-Family

55

Condo-Townhouse

All

Single-Family

Condo-Townhouse 13

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

Market Overview
A Monthly Indicator from the Austin Board of REALTORS® Previous Year Year-toDate 42,373 44,354 4,055 26,042 27,289 2,137 26,278 28,049 1,435 57 57 74 $183,217 $184,000 $185,000 $246,129 $246,419 $241,942 -96.2% 96.1% 93.9% -5-Year Year-toDate Average 39,547 41,586 3,458 24,427 25,904 1,889 24,029 25,931 1,395 63 64 75 $170,936 $171,100 $168,685 $224,864 $225,086 $224,223 -94.5% 94.3% 91.3% --

January 2009
New Listings Nov Dec Jan Nov Dec Jan Nov Dec Jan Nov Dec Jan Nov Dec Jan Nov Dec Jan Nov Dec Jan Nov Dec Jan Nov Dec Jan Nov Dec Jan

This Year

Previous Year 2,833 1,981 4,055 1,499 1,247 2,137 1,805 1,771 1,435 63 68 74 $184,000 $189,000 $185,000 $244,959 $250,709 $241,942 NA NA NA 94.0% 93.8% 93.9% 144 138 144 NA NA NA

Percent Change - 18.0% - 2.0% - 23.0% - 19.1% - 7.4% - 31.6% - 40.7% - 21.8% - 41.2% + 21.3% + 19.5% + 10.3% - 2.2% - 4.8% - 7.0% - 6.3% - 4.4% - 7.7% ---- 1.4% - 2.6% - 2.7% + 2.5% + 11.4% + 8.8% ----

5-Year Average 2,606 2,039 3,458 1,673 1,477 1,889 1,728 1,902 1,395 68 72 75 $169,490 $172,955 $168,685 $223,354 $227,709 $224,223 -94.8% 94.5% 94.4% 153 151 154 --

This Year Year-toDate 36,579 38,520 3,122 21,381 22,536 1,461 20,995 22,380 844 66 67 82 $188,000 $187,500 $172,000 $244,160 $243,885 $223,226 -94.8% 94.5% 94.4% --

Percent Change - 13.7% - 13.2% - 23.0% - 17.9% - 17.4% - 31.6% - 20.1% - 20.2% - 41.2% + 16.9% + 17.1% + 10.3% + 2.6% + 1.9% - 7.0% - 0.8% - 1.0% - 7.7% -- 1.5% - 1.6% + 0.5% --

Pending Sales

Closed Sales

Days on Market Until Sale

Median Sales Price

Average Sales Price

Total Active Listings Available

Percent of Original List Price

Housing Affordability Index

Months Supply of Inventory

2,324 1,941 3,122 1,212 1,155 1,461 1,071 1,385 844 76 81 82 $179,900 $179,900 $172,000 $229,648 $239,705 $223,226 10,733 10,564 10,294 92.7% 91.3% 91.3% 147 154 157 6.3 5.7 5.6

--

--

--

--

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

14

Annual Review
A free research tool from the Austin Board of REALTORS® April Closed Sales 30,293 26,892 22,042 22,042
26,892 30,293

January through April 70
$152,500

Days on Market Until Sale
67
$160,000 $171,500 67

28,049 22,380

59

57

+ 22.0%

+ 12.6%

- 7.4%

- 20.2%

- 3.1%

- 12.8%

- 2.4%

+ 17.1%

96.2%

2004

2005

96.3% 2006

96.8%

96.2%

2007

2008

2004

2005

96.3% 2006

96.8% 2007 2008

Median Sales Price
$184,000 $171,500 $152,500 $160,000

$187,500

Percent of Original List Price Received at Sale

96.2%

96.3%

96.8% 96.1% 94.3%

+ 4.9%

+ 7.2%

+ 7.3%

+ 1.9%

+ 0.1%

+ 0.5%

- 0.7%

- 1.8%

2004

2005

2006

2007

2008

2004

2005

2006

2007

2008

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®.

15

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