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
February 2010
Buyers in the Austin region were very active during February. There were 1,975 purchase agreements signed during the month, an increase of 41.4 percent from a year ago. Home prices have shown early signs of stabilizing, but remain relatively soft. The February median sales price of $181,700 was a decrease from a year ago of 3.3 percent. Soft prices have combined with extremely low mortgage rates to create an attractive environment for buyers. The Housing Affordability Index in February of 157 is an improvement of 6.6 percent from a year ago, and is up dramatically from the low point seen a few years back. This indicates favorable conditions for home buying.

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®

February
3,630 3,069 3,493

Year to Date
7,685 6,811 6,215

One Year Change:

One Year Change:

+ 13.8%
Two Year Change:

+ 9.6%
Two Year Change:

- 3.8%

- 11.4%

2008

2009

2010

2008

2009

2010

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

Jan-10

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 February January through April

Year to Date
4,146

4,146
3,528

2,011

2,011
1,397

1,975

1,975
2,735

3,528

2,735

1,397

One Year Change:

One Year Change:

+ 41.4%
Two Year Change:

29.0%
Two Year Change:

2008 2008

2009 2009

- 1.8%

2010 2010

2008 2008

2009 2009

-14.9%

2010 2010

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

Jan-10

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 February January through April
1,705
1,705

Year to Date
3,140

3,140

1,194

1,194

1,189

1,189

2,106

2,165

2,106

2,165

One Year Change:

One Year Change:

- 0.4%
Two Year Change:

+ 2.8%
Two Year Change:

2008

2009

- 30.3%

2010

2008

2009

2010

2008 2008

2009 2009

- 31.1%

2010 2010

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

Jan-10

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 February 71 71 January through April 84
84

Year to Date
73 73

83 83 72 72
75 75

One Year Change:

One Year Change:

- 14.4%
Two Year Change:

- 9.5%
Two Year Change:

2008 2008

2009 2009

+ 1.2%

2010 2010

2008 2008

2009 2009

+ 3.7%

2010 2010

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

Jan-10

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 February $180,000
$180,000

January through April $187,900
$187,900

Year to Date
$182,025

Figures do not take into account seller concessions.

$181,700

$181,700

$181,500

$182,025

$177,000

$181,500

$177,000

One Year Change:

One Year Change:

- 3.3%
Two Year Change:

- 2.5%
Two Year Change:

2008 2008

2009 2009

+ 0.9%

2010 2010

2008 2008

2009 2009

- 2.8%

2010 2010

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

Jan-10

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 February
$231,620 $231,620

January through April
$236,455 $236,455

Year to Date
$236,337 $236,337

Figures do not take into account seller concessions.

$232,834 $232,834

$231,261 $231,261

$232,168 $232,168

One Year Change:

One Year Change:

- 1.5%
Two Year Change:

+ 0.4%
Two Year Change:

2008 2008

2009 2009

+ 0.5%

2010 2010

2008 2008

2009 2009

- 1.8%

2010 2010

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

Jan-10

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®

February
100.0% 100.0%

Year to Date

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.

95.0%

94.4% 91.7%

93.5%

95.0%

94.2% 91.5%

93.4%

90.0%

90.0%

One Year Change:
85.0%

+ 2.0%
Two Year Change:

85.0%

One Year Change:

+ 2.0%
Two Year Change:

- 1.0%
80.0% 80.0%

- 0.9%

2008

2009

2010

2008

2009

2010

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

Jan-10

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 February
147 157

141

141

147

157

One Year Change:

+ 6.6%
Two Year Change:

+ 11.0%

2008
2008

2009

2010
2009 2010

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

Jan-10

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
9,039

Previously Owned New Construction

2,130

2,221

Single-Family Condo-Townhouse 2,115

1,565 1,361

847

1,200

1,266 304

371

330

322

316 178 53

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 8.7 6.7 5.8 10.8 9.1 30.5 6.5 6.4 5.2 13.5 6.1 6.6 6.2 4.8 6.8 8.4 5.0 5.4 5.7 6.4 6.8 9.0 9.8 6.3 20.9 21.5 Single-Family Condo-Townhouse All

39.8

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
1,865 1,512
Previously Owned New Construction

Months Supply
Previously Owned New Construction
7.7 6.2 5.9 6.1 5.5 6.6

353 71
All

53
Single-Family

18
Condo-Townhouse
All Single-Family Condo-Townhouse

$125,001 to $175,000
Inventory
2,236 1,948
Previously Owned New Construction

Months Supply
Previously Owned New Construction 7.4

5.2 3.8

5.0 4.4 3.6

224

182

288 42
Condo-Townhouse
All Single-Family Condo-Townhouse 11

All

Single-Family

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
2,198 1,929
Previously Owned New Construction

Months Supply
Previously Owned New Construction 8.4 8.5

5.8 4.8

5.6 4.4

345

292

269 53

All

Single-Family

Condo-Townhouse

All

Single-Family

Condo-Townhouse

$250,001 to $400,000
Inventory
2,071 1,846
Previously Owned New Construction

Months Supply
Previously Owned New Construction 14.9

10.9

7.3 5.0

6.9 4.2

360

269

225

91
All Single-Family Condo-Townhouse 12

All

Single-Family

Condo-Townhouse

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
1,219 1,104
Previously Owned New Construction

Months Supply
Previously Owned New Construction 36.0 28.2

320

257 115 63

10.0

8.9

9.4

7.5

All

Single-Family

Condo-Townhouse

All

Single-Family

Condo-Townhouse

$750,001 and above
Inventory
716 700
Previously Owned New Construction

Months Supply
Previously Owned New Construction 444.0

184

147 16 37
20.9
All

24.3

21.2

19.6

12.8
Condo-Townhouse 13

All

Single-Family

Condo-Townhouse

Single-Family

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® 5-Year Year-toDate Average 40,933 3,438 6,817 25,595 1,821 3,831 25,713 1,318 2,889 65 75 73 $177,600 $174,572 $176,105 $233,167 $231,623 $231,164 -93.4% 93.2% 93.4% --

February 2010
New Listings Dec Jan Feb Dec Jan Feb Dec Jan Feb Dec Jan Feb Dec Jan Feb Dec Jan Feb Dec Jan Feb Dec Jan Feb Dec Jan Feb Dec Jan Feb

This Year

Last Year

Percent Change + 1.5% + 5.5% + 13.8% + 2.2% + 16.1% + 41.4% + 6.2% + 7.0% - 0.4% - 2.3% - 3.3% - 14.4% + 3.4% + 0.7% - 3.3% + 3.5% + 3.1% - 1.5% ---+ 1.9% + 2.1% + 2.0% - 1.9% + 3.8% + 6.6% ----

5-Year Average 2,021 3,438 3,379 1,386 1,821 2,010 1,811 1,318 1,571 72 75 71 $179,380 $174,572 $178,320 $238,506 $231,623 $230,647 -94.1% 94.0% 94.5% 148 152 148 --

This Year Year-toDate 38,102 3,318 6,811 21,218 1,553 3,528 20,892 976 2,165 76 79 75 $185,000 $174,854 $177,000 $236,585 $231,357 $232,168 -94.1% 94.0% 94.5% --

Last Year Year-toDate 38,523 3,146 6,215 22,403 1,338 2,735 22,437 912 2,106 67 82 83 $187,500 $173,606 $181,500 $243,933 $224,460 $231,261 -94.3% 91.3% 91.5% --

Percent Change - 1.1% + 5.5% + 9.6% - 5.3% + 16.1% + 29.0% - 6.9% + 7.0% + 2.8% + 12.4% - 3.3% - 9.5% - 1.3% + 0.7% - 2.5% - 3.0% + 3.1% + 0.4% -- 0.2% + 3.0% + 3.3% --

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

1,971 3,318 3,493 1,140 1,553 1,975 1,508 976 1,189 79 79 72 $186,000 $174,854 $181,700 $249,350 $231,357 $232,834 9,366 10,744 11,809 93.1% 93.2% 93.5% 151 162 157 5.3 5.9 6.5

1,942 3,146 3,069 1,115 1,338 1,397 1,420 912 1,194 81 82 84 $179,900 $173,606 $187,900 $240,875 $224,460 $236,455 NA NA NA 91.4% 91.3% 91.7% 154 156 147 NA NA NA

--

--

--

--

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 26,891 26,891
30,293

January through April 67

Days on Market Until Sale
$184,000 $171,500 $160,000

76

28,051 22,437

28,051

67

59 20,892

57

+ 12.7%

- 7.4%

- 20.0%

- 6.9%

- 12.8%

- 2.4%

+ 17.1%

+ 12.5%

96.3%

2005

2006

96.8% 2007

96.1%

96.3%

2008

2009

2005

2006

96.8% 2007

96.1% 2008 2009

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

$187,500

Percent of Original List Price Received at Sale
$185,000

96.3%

96.8% 96.1% 94.3% 93.4%

+ 7.2%

+ 7.3%

+ 1.9%

- 1.3%

+ 0.5%

- 0.7%

- 1.8%

- 1.0%

2005

2006

2007

2008

2009

2005

2006

2007

2008

2009

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

15