Austin Real Estate Stats - July 2011
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Transcript of Austin Real Estate Stats - July 2011
8/4/2019 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
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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
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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+ / –
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%
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 | 3
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+ / –
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%
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 | 4
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+ / –
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%
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 | 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
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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+ / –
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%
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 | 6
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+ / –
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%
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 | 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+ / –
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%
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 | 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
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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%
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 | 9
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+ / –
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
.- . . .
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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+ / –
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%
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
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+ / –
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%
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
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