Here are the latest stats on the Austin real estate market for the month of December 2008. Thanks to Alamo Title for compiling and sharing.
Units for Sale in Austin: (compared to December 2007)
New listings were down 12.84%.
Pendings were up 34.86%.
Solds decreased by 16.01%.
Average Austin Real Estate Prices:
The "New Listings" average list price is up 2.36% to 300,316. In December 2007 the average list price was $293,392.
Sold average sales prices decreased 5.66% to $238,867. For December 2007 it was $253,205.
We had 9,929 active listings during the same week in 2007. Today there is 10,097 active listings. That is 3.78% increase from last year. Total inventory for Austin area MLS is 5.77 months - still hovering at the equilibrium between buyer/seller market.