The counts are in for July 2009 and ABOR has posted the MLS results for Austin Real Estate sales.
July 2009 Statistics
$508,810,549 was the dollar volume of single-family properties sold
$191,500 was the median price, a two percent decrease from one year ago
$245,921 was the average sales price, a 4 percent decrease from one year ago
2,069 was the number of homes sold, unchanged from July 2008
According to Jay Gohil, chairman of ABOR: “The sales volume momentum in Austin continues, now reaching 2008 levels. That’s good news, but I think it’s even better news that we’ve achieved that increase while maintaining a steady median home price. Throughout 2009, the median price has fluctuated only slightly compared to 2008. Looking back further, prices have remained above 2007 levels, one of the most lucrative years of the last decade in Austin real estate. That long-term price stability, particularly in the face of market fluctuations, bodes well for Austin’s future.”
Personally, I think the the surge in home sales this past month that finally puts us equal to 2008 (we have been dramatically behind until now) is the result of the first time home buyer credit. First time home buyers only have 2 months to find their houses in order to meet the December 1st closing deadline.