Austin TX Homes for Sale are selling strong, and getting stronger. Texas, as a whole, didn't see price bubbles like the rest of the country. Texas also didn't see massive price drops like the rest of the country either. Both very good things. It's good to be in a stabilized area.
Even though Austin TX homes for sale are going strong right now, and over the past few months, it's interesting to look at the numbers from a different perspective.
Here is a chart provided by the Austin Board of Realtors for January 2009:
Here is a chart provided for July 2009:
What do these two charts say on the surface? On the surface, they say that the median home price has INCREASED from $175,500 in January to $191,500 in July. The average prices of homes in Austin have gone from $231,158 up to $256,526.
So, on the surface, it shows we have had great appreciation over the past 7 months...
But are these surface numbers telling the full story? Look at how many homes sold in January 2009 compared to 2008. Significantly less. Approximately 36% less. And then, compare July's. July sold 1 more home in 2009 compared to 2008.
These numbers also tell you that July 2008 had an increase over 2009.
With that, it is fair to compare home sales month to month? We all know that the Winter months are traditionally slower selling months just because people are involved in holidays, family stuff, and then waiting to get their W2's for the previous year.
Let's stop looking at sales on a month to month basis because there are always going to be the typical changes from season to season.
What is interesting to note is that there is less of a sales difference between the July sales of 2008 and 2009 compared to the January sales.
We might have gone down a little, but keep in mind that it's the lower-end home owners who are taking advantage of the lower rates right now and they're selling their homes to upgrade to larger homes. More than likely, the people in the higher priced homes are staying put for right now and there are less of their sales to take into consideration for averages and median numbers.
And another way to look at the numbers is that only 834 homes were sold in January compared to 2069 homes sold in July... that looks like consumer confidence is up to me, doesn't it to you?
**Are You Packed Yet?**
Austin TX Real Estate and the
surrounding areas of Lakeway, Bee Cave, West Lake Hills, Cedar Park,
Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in
between... Hill Country Austin TX Real Estate and beyond. Whether you're buying or selling an Austin home, I'll be with you every step of the way.
** #1 Agent in my Office for all of 2008 **
All my blog posts were first published on donnahomesblog.com.
Copyright© 2009 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
* Real Estate - Austin TX Homes for Sale are Selling Strong *