Real Estate - Austin TX Homes for Sale - Closings for residential real estate in Austin TX were up in May, by 24% compared to May 2009, with a total of $508M in inventory, being 2074 single family homes. That sounds like a great number, right?
Well, let's look at some other things going on. The median price of Austin TX actually decreased 2% in May over last year, to $192k, however, this number is up from last month April 2010 at only $190,700. Two percent is nothing to lose sleep over, as Austin is still a bargain being under $200k, on average.
A startling number to look at is that pending sales decreased 34% compared to May 2009. Why? My theory, and many other people's theories is that the tax credit expired on April 30, so people rushed and rushed to get under contract by the deadline, and then this huge sigh of relief or frustration was let out by all the buyers. Buyers who contracted in time are loving life. The buyers who didn't find a home in time are very frustrated, and many have decided to wait and calm down before moving forward again.
Even though pending sales decreased such a large number, the average days on the market for the listings in the area have gone down a whopping 20%!! That's huge! So, even though there were less sales, the homes that are on the market for buyers to chose from are selling quicker, in a mere 63 days.
So, where does that leave us here in Austin TX and the surrounding Hill Country area? It's summer, it's hot, people are on vacation, but the serious buyers are still out there. If your house is on the market, make sure it's priced and presented properly. The more obstacles a buyer has to go through to view your home, the less chance your home will be on the pending list for next month!
Call or email me today, and let's discuss your particular situation to get the best results for you. When you get serious about selling, you get top dollar!
**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.
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Copyright© 2010 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
* Real Estate - Austin TX Homes for Sale - Closings up, Pendings down * was first published on donnahomesblog.com