Over the last year the average sold price in Austin has remained relatively stable as you can see by the graph to the right.  The variance has ranged from $230,000 to $250,000 with the low occurring at the end of April 2009. 

Historically, average prices tend to increase between May and September with the market peak occurring in late July or early September.  The low point of the market tends to occur in late January or early February.  This year that low was delayed until mid March due to the effects of the Federal Tax Credit for home buyers.

Over the last year the average weekly number of homes sold  has varied from 300 to 450 with the low occurring at the end of February 2010. 

Historically, the number of homes sold tend to increase between May and September with the market peak occurring in late July or early September.  The low point of the market tends to occur in late January or early February.  This year that low was delayed due to the effects of the Federal Tax Credit for home buyers.

Over the last 90 days the average 30 year mortgage rate has been near historical lows.  The variance has ranged from 4.75% to 5.38% with the low occurring in early March. 

This graph shows the 5 year price trend for homes in Austin.  So for in 2010 we are trending very close to 2009 prices.  However, Austin still isn't too far off of historical highs.  As you can see from the graph, prices tend to oscillate throughout the year with the highs occurring in August and September and the lows occurring in between January and March.

Data source:  Austin MLS

This graph shows the 5 year weekly average of the number of homes sold in Austin.  So for in 2010 we are trending very close to 2008 volumes and are ahead of 2009 numbers.  Austin is about 20% below the peak volumes that were seen in 2006.  As you can see from the graph, volume tends to oscillate throughout the year with the highs occurring in August and September and the lows occurring in between February and March.

Data source:  Austin MLS

This graph shows the 10 year price trend for homes in Austin.  So for in 2010 we are trending very close to 2009 prices.  However, Austin still isn't to far off of historical highs.  The rapid increases in 1999 and 2006 came at times of peak population increases in Austin and were driven by a strong jobs economy.

You also may notice the gap between the median and average price has expanded over the last 10 years.

Data source:  Austin MLS

Over the past 10 years Austin has shown some up and down in the number of homes sold, however, the long term trend line is still heading up.  An anomaly occurred in 2001 when sales sky rocketed and nearly doubled the previous year.  While volume was strong, prices were flat in 2001 mostly driven by attractive interest rates and an abundance of new construction. 

This year, look for sales numbers to end up near 2009 volume numbers. 



 

This graph shows the 10 year total gross sales volume in dollars for the Austin real estate market.  The $7.2B peak occurred in 2001.  Both 2006 and 2007 numbers were very near the peak at $6.9B and $6.8B respectively. 

In 2009, there was $4.9B in total gross homes sales.  Expect 2010 numbers to be near 2009 numbers.

Data source:  Austin MLS