October housing statisics released - Austin Real Estate Market continues to stay strong
So the October stats are in. Compared to this time last year the Austin market seems strong. What I found the most interesting is that the number of active listings currently on the market is not only lower than the number of active listings we had this time last year but its lower than any month in the last two years. This seems to reflect what I have been seeing in that there is just not much out there right now. I remember 2 or 3 years ago there was always a handful of duplexes on the market in Crestview/Brentwood. Now one comes up every so often and sells quickly.
For other stats. The median price is up from this time last year. October 2005 was $160,650 from $151,290. The number of sales is up from last year as well October 2005 had 1999 single family sales while October 2004 had 1576. The number of sales from last month is down which is typically since activity usually slows in the winter and heats up in the summer.
If you want to look at historical stats for the last two years they are located here
Austin Real Estate Market Statistics .
Here are the statistics for October for 2005 and 2004. Compared to last year the median price is up 6 percent.
| Single Family Median Price | Active Single Family Listings on the Market | |
| October 2005 | $160,650 | 7654 |
| October 2004 | $151,290 | 9255 |
| Permalink
Copyright 2005-2007
Comments
Also, you might note that the Austin market is considered slightly undervalued from a national perspective which should continue to fuel growth in the sector.
Posted by: Mark | December 13, 2005 11:18 AM
What are your thoughts on purchasing something in the Austin market w/ the intention of renting the property out right now? Where's the sweet spot for this? What kind of property (condo, townhome, loft, single family home)? Looking for something that is at a minimum cash neutral and will appreciate reasonably well...
Posted by: Robert | December 14, 2005 08:54 PM