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What is up with the Austin Real Estate Market

To start off with I dont know. The November stats are out. There are only 7173 properties on the market. There are less properties on the market than their have been in the last two years. While part of this is because November is usually a slow month there were 8377 properties on the market last year at this time. Prices have gone up as well

 Single Family Median PriceActive Single Family Listings on the Market
November 2005 $170,000 7173
November 2004 $147,900 8377

If you want to look at more detailed statistics for the last two years they are located here

Austin Real Estate Market Statistics .

Over the last few years Florida and California have been climbing pretty rapidly while the Austin market has been pretty tame. Values have increased only 18 percent over the last 5 years. But recently Austin has seen some positive movement. In addition the December 2005 issue of Smart Money showed Austin as Undervalued. And yes California cities took most of the top spots for being overvalued. The city of Salina California topped the list being rated as 97 percent overvalued. Homes in Salinas have increased 122 percent in the last few years.

So all that seems rather positive. So I feel on one hand I should be excited. And thinking I will be able to sell my properties for twice their purchase price. The problem is I dont know what is pushing prices upward. And therefore I cant determine if this is a temporary surge in prices or a sign of things to come.


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