Austin Real Estate Blog

Austin Neighborhood Prices for 2005

So I calculated out the average prices for some different Austin Neighborhoods for the last 6 months for 2005. I looked at 22 neighborhoods most in the center Austin Area. About 6 months ago I calculated out the average prices for the first half of 2005. So what has changed. In 18 of the 22 neighborhoods looked at prices went up. Things were still moving fairly quickly for the last half of 2005. For the first half of 2005, in 17 of the 22 neighborhoods looked at the average house sold for less than 70 days. In the last half of 2005, in 20 of the 22 the neighborhoods looked at the average houses sold in less than 70 days. The full details can be seen here.

Austin Neighborhood Prices

On a larger scale I looked at some of the different MLS areas in the central Austin Area. The seven MLS areas I looked at were 1a, 1b, 2, 4, 6, 7, 8e. I did the same thing breaking it into the first half of 2005 and the second half of 2005. The average house price went up in all the MLS areas I looked at. MLS area 7 went up the most with the average price increasing 8.7 percent from the first half of 2005 to the second half. MLS area 8e went up the least going up 1.3 percent. Basically this continues the trend of rising prices in south Austin that we have been seeing for awhile.

If you want to see the complete stats they are available here
Austin MLS Prices

So what is going on currently. I’m not totally sure. Personally it might be nice if houses continue to appreciate but the market slows down. People think realtors love hot markets but its kind of annoying. There are a lot of multiple offer situations. Additionally, its nice if people can look at a number of houses and have some time to find a house that suits them instead of feeling pressured to make an offer.