Austin Real Estate Blog

The June statistics show that we are still in the midst of a strong market. Let’s look through each of these statistics one at a time. Single Family Sales are at 2721 for June. Last year at this time we had 2426 sales. So we have had an increase of about 11 percent in sales. There are different factors driving this but one is certainly people from California and Florida moving to Austin.

The number of active single family listings again shows a pretty tight supply. In July we had 8368 houses active on the market. Historically that is pretty low. Compared to last year we had 8871 single family listings. The year before, we had 10053 active single family listings.

One way to combine both of these statistics is to look at the number of months of supply we have sitting on the market. This is done by dividing the number of properties on the market by the number of sales. In 2004 we had a supply of 4.61 months sitting on the market. In 2005 which at the time we thought was a pretty strong market, we had a supply of 3.66 months sitting on the market. In June 2006 we had a supply of 3.08 months sitting on the market.

As one would expect the median price went up as well. The median price was 178,190 for July 2006 compared to 169,900 in July 2005 and 161,000 in July 2004.

Before anyone gets too excited 178k represents the average for houses in the entire Austin area. The prices for homes in the central Austin area are going to be much higher than the average for the entire market. While homes on the outskirts of Austin such as Round Rock and Pflugerville are lower. If we look at homes in mls areas 1b,2,4,6,7 we see the average sales price at 364,991. If we look at some particular subdivisions we see even higher average prices Austin Real Estate Prices by subdivision.