Austin Real Estate Blog

The January stats for the Austin Real Estate Market are out. Not surprisingly median prices were up 5 percent from this time last year going from $166,050 to $175,000. The average price went from 226,167 in January 2006 to 242,718 in January 2007.

The number of houses on the market was down 3 percent from 7143 to 6956. This is part of the problem we have been facing recently. There are not alot of properties on the market. This is especially true in central Austin. With alot of people looking at the same properties we have been seeing more multiple offer situations. In fact, our last 3 contracts have all been multiple offer situations. Personally I like it when the market is kind of calm.

The number of sales in January went down 6 percent from last year from 1543 to 1452. I think this might be influenced by the ice storm in January, which delayed alot of inspections and pushed some closings into February. The number of pending sales was up from 1942 last year to 2168 in January 2007.

One interesting statistic I have been watching is the number of houses in mls areas 1b,2,4,6,7 under 200k. Last year there were usually around 30 to 35 houses at any given time that met this criteria. As of today, their are 8 properties in these areas under 200k. Basically we are seeing the gradual elimination of homes in these areas for under 200k.

As we mentioned earlier, the number of houses for sale in Austin is down 3 percent compared to last year. The number of houses in central Austin is down even more from 1040 in January 2006 to 886 in January 2007. Below is a breakdown of the mls areas in central Austin.

For more Austin Real Estate Statistics.