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A free research tool from the Austin Board of REALTORS®

brought to you by the unique data-sharing traditions of the REALTOR® community

Residential Sales Report


June 2009
June saw another relatively healthy month for buyer activity in
New Listings 2
the Austin region as the number of signed purchase agreements Pending Sales 3
was 2,323, an increase of 6.1 percent from last June. Whether Closed Sales 4
this is merely a short-term blip or signs that the low mortgage
rates and $8,000 federal tax credit for first-time buyers is Days On Market Until Sale 5
spurring buyer interest remains to be seen. Median Sales Price 6
Prices continue to hold relatively steady -- a remarkable feat Average Sales Price 7
considering the large declines that other metro areas around the Percent of Original List Price Received at Sale 8
country are currently experiencing. The June median price of
$196,000 is dead even with last June. Housing Affordability Index 9
Housing Supply Outlook
Sellers still face a challenging environment, however, as the
Average Days on Market Until Sale continues to grow and the All Residential Properties 10
Percent of Original List Price Received at Sale continues to Under $125,000 and $125,001 to $175,000 11
decline. Smart pricing and marketing are essential for home
sellers. $175,001 to $250,000 and $250,001 to $400,000 12
$400,001 to $750,000 and $750,001 and above 13
Market Overview 14
Annual Review 15

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 1
New Listings
A Monthly Indicator from the Austin Board of REALTORS®

June Year to Date

4,463
4,088 24,703
24,189
3,647
20,622

One Year One Year


Change: Change:

- 10.8% - 16.5%
Two Year Two Year
Change: Change:

- 18.3% - 14.7%

2007 2008 2009 2007 2008 2009

Historical Market Activity


5,000
New Listings
4,500 Pending Sales
Closed Sales
4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 2
Pending Sales
A Monthly Indicator from the Austin Board of REALTORS®

January through April


June
April Year to Date
2,854
2,854 15,966
15,966
2,323
2,189 13,339
2,323 13,339
2,189
11,142
11,142

One Year One Year


Change: Change:
6.1% -16.5%
Two Year Two Year
Change: Change:
-18.6% -30.2%
2007 2008 2009 2007 2008 2009
2007 2008 2009 2007 2008 2009

Historical Market Activity


5,000
New Listings
4,500 Pending Sales
Closed Sales
4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 3
Closed Sales
A Monthly Indicator from the Austin Board of REALTORS®

AprilJune January through April


Year to Date
14,817
3,088 14,817
3,088
12,152
2,421 12,152
2,421
2,147
2,147 9,235
9,235

One Year One Year


Change: Change:

- 11.3% - 24.0%
Two Year Two Year
Change: Change:
- 30.5% - 37.7%
2007 2008 2009 2007 2008 2009
2007 2008 2009 2007 2008 2009

Historical Market Activity


5,000
New Listings
4,500 Pending Sales
Closed Sales
4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 4
Days on Market Until Sale
A Monthly Indicator from the Austin Board of REALTORS®

January through April


June
April Year to Date
77
77 79
79

66
66
61
61
57
57
51
51

One Year One Year


Change: Change:
+ 25.4% + 19.1%
Two Year Two Year
Change: Change:
+ 51.8% + 38.8%
2007 2008 2009 2007 2008 2009
2007 2008 2009 2007 2008 2009

Historical Days on Market Until Sale


90

80

70

60

50

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 5
Median Sales Price
A Monthly Indicator from the Austin Board of REALTORS®

January through April


June
April Year to Date Figures do not take into account seller concessions.
$196,000 $196,000 $188,700 $187,500
$190,000 $181,320
$188,700 $187,500
$181,320
$190,000 $196,000 $196,000

One Year One Year


Change: Change:
- 0.0% - 0.6%
Two Year Two Year
Change: Change:
+ 3.2% + 3.4%
2007 2008 2009 2007 2008 2009
2007 2008 2009 2007 2008 2009

Historical Median Prices


$200,000

$190,000

$180,000

$170,000

$160,000

$150,000

$140,000

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 6
Average Sales Price
A Monthly Indicator from the Austin Board of REALTORS®

January through April


June
April Year to Date Figures do not take into account seller concessions.

$253,639 $254,331
$253,639 $254,331 $246,844
$246,844 $243,896 $244,262
$243,896 $244,262 $236,763
$236,763

One Year One Year


Change: Change:
- 2.9% - 3.1%
Two Year Two Year
Change: Change:
- 2.7% - 2.9%
2007 2008 2009 2007 2008 2009
2007 2008 2009 2007 2008 2009

Historical Average Prices


$260,000

$240,000

$220,000

$200,000

$180,000

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 7
Percent of Original List Price Received at Sale
A Monthly Indicator from the Austin Board of REALTORS®

June Year to Date The Percent of Original List Price Received at Sale is calculated by comparing
the final sales prices of closed sales to their original list prices. This does not
100.0% 100.0% account for list prices from any previous listing contracts. The sales price does
not account for seller concessions.
97.2% 96.9%
95.3% 95.0%
95.0%
93.6% 95.0%
92.7%

90.0% 90.0%

One Year
One Year
Change:
85.0% Change:
85.0%
- 1.8%
- 2.3%
Two Year
Change: Two Year
Change:
- 3.7%
- 4.3%
80.0% 80.0%

2007 2008 2009 2007 2008 2009

Historical Percent of Original List Price Received at Sale


100.0%

95.0%

90.0%

85.0%

80.0%

Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 8
Housing Affordability Index
A Monthly Indicator from the Austin Board of REALTORS®

The HAI formula measures housing affordability for the Austin Housing Market. An HAI of 120 means
June
April the median family income is 120% of the necessary income to qualify for the median priced home using
a 20% down, 30-year fixed rate mortgage.
142
134 142
134 129
129

One Year
Change:

+ 9.9%
Two Year
Change:
+ 5.8%
2007 2008 2009
2007 2008 2009

Historical Housing Affordability Index


180

170

160

150

140

130

120

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 9
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Inventory of Active Listings


Single-Family
Previously Owned Condo-Townhouse
8,849
New Construction
2,499

2,067
1,870
1,685

1,086 1,071

1,429 1,229 375 411


325 291
453 216
64

Single-Family Condo-Townhouse Up to $125,000 $125,001 to $175,000 $175,001 to $250,000 $250,001 to $400,000 $400,001 to $750,000 $750,001 and above

Months Supply of Inventory


Previously Owned Single-Family
New Construction Condo-Townhouse
All All
59.1
19.1

11.9 34.6
10.4 28.4 29.2

7.3 7.2 7.0 6.8 19.4


6.7
5.5 13.2 14.1
12.2
7.0 8.1 7.9 8.6
4.7 5.1 4.2 4.5 5.3 5.8

Up to $125,000 $125,001 to $175,001 to $250,001 to $400,001 and $750,001 and


All Single-Family Condo-Townhouse $175,000 $250,000 $400,000 above above

A market is considered balanced between buyers and sellers when there is roughly a 5 to 6-month supply of homes available for purchase

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 10
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Under $125,000
Inventory Months Supply
Previously Owned
New Construction
1,338 Previously Owned 22.8
New Construction

1,032

7.7
6.2 6.7
306 5.0 4.6

73 54 19

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$125,001 to $175,000
Inventory Months Supply
Previously Owned
1,788
Previously Owned New Construction
8.8
1,539 New Construction

5.5
4.7
4.3
3.3
3.0

188 249
146
42

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 11
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$175,001 to $250,000
Inventory Months Supply
Previously Owned
Previously Owned New Construction
2,069 13.9
New Construction
1,767 11.9

6.2 5.7
4.5
3.9
373
300 302
73

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$250,001 to $400,000
Inventory Months Supply
Previously Owned
Previously Owned New Construction
2,429
New Construction
2,157 19.7 19.0

9.5 8.9

5.8
481 4.5
342
272
139

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 12
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$400,001 to $750,000
Inventory Months Supply
Previously Owned
1,590 New Construction 56.3
1,510 Previously Owned
New Construction

20.9
496
14.9 14.7
360 12.0
9.2
136
80

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$750,001 and above


Inventory Months Supply
Previously Owned
864 844 New Construction
Previously Owned 176.0
New Construction

271
227
29.5 28.3 29.7 24.3 24.0
44
20

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 13
Market Overview
A Monthly Indicator from the Austin Board of REALTORS®

5-Year
2009 2008
Percent 5-Year Percent Year-to-
June 2009 2009 2008
Change Average
Year-to-
Date
Year-to-
Date
Change Date
Average
New Listings Apr 3,631 4,428 - 18.0% 4,137 13,506 16,273 - 17.0% 14,921
May 3,469 4,342 - 20.1% 4,130 16,975 20,615 - 17.7% 19,051
Jun 3,647 4,088 - 10.8% 4,114 20,622 24,703 - 16.5% 23,165
Pending Sales Apr 1,987 2,339 - 15.0% 2,495 6,584 8,794 - 25.1% 8,813
May 2,235 2,356 - 5.1% 2,678 8,819 11,150 - 20.9% 11,491
Jun 2,323 2,189 + 6.1% 2,652 11,142 13,339 - 16.5% 14,143
Closed Sales Apr 1,682 2,191 - 23.2% 2,205 5,265 7,379 - 28.6% 7,454
May 1,823 2,352 - 22.5% 2,526 7,088 9,731 - 27.2% 9,980
Jun 2,147 2,421 - 11.3% 2,739 9,235 12,152 - 24.0% 12,718
Days on Market Until Sale Apr 75 64 + 18.1% 64 80 69 + 16.4% 70
May 76 61 + 23.0% 62 79 67 + 17.8% 68
Jun 77 61 + 25.4% 61 79 66 + 19.1% 66
Median Sales Price Apr $185,300 $185,562 - 0.1% $176,372 $181,000 $185,000 - 2.2% $172,920
May $190,000 $192,000 - 1.0% $178,914 $185,000 $186,500 - 0.8% $174,700
Jun $196,000 $196,000 - 0.0% $184,400 $187,500 $188,700 - 0.6% $176,884
Average Sales Price Apr $227,547 $238,074 - 4.4% $227,783 $228,856 $237,411 - 3.6% $225,586
May $247,725 $255,391 - 3.0% $238,761 $233,709 $241,757 - 3.3% $228,900
Jun $246,844 $254,331 - 2.9% $239,843 $236,763 $244,262 - 3.1% $231,261
Total Active Listings Available Apr 12,327 NA --
May 12,136 NA -- -- -- -- -- --
Jun 11,795 NA --
Percent of Original List Price Apr 92.9% 95.4% - 2.6% 95.8% 95.8% 94.6% + 1.2% 92.1%
May 93.4% 95.7% - 2.4% 96.1% 96.1% 94.9% + 1.3% 92.5%
Jun 93.6% 95.3% - 1.8% 96.0% 96.0% 95.0% + 1.2% 92.7%
Housing Affordability Index Apr 154 139 + 11.1% 149
May 146 134 + 8.8% 146 -- -- -- --
Jun 142 129 + 9.9% 141
Months Supply of Inventory Apr 7.1 NA --
May 7.4 NA -- -- -- -- -- --
Jun 7.2 NA --

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 14
Annual Review
A free research tool from the Austin Board of REALTORS®

January through April


Closed
April Sales Days on Market Until Sale
30,292 30,292 70 $171,500 67
67
28,050 $160,000
26,890 26,890 $152,500
59 57
22,044 22,044 22,433

+ 22.0% + 12.7% - 7.4% - 20.0% - 3.1% - 12.7% - 2.4% + 17.1%

96.2% 96.3% 96.8% 96.2% 96.3% 96.8%


2004 2005 2006 2007 2008 2004 2005 2006 2007 2008

Median Sales Price Percent of Original List Price Received at Sale


$184,000 $187,500
$171,500
$160,000
$152,500
96.8%
96.2% 96.3% 96.1%

94.3%

+ 4.9% + 7.2% + 7.3% + 1.9%


+ 0.1% + 0.5% - 0.7% - 1.8%

2004 2005 2006 2007 2008 2004 2005 2006 2007 2008

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 15