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

May 2009
May saw a relatively healthy uptick in pending sales in the
New Listings 2
Austin market. The 2,344 signed purchase agreements for the Pending Sales 3
month represent only a 0.5 decline from May of 2008. That's the Closed Sales 4
best year-over-year change in 17 months; many recent months
were showing double-digit percent declines. Days On Market Until Sale 5
Median Sales Price 6
Whether this is merely a short-term blip or signs that the low
mortgage rates and $8,000 federal tax credit for first-time buyers Average Sales Price 7
is spurring buyer interest remains to be seen. Percent of Original List Price Received at Sale 8
The May median price of $190,119 is 1.0 percent below last Housing Affordability Index 9
May, a far smaller drop-off in price than most markets around Housing Supply Outlook
the country are experiencing.
All Residential Properties 10
With mortgage rates creeping back up, and the government tax Under $125,000 and $125,001 to $175,000 11
credit expiring at the end of this year, buyers have incentives to
act right now. $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®

May Year to Date

4,636
4,342
20,615
19,726
3,467
16,968

One Year One Year

Change: Change:

- 20.2% - 17.7%
Two Year Two Year
Change: Change:

- 25.2% - 14.0%

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®

AprilMay January through April

Year to Date
13,112
13,112
2,951
2,951 11,152
11,152
2,356 2,344
8,977
2,356 2,344 8,977

One Year One Year

Change: Change:
-0.5% -19.5%
Two Year Two Year
Change: Change:
-20.6% -31.5%
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®

AprilMay January through April

Year to Date
3,012 11,729
3,012
11,729

2,352 9,731
2,352 9,731

1,739 6,980
1,739 6,980

One Year One Year

Change: Change:

- 26.1% - 28.3%
Two Year Two Year
Change: Change:
- 42.3% - 40.5%
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®

AprilMay January through April

Year to Date
76 79
79
76

67
67
61
61
58
58
51
51

One Year One Year

Change: Change:
+ 24.1% + 18.2%
Two Year Two Year
Change: Change:
+ 49.6% + 36.5%
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®

AprilMay January through April

Year to Date Figures do not take into account seller concessions.
$186,500 $185,000
$192,000 $190,560 $179,000
$183,000 $186,500 $185,000
$179,000
$192,000 $190,560
$183,000

One Year One Year

Change: Change:
- 0.8% - 0.8%
Two Year Two Year
Change: Change:
+ 4.1% + 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®

AprilMay January through April

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

$255,391 $249,545
$246,295 $255,391 $249,545 $241,331 $241,757
$246,295 $241,331 $241,757 $234,115
$234,115

One Year One Year

Change: Change:
- 2.3% - 3.2%
Two Year Two Year
Change: Change:
+ 1.3% - 3.0%
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®

May 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.
97.1% 96.8%
95.7%
94.9%
95.0% 95.0%
93.4%
92.5%

90.0% 90.0%

One Year
One Year
Change:
85.0% Change:
85.0%
- 2.4%
- 2.5%
Two Year
Change: Two Year
Change:
- 3.8%
- 4.4%
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
May
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.
142 145
142 134 145
134

One Year
Change:

+ 8.6%
Two Year
Change:
+ 2.1%
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
8,740
New Construction
2,465

2,092
1,845
1,725

1,111
1,028

1,526
1,205 384 391
302 306
459 220
61

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
18.6
New Construction Condo-Townhouse
All All
48.8

11.5
10.1
29.3
26.7 27.4
7.2 6.9 7.2 6.9 6.8 18.8
5.8
12.8 13.6
11.8
8.6 7.8 8.4
4.9 6.4 5.1 4.3 4.6 5.4 5.9

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
1,333 Previously Owned
New Construction
Previously Owned
22.5
1,046 New Construction

8.3
7.3
287 6.2
5.0 4.8

80 65
15

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

$125,001 to $175,000
Inventory Months Supply
1,797 Previously Owned
Previously Owned New Construction 9.1
1,546 New Construction

7.0

4.7
4.1 4.3
3.7

234 179 251

55

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
2,101 Previously Owned New Construction
12.2
New Construction 11.8
1,791

6.3
5.8
4.4
3.8
375
301 310
74

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

$250,001 to $400,000
Inventory Months Supply
2,345 Previously Owned
2,089 Previously Owned New Construction
New Construction 20.0
18.3

9.2 8.7

511 6.1
4.9
376
256
135

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
1,551 New Construction
1,470 Previously Owned
New Construction 49.1

514 17.4
375 14.2 14.1
12.1
9.5
139
81

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

$750,001 and above

Inventory Months Supply
818 Previously Owned
798
Previously Owned New Construction 82.0
New Construction

271 27.4 27.3 27.4

230 24.4 26.7

41
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
May 2009 2009 2008
Percent
Change
5-Year
Average
Year-to-
Date
Year-to-
Date
Percent
Change
Year-to-
Date
Average
New Listings Mar 3,664 4,160 - 11.9% 4,013 9,872 11,845 - 16.7% 10,783
Apr 3,629 4,428 - 18.0% 4,137 13,501 16,273 - 17.0% 14,920
May 3,467 4,342 - 20.2% 4,130 16,968 20,615 - 17.7% 19,050
Pending Sales Mar 1,877 2,307 - 18.6% 2,452 4,622 6,457 - 28.4% 6,323
Apr 2,011 2,339 - 14.0% 2,500 6,633 8,796 - 24.6% 8,823
May 2,344 2,356 - 0.5% 2,700 8,977 11,152 - 19.5% 11,523
Closed Sales Mar 1,482 2,048 - 27.6% 2,180 3,576 5,188 - 31.1% 5,247
Apr 1,665 2,191 - 24.0% 2,202 5,241 7,379 - 29.0% 7,449
May 1,739 2,352 - 26.1% 2,509 6,980 9,731 - 28.3% 9,958
Days on Market Until Sale Mar 83 70 + 18.6% 71 83 71 + 16.2% 72
Apr 75 64 + 18.6% 64 81 69 + 16.6% 70
May 76 61 + 24.1% 62 79 67 + 18.2% 68
Median Sales Price Mar $180,000 $188,000 - 4.3% $172,500 $180,000 $184,925 - 2.7% $171,585
Apr $185,000 $185,562 - 0.3% $176,312 $181,500 $185,000 - 1.9% $173,020
May $190,560 $192,000 - 0.8% $179,026 $185,000 $186,500 - 0.8% $174,700
Average Sales Price Mar $228,055 $238,347 - 4.3% $226,551 $229,650 $237,131 - 3.2% $224,735
Apr $227,590 $238,074 - 4.4% $227,792 $228,995 $237,411 - 3.5% $225,614
May $249,545 $255,391 - 2.3% $239,125 $234,115 $241,757 - 3.2% $228,981
Total Active Listings Available Mar 11,882 NA --
Apr 12,106 NA -- -- -- -- -- --
May 11,628 NA --
Percent of Original List Price Mar 92.2% 94.4% - 2.3% 95.3% 95.3% 94.3% + 1.0% 91.8%
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%
Housing Affordability Index Mar 157 138 + 13.1% 152
Apr 154 139 + 11.2% 149 -- -- -- --
May 145 134 + 8.6% 146
Months Supply of Inventory Mar 6.7 NA --
Apr 7.0 NA -- -- -- -- -- --
May 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 22,432

+ 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