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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


March 2009
New listings continue to decrease, helping contract overall
New Listings 2
inventory. The year-over-year decrease for March was 12.0 Pending Sales 3
percent, down to 3,660. Year to date, new listings are behind Closed Sales 4
last year’s pace by 16.7 percent. With home sales in decline,
this is welcome news. Pending and closed sales are also trailing Days On Market Until Sale 5
last year by 12.8 and 31.2 percent respectively in March. Median Sales Price 6
As buyer demand declines, Days on Market Until Sale has Average Sales Price 7
increased. The current March mark of 83 days is 19.1 percent Percent of Original List Price Received at Sale 8
above what it was last March. For similar reasons, home prices
are trending downward. The March median sale price of Housing Affordability Index 9
$179,900 is 4.3 percent less than last March, and the average Housing Supply Outlook
sale price of $229,086 is 3.9 percent less.
All Residential Properties 10
Fortunately, these soft prices have combined with recent Under $125,000 and $125,001 to $175,000 11
plunges in mortgage rates to dramatically strengthen the
region’s affordability picture. The Housing Affordability Index for $175,001 to $250,000 and $250,001 to $400,000 12
March of 157 is up 13.1 percent change from last March’s mark $400,001 to $750,000 and $750,001 and above 13
of 138. This means that the median family income in the region
is 157 percent of what’s necessary to qualify for the median Market Overview 14
priced home. 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®

March Year to Date


4,232 4,160

3,660 11,845
10,694
9,863

One Year One Year


Change: Change:

- 12.0% - 16.7%
Two Year Two Year
Change: Change:

- 13.5% - 7.8%

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


March
April Year to Date
2,807
7,274
2,807 7,274
6,461
2,311 6,461
2,311
2,015
2,015 4,809
4,809

One Year One Year


Change: Change:
-12.8% -25.6%
Two Year Two Year
Change: Change:
-28.2% -33.9%
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®

January through April


March
April Year to Date
2,602 6,150
2,602 6,150
5,188
2,048 5,188
2,048

3,468
1,410
1,410 3,468

One Year One Year


Change: Change:

- 31.2% - 33.2%
Two Year Two Year
Change: Change:
- 45.8% - 43.6%
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


March
April Year to Date
83
83 83
83

70
70 71
71
63
63
59
59

One Year One Year


Change: Change:
+ 19.1% + 16.4%
Two Year Two Year
Change: Change:
+ 39.7% + 31.4%
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


March
April Year to Date Figures do not take into account seller concessions.
$188,000 $184,925
$176,500 $188,000 $179,990 $175,500 $180,000
$176,500 $179,990 $184,925
$175,500 $180,000

One Year One Year


Change: Change:
- 4.3% - 2.7%
Two Year Two Year
Change: Change:
+ 2.0% + 2.6%
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


March
April Year to Date Figures do not take into account seller concessions.
$237,838
$237,838 $237,131
$237,131 $230,516
$230,516
$241,628 $238,347
$241,628 $238,347 $229,086
$229,086

One Year One Year


Change: Change:
- 3.9% - 2.8%
Two Year Two Year
Change: Change:
- 5.2% - 3.1%
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®

March 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.
96.8% 96.4%

95.0%
94.4% 94.3%
95.0%

92.2%
91.8%

90.0% 90.0%

One Year
One Year
Change:
85.0% Change:
85.0%
- 2.3%
- 2.6%
Two Year
Change: Two Year
Change:
- 4.7%
- 4.8%
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
March
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.
157
148 157
148 138
138

One Year
Change:

+ 13.1%
Two Year
Change:
+ 6.2%
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
8,128 Previously Owned 2,372 Condo-Townhouse
New Construction

1,946

1,699
1,641

1,056
976

1,562
1,116 354 409
257 277 238
482
63

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 18.1 Condo-Townhouse
42.0
All All

27.5
10.6 24.0 24.6
9.0
17.0
6.5 6.9 6.6 6.3 6.2
5.8 11.4 12.3
10.8
7.3 7.2 7.9
4.6 5.6 4.7 3.9 4.2 5.0 5.4

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
1,241 New Construction
Previously Owned 16.5
New Construction
995

7.2
6.5
5.4
4.7 4.5
246

72 61
11

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

$125,001 to $175,000
Inventory Months Supply
1,713 Previously Owned
1,498 Previously Owned New Construction 8.2
New Construction
7.0

4.3 4.0
3.7
3.0

205 215
143
62

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
1,921 New Construction 11.7
10.6
1,642

5.7
5.3
4.2
3.6
379
304 279
75

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

$250,001 to $400,000
Inventory Months Supply
Previously Owned
2,224
Previously Owned New Construction
1,967 New Construction 20.5

15.5

8.4 7.9
557 6.4
5.1
405
257
152

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
1,397 New Construction
1,298 Previously Owned 35.5
New Construction

20.8

540
12.2 12.5 11.8
401 10.2

139
99

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

$750,001 and above


Inventory Months Supply
748 728 Previously Owned
New Construction 64.5
Previously Owned
New Construction

291 25.9
248 24.1 24.1 23.4 24.0

43
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
March 2009 2009 2008
Percent
Change
5-Year
Average
Year-to-
Date
Year-to-
Date
Percent
Change
Year-to-
Date
Average
New Listings Jan 3,137 4,055 - 22.6% 3,461 3,137 4,055 - 22.6% 3,461
Feb 3,066 3,630 - 15.5% 3,309 6,203 7,685 - 19.3% 6,769
Mar 3,660 4,160 - 12.0% 4,012 9,863 11,845 - 16.7% 10,781
Pending Sales Jan 1,349 2,136 - 36.8% 1,867 1,349 2,136 - 36.8% 1,867
Feb 1,445 2,014 - 28.3% 2,015 2,794 4,150 - 32.7% 3,881
Mar 2,015 2,311 - 12.8% 2,480 4,809 6,461 - 25.6% 6,361
Closed Sales Jan 890 1,435 - 38.0% 1,404 890 1,435 - 38.0% 1,404
Feb 1,168 1,705 - 31.5% 1,656 2,058 3,140 - 34.5% 3,060
Mar 1,410 2,048 - 31.2% 2,165 3,468 5,188 - 33.2% 5,226
Days on Market Until Sale Jan 83 74 + 11.6% 75 83 74 + 11.6% 75
Feb 83 71 + 17.4% 72 83 72 + 14.7% 73
Mar 83 70 + 19.1% 71 83 71 + 16.4% 72
Median Sales Price Jan $174,500 $185,000 - 5.7% $169,185 $174,500 $185,000 - 5.7% $169,185
Feb $187,500 $180,000 + 4.2% $173,150 $182,000 $182,025 - 0.0% $171,257
Mar $179,990 $188,000 - 4.3% $172,498 $180,000 $184,925 - 2.7% $171,585
Average Sales Price Jan $224,484 $241,942 - 7.2% $224,475 $224,484 $241,942 - 7.2% $224,475
Feb $236,837 $231,620 + 2.3% $222,658 $231,495 $236,337 - 2.0% $223,566
Mar $229,086 $238,347 - 3.9% $226,757 $230,516 $237,131 - 2.8% $224,905
Total Active Listings Available Jan 11,184 NA --
Feb 11,477 NA -- -- -- -- -- --
Mar 11,312 NA --
Percent of Original List Price Jan 91.2% 93.9% - 2.8% 94.3% 94.3% 93.9% + 0.5% 91.2%
Feb 91.7% 94.4% - 2.9% 94.9% 94.9% 94.2% + 0.8% 91.5%
Mar 92.2% 94.4% - 2.3% 95.3% 95.3% 94.3% + 1.1% 91.8%
Housing Affordability Index Jan 155 144 + 7.5% 154
Feb 147 141 + 4.3% 149 -- -- -- --
Mar 157 138 + 13.1% 152
Months Supply of Inventory Jan 5.9 NA --
Feb 6.2 NA -- -- -- -- -- --
Mar 6.5 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
30,293 30,293 70 $171,500 67
67
28,049 $160,000
26,891 26,891 $152,500
59 57
22,044 22,044 22,425

+ 22.0% + 12.7% - 7.4% - 20.1% - 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