A free research tool from the Austin Board of REALTORS®

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Residential Sales Report

June 2010
Think global, act local. With European debt crises, oil spills and New Listings 2
disappointing job growth figures putting stress on the stock market,
the local housing market didn’t fare much better. Pending Sales 3
Cl
Closed
d Sales
S l 4
Buyers remained hesitant during June, as Pending Sales posted a
15.2 percent decrease from last year. Many would-be June buyers Days On Market Until Sale 5
already bought during the credit period. Median Sales Price 6
Due to slow pendings, inventory levels increased 24.5 percent Average Sales Price 7
compared to last year, yet prices still managed to move up. The
Percent of Original List Price Received at Sale 8
Median Sales Price for June of $200,436 was a 2.8 percent
increase over last year. Negotiations inched back toward the sellers Housing Affordability Index 9
by just under a percent to arrive at 94.1 percent of their original list
price. Market times decreased 12.8 percent to 67 days, while
Housing Supply Outlook
Months Supply decreased 7.3 percent to 7.8 months. All Residential Properties 10
Expect closings to receive a slight boost as Congress recently
Under $125,000 and $125,001 to $175,000 11
extended the closing date to September 30 for tax credit buyers, $175,001 to $250,000 and $250,001 to $400,000 12
and expect the market to stay flat or post minor improvements over
the near term.
$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 10K Research and Marketing. 1
 New Listings
A Monthly Indicator from the Austin Board of REALTORS®

June Year to Date

4,088
3,787
3,650 24,703
23,706
20,639

One Year One Year

Change: Change:

+ 3.8% + 14.9%
Two Year Two Year
Change: Change:

- 7.4% - 4.0%

2008 2009 2010 2008 2009 2010

Historical Market Activity

5,500

New Listings Pending Sales Closed Sales

5,000

4,500

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 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 2
 Pending Sales
A Monthly Indicator from the Austin Board of REALTORS®

June January through April

April Year to Date
13,332
13,332
2,187 2,150 12,017
2,187 2,150 12,017
10,877
1,823 10,877
1,823

One Year One Year

Change: Change:
- 15.2% 10.5%
Two Year Two Year
Change: Change:
- 16.6% -9.9%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Market Activity

5,000

New Listings Pending Sales Closed Sales

4,500

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 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 3
 Closed Sales
A Monthly Indicator from the Austin Board of REALTORS®

June January through April

April Year to Date
12,153
2,421 12,153
2,421 2,272 10,854
2,272 10,854
2,077 9,456
2,077
9,456

One Year One Year

Change: Change:

- 8.6% + 14.8%
Two Year Two Year
Change: Change:
- 14.2% - 10.7%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Market Activity

5,500

New Listings Pending Sales Closed Sales

5,000

4,500

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 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 4
Days on Market Until Sale
A Monthly Indicator from the Austin Board of REALTORS®

June January through April

April Year to Date
76
76 79
79

67
67 66 68
68
66
61
61

One Year One Year

Change: Change:
- 12.8% - 13.7%
Two Year Two Year
Change: Change:
+ 8.5% + 2.6%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

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 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 5
 Median Sales Price
A Monthly Indicator from the Austin Board of REALTORS®

June January through April

April Year to Date Figures do not take into account seller concessions.
$196,000 $195,000 $188,700 $187,000 $185,000
$188,700 $187,000 $185,000
$196,000 $195,000 $200,436

One Year One Year

Change: Change:
+ 2.8% - 1.1%
Two Year Two Year
Change: Change:
+ 2.3% - 2.0%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Median Prices

$210,000

$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 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 6
 Average Sales Price
A Monthly Indicator from the Austin Board of REALTORS®

June January through April

April Year to Date Figures do not take into account seller concessions.
$328,976
$328,976
$244,274 $250,658
$244,274 $236,423 $250,658
$236,423
$254,512
$254,512 $245,015
$245,015

One Year One Year

Change: Change:
+ 34.3% + 6.0%
Two Year Two Year
Change: Change:
+ 29.3% + 2.6%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

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 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 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 account for list prices from any previous listing contracts. The
sales price does not account for seller concessions.

95.3% 94.9%
93.7% 94.1% 94.3%
92.8%

One Year
Change: One Year
Change:
+ 0.4%
+ 1.6%
Two Year
Change: Two Year
Change:
- 1.3%
- 0.7%

2008 2009 2010 2008 2009 2010

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 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 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
June
April 120 means 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.
143
132 143
129
129 132

One Year
Change:
- 7.3%
Two Year
Change:
+ 2.4%
2008 2009 2010
2008 2009 2010

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 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 9
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Inventory of Active Listings

Previously Owned Single-Family
10,701 New Construction Condo-Townhouse
2,671 2,739

2,293

1,741

1,382
1,120

357 320 343 329

1,245 1,314 152
47
234
Up to $125,000 $125,001 to $175,001 to $250,001 to $400,001 to $750,001 and
$175,000 $250,000 $400,000 $750,000 above
Single-Family Condo-Townhouse

Months Supply of Inventory

Previously Owned Single-Family
New Construction Condo-Townhouse
All All 28.2
8.6 8.5
8.0 24.6 24.7
7.6 7.4 7.5 7.3
20.5
6.0 5.7

12.2
11.0 11.4
8.8 8.1 8.4
6.1 6.5 6.6 6.8
5.3 5.5 5.2 5.3

All Single-Family Condo-Townhouse Up to $125,000 $125,001 to $175,001 to $250,001 to $400,001 and $750,001 and
$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 10K Research and Marketing. 10
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Under $125,000
Inventory Months Supply
1,673 Previously Owned Previously Owned
New Construction New Construction
7.2
1,330 6.6
6.2
5.4 5.3 5.1

343

66 52 14

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

$125,001 to $175,000
Inventory Months Supply
Previously Owned Previously Owned
New Construction New Construction
2,382 7.0
2,101
5.5 5.4

4.2
3.8 3.8

231 192 281

39

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

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 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
2,644 New Construction New Construction 9.2
2,348

7.2 7.0 6.7

5.1 4.9

370 323 296

47

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

$250,001 to $400,000
Inventory Months Supply
Previously Owned Previously Owned
2,682
New Construction New Construction
2,431 13.6

8.9 9.2
8.6

5.9 5.4

386 308 251

78

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

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 12
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$400,001 to $750,000
Inventory Months Supply
Previously Owned Previously Owned
1,626
1,511 New Construction New Construction
21.1
20.3

12.1 11.7

8.6
7.9

267 230
115
37

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

$750,001 and above

Inventory Months Supply
Previously Owned Previously Owned
1,008 New Construction New Construction 228.0
980

159 140
24.5 25.8 24.8 23.0 17.7
28 19

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

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 13
 Market Overview
A Monthly Indicator from the Austin Board of REALTORS®

5-Year
This Year Last Year
June 2010 This Year Last Year
Percent
Change
5-Year
Average
Year-to-
Date
Year-to-
Date
Percent
Change
Year-to-
Date
Average
New Listings Apr 4,962 3,631 + 36.7% 4,310 16,455 13,513 + 21.8% 15,292
May 3,464 3,476 - 0.3% 4,013 19,919 16,989 + 17.2% 19,305
Jun 3,787 3,650 + 3.8% 4,061 23,706 20,639 + 14.9% 23,366
Pending Sales Apr 2,937 1,953 + 50.4% 2,578 8,680 6,544 + 32.6% 8,805
May 1,514 2,183 - 30.6% 2,422 10,194 8,727 + 16.8% 11,226
Jun 1,823 2,150 - 15.2% 2,431 12,017 10,877 + 10.5% 13,658
Closed Sales Apr 2,242 1,708 + 31.3% 2,229 6,504 5,316 + 22.3% 7,287
May 2,273 1,868 + 21.7% 2,492 8,777 7,184 + 22.2% 9,779
Jun 2,077 2,272 - 8.6% 2,640 10,854 9,456 + 14.8% 12,419
Days on Market Until Sale Apr 66 76 - 12.3% 63 70 81 - 12.8% 69
May 62 75 - 18.2% 61 68 79 - 14.1% 67
J
Jun 67 76 - 12
12.8%
8% 62 68 79 - 13.7%
13 7% 66
Median Sales Price Apr $185,000 $185,300 - 0.2% $181,990 $179,900 $181,000 - 0.6% $178,080
May $187,068 $190,000 - 1.5% $184,414 $182,000 $185,000 - 1.6% $180,100
Jun $200,436 $195,000 + 2.8% $191,287 $185,000 $187,000 - 1.1% $182,384
Average Sales Price Apr $229,561 $227,567 + 0.9% $233,476 $230,270 $229,170 + 0.5% $232,147
May $237,432 $246,616 - 3.7% $243,158 $232,125 $233,706 - 0.7% $234,935
Jun $328,976 $245,015 + 34.3% $263,357 $250,658 $236,423 + 6.0% $240,607
Total Active Listings Available Apr 13,165 11,462 + 14.9%
May 13,787 11,535 + 19.5% -- -- -- -- --
Jun 14,545 11,681 + 24.5%
Percent of Original List Apr 94.8% 92.9% + 2.0% 95.5% 95.5% 92.2% + 3.6% 94.2%
Price Received at Sale May 94.8% 93.4% + 1.5% 95.7% 95.7% 92.5% + 3.5% 94.3%
Jun 94.1% 93.7% + 0.4% 95.5% 95.5% 92.8% + 3.0% 94.3%
Housing Affordability Index Apr 142 154 - 8.2% 145
May 140 146 - 3.6% 141 -- -- -- --
Jun 132 143 - 7.3% 136
Months Supply of Inventory Apr 6.8 6.8 - 8.2%
May 7.3 6.9 - 3.6% -- -- -- -- --
Jun 7.8 7.0 - 7.3%

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 14
Annual Review
A free research tool from the Austin Board of REALTORS®

Closed Sales January through April

April Days on Market Until Sale
$184,000
76
30,293 30,293 $171,500
67 67
28,051 28,051 $160,000
26,891 26,891
59 57
22,437
20,905

+ 12.7% - 7.4% - 20.0% - 6.8% - 12.8% - 2.4% + 17.1% + 12.5%

96.3% 96.8% 96.1% 96.3% 96.8% 96.1%

2005 2006 2007 2008 2009 2005 2006 2007 2008 2009

Median Sales Price Percent of Original List Price Received at Sale

$184,000 $187,500 $185,000
$171,500
$160,000

96.8%
96.3% 96.1%

94.3%

93.4%

+ 7.2% + 7.3% + 1.9% - 1.3%

+ 0.5% - 0.7% - 1.8% - 1.0%

2005 2006 2007 2008 2009 2005 2006 2007 2008 2009

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 15