REAL ESTATE UPDATE 2009 - 2008 Comparison
December 2009 market statistics have been released and we are now able to compare the total year 2009 market performance with that of 2008.
From the chart below it is obvious that 2009 did not fare as well as 2008, particularly in terms of number of sales, and, to a lesser extent, average sold price and median sold price. Recall too, from earlier reports, sales in 2007 were 20% higher than in 2008.
Perhaps the most encouraging indicator of what might lie ahead for 2010 can be found in a review of the 4th quarter (October thru December). Sales in 4th quarter 2009 were up 32% from the same period in 2008. Oct 09 saw a 38% increase in sales. For Nov 09 it was a 58% increase. Dec 09 was a more modest increase of 5%. All of this could of course be explained at least in part by the first-time homebuyer tax credit. Still it has to be considered a positive. Even through some rather difficult times, average and median sold prices in our market area have held their own pretty well when compared to other markets around the country. The next few months should tell us much.
For purposes of this report, only single family residence transactions have been considered. Other property data available upon request. Please just let me know if you require data on other property types, or, have need for other more specific information.
Reminder. First-Time Homebuyer Tax Credit ends 30 Apr 10. Must close by 30 Jun 10.
Data provided in this report has been obtained from the Austin Board of REALTORS / Austin-Central Texas Realty Information Service statistical reports as well as data provided by the Real Estate Center at Texas A & M University.
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