REAL ESTATE UPDATE Jan - Apr 2010
Hard to believe we are already nearly halfway through 2010. Time to once again look at just what the market is doing in our area. May 2010 numbers are not yet available but we can compare April of this year with that of last year, and also review first quarter (Jan—Mar) results, 2010 vs. 2009. Only single family properties are included in this report. I am happy to provide other property data upon request.
First, comparing April. It is exciting to see that there were 442 more home sales in April of this year compared to the previous April. This excitement needs to be tempered, however, with the realization that buyers wanting to take advantage of the government sponsored First-Time Homebuyer Tax Credit Program had to have their contracts dated no later than 30 April. This surely has to be considered a factor. Of additional concern has to be the fact that despite an up tick of 400+ home sales in April, there were still nearly nine hundred more active listings (860), when compared to the same time last year. A significant inventory bulge. On a more positive note, the Average Sold Price was up a little over $5,000 (although down a little from first quarter), and the Median Sold Price held steady, even up slightly.
A review of first quarter statistics shows Average Sold Price up nicely by nearly $6,000 this year, while the Median Sold Price was down slightly (-l%). Sales were up this first quarter by 12%, and available inventory (Active Listings) remained consistent. As in the April comparisons, we see a significant decrease in "Days on the Market". Yet another positive trend.
It is hoped the information provided will be useful to you. Please contact me with any questions you might have.
Data provided in this report has been obtained from the Austin Board of REALTORS / Austin-Central Texas Realty Information Service statistical reports.
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