REAL ESTATE UPDATE October 2009
October 2009 marked the second straight month of increased sales over the same month of the previous year. And this increase was dramatic. October of '09 saw an increase of 501 homes sold (38%), over October '08. Additional encouraging news was a 10% reduction in existing inventory (Active Listings). There was also a somewhat negligible drop in" Days on Market" of about 3%. Although small, at least headed in the right direction.
We did, however, see a downward movement in both the average and median sold price. And, at just over $10,000, this drop in median sales price was rather significant. But recall from the previous report (January thru September), the year-to-date median sales price for 2009, was essentially the same as the previous year at $190,000. We will have to wait and see what the rest of the year brings. Please note that only single family residence transactions are provided. Other property data pertinent to condominiums, multi-family, lots, etc., available upon request.
I plan an end-of-year report comparing 2009 results with that of 2008 as soon as the data is available. In the meantime, please call anytime you might have questions or concerns.
Remember! If considering buying, to take advantage of the Home Buyer Tax Credit, your contract must be dated no later than 30 April 2010, and you must close by 30 June 2010.
And please remember too, Your Referrals are Always Welcome and Appreciated!
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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