Austin Real Estate
If you have picked up a paper or even attempted to find information on Real Estate Markets that are bucking the national trend, then certainly you have heard about Austin, TX and its stable Real Estate Market. It has become a bit of a fad in my opinion for the press to include Austin in its list of best seller markets. If you look at the actual current statistics, the market is quite healthy, but far from a red hot seller’s market. Below is the data I collected comparing last week 2008 versus the same week 2007.
New listings were up 21.5%.
Pendings were down 61.75%.
Solds decreased by 22.75%.
In 2007 on this date, 9,221 properties were active on the market. Today, you will find 11,865 active properties or sale. While this # may seem like a small increase, nearly 30% in one year is quite a large increase.
The reality is that the Austin Real Estate Market is extremely healthy for sellers. However, we should continue to watch the continuing growth of supply over the next 12 months. If supply continues to increase at this rate, prices will eventually fall.