Stats from Alamo Title Co:
The Austin Market:
The number of active listings is down 1.81% from last year during the same week.
New listings are up 19.20%.
Pendings are up this week by 34.86%.
Sold residential units are up 60.49% compared to the same week last year.
The Week in Review
Units for Sale:
Feb. 28 – Mar. 6, 2010
(compared to the same week in 2009)
New listings are up this week 19.20%
Pendings are up this week 34.86%
Solds are up 60.49%
As for Average Prices:
Feb. 28 – Mar. 6, 2010
Sold average sales prices increased 4.52% to $236,502. In 2009 it was $226,272 for the same week.
The Month In Review
Preliminary February 2010 Data:
Units for Sale: (compared to February 2009)
New listings are up 8.22%.
Pendings are up 18.37%.
Solds increased by 19.64%
As for Average Prices:
The “New Listings” average list price is down 10.17% to $295,379. In February 2009 the average list price was $328,804.
Sold average sales prices decreased 3.78% to $236,145. For February 2009 it was $245,430.
Did You Know…?
That we had 10,875 active listings during the same week in 2009? Today there is 10,678 active listings! That is 1.81% decrease from last year.
Lake Travis real estate agent Sam Chapman’s comments:
These numbers are similar to those of the past several weeks and indicate a great trend. Sales are up and that is a very good thing. My thinking is that people who pulled homes off the market toward the end of last year will be listing them again soon and the number of active listings may go up.
I think what we are seeing a lot of activity because of several things. First, the tax credit is looming and that is pushing some buyers. Second, the threat of rising interest rates has people moving forward. Third, people are just glad that 2009 is over and even though many do not thing 2010 will a lot better, they are moving forward anyway. Fourth, people are moving to Austin. Some are moving for jobs, some for the lifestyle and some because they can work from anywhere. Finally, some buyers are back in the hunt for a home near or on Lake Travis because it is finally back to a normal level after two years of drought.
See also:
Sam Chapman is an