Austin Home Sales Reaches 2008 Pace for July

Area Market Statistics

Austin-area home sales volume continues momentum, reaches 2008 pace for July

Austin Board of REALTORS® releases July 2009 real estate statistics

August 20, 2009 - According to the July 2009 Multiple Listing Service report by the Austin Board of REALTORS®, the volume of Austin-area home sales reached 2008 levels for the first time this year.

In July 2009, 2,069 homes were sold, statistically unchanged from the 2,068 homes sold in July 2008. The median home price for Austin in July 2009 was $191,500, a two percent decrease from the same month the prior year.

“The sales volume momentum in Austin continues, now reaching 2008 levels. That’s good news, but I think it’s even better news that we’ve achieved that increase while maintaining a steady median home price,” said Jay Gohil, chairman of the Austin Board of REALTORS®. “Throughout 2009, the median price has fluctuated only slightly compared to 2008. Looking back further, prices have remained above 2007 levels, one of the most lucrative years of the last decade in Austin real estate. That long-term price stability, particularly in the face of market fluctuations, bodes well for Austin’s future.”

July 2009 Statistics

• $508,810,549 was the dollar volume of single-family properties sold

• $191,500 was the median price, a two percent decrease from one year ago

• 2,069 was the number of homes sold, unchanged from July 2008