Investors, it is time to buy in Austin! My company has been discussing that in the last 30 days in the central areas (1B, 1A, 8E, 8W, 4,6,7) that there is currently 6.5 months of single family homes inventory. In normal language that translates to a fairly balanced market of buyers and sellers and in area 1n, there is currently only 3.2 months of inventory (That does not include all areas of Austin). Finally, the Statesman reported local good news and not just national gloom.
This is from the Statesman– Just over 2,100 single-family homes were sold last month, according to the June 2009 Multiple Listing Service report by the Austin Board of Realtors. That’s 4 percent less than a year ago. Meanwhile, the median price was $199,900, unchanged from last year.
"We've seen the year-over-year gap in sales volume close steadily throughout 2009, and that momentum continues this month," said Jay Gohil, chairman of the Austin Board of Realtors.
Home prices in the Austin area have continued gaining momentum since the beginning of the year. Over the first two quarters of 2009, the average sale price for a single-family home has increased $20,824, while median sales price has increased $24,400.
Also, since January 2009, sales volume is up 61 percent, and active listings are up 14 percent. These are the signs of a good real estate market in Central Texas and is positive news for both Austin buyers and sellers.
