The number of homes for sale inven otry decreased in the last 3 weeks from a high of 13,853 to now only 12,898 but this is still up from January 1, 2010 with 30% more homes on the market.
Pending contracts are down 21.87% from August of last year. Sold sales in last month compared to 2009 decreased by 18.9%. The amazing factor is that sold prices from last year increased 10.42% to $261,006 and this does take into account the higher end homes that are now selling with a much lower sales price. Austin Texas and surrounding communities is feeling a much deeper pain with fewer sales, home owners that have to sell before they buy their next home and fewer buyers that cannot qualify.
Everyone talks about jobs in Austin Texas and many of those jobs are entry level and do not support the price range of homes that are above $275,000 in our local housing market for homes for sale.
Many of the MLS Multiple Listings Service areas that are south of the river including Lake Travis, Lakeway, Eanes and Westlake, Oak Hill, Dripping Springs, South and Southwest Austin, Oak Hill, Buda, Kyle, Circle C and others have seen a increase in months of inventory. What this also means is that all for these areas are now above 5 months of absorption which becomes a buyers market. It is established that at any time the market is below 5 months is considered a sellers market- now it has climbed as high as 24 months in the 78669 zip code- Spicewood Texas! That is in the Lake Travis school district.
To learn more about these areas and how your home would fit on the market to sell today call 512-794-6635 and get the facts about your market and not on Wall Street! You can go online and sign up for Market Snapshot which will keep you up to date on recent home sales and this is real time MLS at www.YourKeyToResults.com or go to www.Move2AustinTexas.com
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