A free research tool from the Austin Board of REALTORS®

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Residential Sales Report

July 2010
“Recovery loses steam.” “Housing demand in a slump.” “Tax credit New Listings 2
leaves mess in its wake.” We’re bombarded with headlines like
these every day. Some have merit, some don’t. The truth is, the Pending Sales 3
economy is now driving the housing market and not vice versa
versa. Cl
Closed
d Sales
S l 4
Pending Sales in the Austin region dropped by 14.6 percent from Days On Market Until Sale 5
last July to arrive at 1,783. New Listings dropped a slight 0.4 Median Sales Price 6
percent since last July while overall inventory increased by 27.0
percent over last year to end the month with 14,545 homes Average Sales Price 7
available for sale.
Percent of Original List Price Received at Sale 8
Median Sales Price jumped 15.0 percent over last July to arrive at Housing Affordability Index 9
$215,000 yet buyers were only willing to pay 93.2 percent of a
seller's asking price. Market times did decline by 3.7 percent to
Housing Supply Outlook
land at 70 days compared to last year. All Residential Properties 10
Months Supply of Inventory decreased 16.5 percent to arrive at 8.0
Under $125,000 and $125,001 to $175,000 11
months, given current demand. $175,001 to $250,000 and $250,001 to $400,000 12
In sum, the housing market is trying to hold its ground until the job
$400,001 to $750,000 and $750,001 and above 13
situation improves. Only after widespread, private-sector hiring will Market Overview 14
demand be restored to the market and prices can continue to
stabilize. Until then, it’s a hurry up and wait game.
Annual Review 15

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 1
 New Listings
A Monthly Indicator from the Austin Board of REALTORS®

July Year to Date

3,961 27,384
3,690 3,674 24,609 24,329

One Year One Year

Change: Change:

- 0.4% + 12.6%
Two Year Two Year
Change: Change:

- 7.2% + 11.3%

2008 2009 2010 2008 2009 2010

Historical Market Activity

5,500

New Listings Pending Sales Closed Sales

5,000

4,500

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 2
 Pending Sales
A Monthly Indicator from the Austin Board of REALTORS®

July
April January through April
Year to Date
2,126 2,089 15,457
2,126 15,457
2,089 13,602
1,783 12,965 13,602
1,783 12,965

One Year One Year

Change: Change:
- 14.6% 4.9%
Two Year Two Year
Change: Change:
- 16.1% -12.0%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Market Activity

5,000

New Listings Pending Sales Closed Sales

4,500

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 3
 Closed Sales
A Monthly Indicator from the Austin Board of REALTORS®

July
April January through April
Year to Date
2,292 2,285 14,445
2,292 2,285
14,445
12,548
11,740 12,548
11,740
1,567
1,567

One Year One Year

Change: Change:

- 31.4% + 6.9%
Two Year Two Year
Change: Change:
- 31.6% - 13.1%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Market Activity

5,500

New Listings Pending Sales Closed Sales

5,000

4,500

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 4
Days on Market Until Sale
A Monthly Indicator from the Austin Board of REALTORS®

July
April January through April
Year to Date
73
73 70
70 77
77
61
61 68
65 68
65

One Year One Year

Change: Change:
- 3.7% - 12.1%
Two Year Two Year
Change: Change:
+ 14.2% + 4.2%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Days on Market Until Sale

90

80

70

60

50

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 5
 Median Sales Price
A Monthly Indicator from the Austin Board of REALTORS®

July
April January through April
Year to Date Figures do not take into account seller concessions.
$189,000 $187,000 $188,000
$215,000
$215,000
$190,000 $187,000
$190,000 $187,000 $189,000 $187,000 $188,000

One Year One Year

Change: Change:
+ 15.0% + 0.5%
Two Year Two Year
Change: Change:
+ 13.2% - 0.5%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Median Prices

$220,000

$210,000

$200,000

$190,000

$180,000

$170,000

$160,000

$150,000

$140,000

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 6
 Average Sales Price
A Monthly Indicator from the Austin Board of REALTORS®

July
April January through April
Year to Date Figures do not take into account seller concessions.
$279,134
$279,134
$251,423 $245,408
$251,423 $238,589 $245,408 $243,892
$238,589 $236,841
$236,841 $243,892

One Year One Year

Change: Change:
+ 17.0% + 3.0%
Two Year Two Year
Change: Change:
+ 11.0% - 0.6%
2008 2009 2010 2008 2009 2010
2008 2009 2010 2008 2009 2010

Historical Average Prices

$300,000

$275,000

$250,000

$225,000

$200,000

$175,000

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 7
 Percent of Original List Price Received at Sale
A Monthly Indicator from the Austin Board of REALTORS®

July Year to Date The Percent of Original List Price Received at Sale is calculated by
comparing the final sales prices of closed sales to their original list prices.
This does not account for list prices from any previous listing contracts. The
sales price does not account for seller concessions.

94.9% 94.9%
93.9% 94.1%
93.2% 93.0%

One Year
Change: One Year
Change:
- 0.8%
+ 1.2%
Two Year
Change: Two Year
Change:
- 1.8%
- 0.8%

2008 2009 2010 2008 2009 2010

Historical Percent of Original List Price Received at Sale

100.0%

95.0%

90.0%

85.0%

80.0%

Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 8
 Housing Affordability Index
A Monthly Indicator from the Austin Board of REALTORS®

The HAI formula measures housing affordability for the Austin Housing Market. An HAI of
July
April 120 means the median family income is 120% of the necessary income to qualify for the
median priced home using a 20% down, 30-year fixed rate mortgage.
149
149
132
132 124
124

One Year
Change:
- 16.5%
Two Year
Change:
- 5.5%
2008 2009 2010
2008 2009 2010

Historical Housing Affordability Index

180

170

160

150

140

130

120

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 9
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Inventory of Active Listings

Previously Owned Single-Family
11,249
New Construction 2,762 Condo-Townhouse
2,716
2,604

1,661 1,710

1,133

394 381 377 318

1,337 1,356 147
51
312
Up to $125,000 $125,001 to $175,001 to $250,001 to $400,001 to $750,001 and
$175,000 $250,000 $400,000 $750,000 above
Single-Family Condo-Townhouse

Months Supply of Inventory

Previously Owned Single-Family
New Construction Condo-Townhouse
All 10.9 All
34.0
9.1 9.4
8.2 8.0 8.1 7.8
24.2 24.5
6.8
6.3
18.0

12.1 11.2
9.8 10.8
8.1 7.4 8.1 8.4
6.6 6.9 6.6 6.1 6.3 7.1

All Single-Family Condo-Townhouse Up to $125,000 $125,001 to $175,001 to $250,001 to $400,001 and $750,001 and
$175,000 $250,000 $400,000 above above

A market is considered balanced between buyers and sellers when there is roughly a 5- to 6-month supply of homes available for purchase.

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 10
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Under $125,000
Inventory Months Supply
Previously Owned Previously Owned
New Construction New Construction
1,986 8.2
7.5
7.0
1,607 6.6 6.5
5.8

379

69 54 15

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$125,001 to $175,000
Inventory Months Supply
Previously Owned Previously Owned
2,601 New Construction New Construction
2,311 9.8

7.8
6.3 6.3 6.2
5.7

384
293 290
91

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 11
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$175,001 to $250,000
Inventory Months Supply
2,744 Previously Owned Previously Owned
New Construction New Construction
2,421 10.1

8.3
7.7 7.5

5.5 5.2

395 341 323

54

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$250,001 to $400,000
Inventory Months Supply
Previously Owned Previously Owned
2,625 New Construction New Construction
2,403 12.3
11.6

8.9 8.6

6.3
5.5

409
313
222
96

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 12
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$400,001 to $750,000
Inventory Months Supply
Previously Owned Previously Owned
1,611
New Construction New Construction 18.2
1,500 17.3

11.8 11.5

8.2
7.5

246 210
111
36

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$750,001 and above

Inventory Months Supply
Previously Owned Previously Owned
1,038 1,007 New Construction New Construction
25.8
24.4 24.5
22.2
20.7

146 126
31 20 0.0

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 13
 Market Overview
A Monthly Indicator from the Austin Board of REALTORS®

5-Year
This Year Last Year
Percent 5-Year Percent Year-to-
July 2010 This Year Last Year
Change Average
Year-to-
Date
Year-to-
Date
Change Date
Average
New Listings May 3,464 3,476 - 0.3% 4,013 19,920 16,989 + 17.3% 19,305
Jun 3,790 3,650 + 3.8% 4,062 23,710 20,639 + 14.9% 23,367
Jul 3,674 3,690 - 0.4% 3,938 27,384 24,329 + 12.6% 26,494
Pending Sales May 1,475 2,183 - 32.4% 2,414 10,102 8,726 + 15.8% 11,207
Jun 1,717 2,150 - 20.1% 2,410 11,819 10,876 + 8.7% 13,618
Jul 1,783 2,089 - 14.6% 2,317 13,602 12,965 + 4.9% 15,935
Closed Sales May 2,288 1,868 + 22.5% 2,495 8,803 7,184 + 22.5% 9,784
Jun 2,178 2,271 - 4.1% 2,660 10,981 9,455 + 16.1% 12,444
Jul 1,567 2,285 - 31.4% 2,420 12,548 11,740 + 6.9% 14,864
Days on Market Until Sale May 62 75 - 18.2% 61 68 79 - 14.1% 67
Jun 66 76 - 13.2% 62 68 79 - 13.8% 66
J l
Jul 70 73 -33.7%
7% 62 68 77 - 12.1%
12 1% 65
Median Sales Price May $187,000 $190,000 - 1.6% $184,400 $182,000 $185,000 - 1.6% $180,100
Jun $199,000 $195,000 + 2.1% $191,000 $185,000 $187,000 - 1.1% $182,384
Jul $215,000 $187,000 + 15.0% $191,000 $188,000 $187,000 + 0.5% $183,362
Average Sales Price May $237,061 $246,616 - 3.9% $243,084 $232,060 $233,706 - 0.7% $234,922
Jun $266,361 $245,000 + 8.7% $250,831 $238,863 $236,419 + 1.0% $238,247
Jul $279,134 $238,589 + 17.0% $251,414 $243,892 $236,841 + 3.0% $240,108
Total Active Listings Available May 13,787 11,535 + 19.5%
Jun 14,545 11,681 + 24.5% -- -- -- -- --
Jul 14,573 11,449 + 27.3%
Percent of Original List May 94.8% 93.4% + 1.5% 95.7% 95.7% 92.5% + 3.5% 94.3%
Price Received at Sale Jun 94.1% 93.7% + 0.4% 95.5% 95.5% 92.8% + 3.0% 94.3%
Jul 93.2% 93.9% - 0.8% 95.1% 95.1% 93.0% + 2.3% 94.1%
Housing Affordability Index May 140 146 - 3.6% 141
Jun 133 143 - 6.7% 136 -- -- -- --
Jul 124 149 - 16.5% 137
Months Supply of Inventory May 7.3 6.9 - 3.6%
Jun 7.9 7.0 - 6.7% -- -- -- -- --
Jul 8.0 6.9 - 16.5%

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 14
Annual Review
A free research tool from the Austin Board of REALTORS®

Closed
April Sales January through April
Days on Market Until Sale
$184,000
76
30,293 30,293 $171,500
67 67
28,051 28,051 $160,000
26,891 26,891
59 57
22,437
20,905

+ 12.7% - 7.4% - 20.0% - 6.8% - 12.8% - 2.4% + 17.1% + 12.5%

96.3% 96.8% 96.1% 96.3% 96.8% 96.1%

2005 2006 2007 2008 2009 2005 2006 2007 2008 2009

Median Sales Price Percent of Original List Price Received at Sale

$184,000 $187,500 $185,000
$171,500
$160,000

96.8%
96.3% 96.1%

94.3%

93.4%

+ 7.2% + 7.3% + 1.9% - 1.3%

+ 0.5% - 0.7% - 1.8% - 1.0%

2005 2006 2007 2008 2009 2005 2006 2007 2008 2009

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing. 15