National Home Prices Rise For 6th Consecutive Month
January 26, 2010
The latest Case-Shiller index housing valuations were released today, and home prices for the 20-city index rose for the 6th straight month for November. The index value was up 0.2% for November, to a value of 145.49. Demand has increased dramatically, largely in part to tax incentives for first-time home-buyers and the new amendments to the tax credit for prior owners.
The baseline of the index is a value of 100 for all cities according to their respective prices in January, 2000. The highest point measured on the index was 189.93 for Q2 2006.
Austin and the Case-Shiller Index
Demand in Austin has risen over the last few months. There has been a dramatic increase in Austin homes sales in the first-time homebuyer valuations, while homes in the upper price ranges have lagged behind, until recently. Homes in several affluent neighborhoods, such as Zilker in South Austin, have had recent sales of some of their higher-end homes.
We at Team Ensor have been very busy with homebuyers in Austin over the last few months, and we expect it to continue throughout the spring as the countdown continues toward the housing tax credit expiration.
Source: Yahoo Finance
Recent Sales Data for Downtown Austin Real Estate
December 9, 2009
Downtown Austin Real Estate – November 2009 Sales Report
The following sales data for Downtown Austin real estate includes condos that sold between November 1, 2009 and November 30, 2009. Data was taken from Austin MLS Area DT. Note that the recent sales data below is solely for Downtown Austin condos. Keep in mind that these numbers are the highs, lows, averages, and median numbers for this area. For specific comps in Downtown Austin, Contact Team Ensor and one of our team members will contact you.
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Recent Sales Data for Central Austin Real Estate
December 9, 2009
Central Austin Real Estate – November 2009 Sales Report
The following sales data for Central Austin real estate includes properties that sold between November 1, 2009 and November 30, 2009. Data was taken from Austin MLS Areas 1B and 4. The data below is just for single family homes in Central Austin. Keep in mind that these numbers are the highs, lows, averages, and median numbers for this area. For specific comps in Central Austin, Contact Team Ensor and one of our team members will contact you.
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Beige Book Data Shows Signs of Economic Improvement
December 2, 2009
Today the Federal Reserve Bank released the latest Beige Book data, and it showed signs of economic improvement in 8 of the 12 Fed Bank areas, led in part by residential housing. While we don’t have a Fed Bank located in Austin that reports on our local economy, we can extract some overall market data from the report, and also keep a close eye on the Dallas report since it’s our closest Fed Bank.
The summary of the report shows that home prices have continued to decline in the eastern Fed districts, but in Dallas housing prices were seen as firmed and stabilized. Looking at this data in conjunction with the recent ABOR housing stats that came out for this quarter (showing almost a 40% surge in residential sales volume), and it is evident that the national and Austin real estate markets are well on the road to recovery.
Only four Fed Banks revealed data that did not show signs of improvement in their areas: Philadelphia, Cleveland, Richmond and Atlanta.
What is the Beige Book?
For those who aren’t familiar with the term, the Beige Book is a compilation of data from the nation’s 12 Federal districts. Data is obtained by each area’s top economists, business leaders and market experts. It is seen as an overall report on the nation’s economic picture, and Beige Books are prepared 8 times per year.
Austin Home Sales Increased 38 Percent in October
November 19, 2009
According to the Austin Board of Realtors (ABOR), the number of home sales in Austin shot up 38% this October when compared to last October.
Austin Homes Sold
In October 2009, there were 1,823 homes sold, which represents a 38 percent increase from the 1,322 homes sold in October 2008. They stated that the median price of Austin homes sold in October 2009 was $182,000, which represents a five percent decrease from October 2008. ABOR did not release the amount of these homes that were distressed sales, as this particular study only evaluated the total volume of sales. However, they did mention that total dollar volume was $434,975,092 for single family homes — a 35% increase from 2008.
The report states that at the start of 2008, the number of home sales in Austin was down considerably when compared to 2008. That volume gap began to tighten in July when year-to-year volumes equalized, showing signs of improvement in the overall Austin housing market.
Austin Real Estate – October 2009 Statistics
•$434,975,092 – Total dollar volume of single-family homes sold, a 35 percent increase from one year ago.
•$182,000 – Median price for single-family homes, a five percent decrease from October 2008.
•1,823 – Single-family homes sold, up 38 percent from the same time last year.