According to the Multiple Listing Service report by the Austin Board of REALTORS®, the volume of Austin area home sales in January 2010 was up five percent from the same month in 2009. The median price of real estate in the Austin area remained stable in the same time period, up one percent to $179,250.
In the fall of 2009, sales volume for Austin homes began outperforming 2008 and surged in October and November, spurred by the original deadline for the first-time homebuyer tax credit. In December 2009, sales volume returned to a modest increase of five percent when compared to December 2008, a growth rate which was maintained in January 2010.
January 2010 Statistics for Austin, TX Home Sales
- $216,094,684 – Total dollar volume of single-family properties sold, an 11 percent increase from January 2009.
- $179,250 – Median price for single-family homes, a one percent increase from January 2009.
- 884 – Single-family homes sold, a five percent increase from January 2009.
We expect demand to continue to go up in 2010. Demand will increase in part because of Federal Government Tax Incentives in the first four months of 2010 for first time and resale buyers.
Demand will also increase as Austin continues to add jobs and population. Economists project the Austin area will add 9,200 jobs in 2010 and another 17,100 jobs in 2011. In fact they expect it will only take the Austin area two months to replace the jobs lost during the recession. By comparison it could take the entire country as long as 10 years to replace the over 7 million jobs lost in the USA during the recession.
With the start of 2010 we are experiencing the best sales in three years, and we have great expectations that 2010 will continue to be a very good year.
OK, real estate brokers and agents always always expect next year to be very good, but this year should prove us to be exactly right!