Austin, Texas home sales increased dramatically in November, 2009 compared to November, 2008.  After a 38% increase in sales in October 2009, an increase in November was fully expected because the tax credit deadline was November 30th before Congress extended it to April 30.

I do not have specific statistics yet, but the increase in November will be similar to that in October.  Obviously the motivation for a large percentage of buyers was the tax credit, but that increase in Austin home sales from first time home buyers in Austin will trickle up if you will, because the homes sold to first time home buyers will result in move up homes being purchased soon after.

The average price of a home sold in Austin in November was nearly identical to the average price in October, and even in September. 

The vast majority of homes sold were under $400,000, as in previous months. As a matter of fact, over 90% of sales in November were homes under $400,000.

The continuing trend in Austin real estate is that homes priced over $750,000 are very difficult to move. I assisted a seller yesterday whose home is going on the market in an area where ther have been 4 sales out of 92 homes on the market in the last year.  Not a pretty picture, BUT we fully expect that market to improve, and it will, as home sellers have the opportunity to move up from the $300-$400,000 price range.

Approxiamtely 148 Austin homes sold in that price range in November, 2009 compared to 85 in November, 2008.

Even the weaker areas of the Austin real estate market are gaining strength, and the worst of the worst absolutely look promising!