Austin Home Sales up 5%, Down in 2009

Austin home buyers returned in force last month, increasing sales 5 percent from the same time in 2008, according to a Austin Board of Realtors report Wednesday.

The median price of the 1,373 homes sold in December rose to about $194,000, an increase of 6 percent year over year.


“We saw dramatic increases in sales volume in October and November 2009, which were presumably related to the original deadline for the first-time home buyer tax credit,” board Chairman John Horton said.

“However, increases in sales volume beyond November and figures that have improved steadily throughout the year indicate that, while some demand was driven by the tax credit deadline, a sustainable recovery is also underway in the real estate market.”

Despite the encouraging numbers, home sales were still down 6 percent from 2008. Homes sold last year drifted near a $188,480 median, which was down 1 percent year over year. Officials said the overall 6 percent decline in home sales is still a significant improvement when compared to the double-digit decreases experienced in the first quarter 2009.

Source: Austin Business Journal