Austin Home Sales Data For October

The information about Austin home sales for October 2010 is mixed.  The Austin Board of Realtors (ABOR) data indicates that while some metrics improved, others did not.  Here is a summary of the data with comparisons to the previous month and the same month last year.

AVERAGE LIST PRICE INCREASED
Values remained strong in the Austin area as the October 2010 average list price came in at just over $271,000.  By way of comparison, the average list price last month (September 2010) was $259,291.  The average list price in the same month last year (October 2009) was $242,020.

AVERAGE SOLD PRICE INCREASED
The average sold price increased compared to last month as well as year-over-year. October 2010 saw an average sold price of $257,300 while September 2010 was $247,505 and October 2009 was $232,006. 

PRICE PER SQUARE FOOT STAYED FLAT
To equalize the sales data for the size of the homes sold, we look at the sold price per square foot. October 2010 saw an average of $114 per square foot, equal to the results from October 2009 and just up from $113 per square foot in September 2010.  Thus, the increase in the average sold price is mostly attributable to the average square footage increasing among homes that sold.

RAW NUMBER OF SALES DECREASED
In October 2010, there were 1,251 sales transactions recorded through ABOR. In September 2010, there were 1,305 sales. In October 2009, there were 1,969 sales.

AVERAGE DAYS ON THE MARKET INCREASED
October 2010 saw an average days on the market (DOM) of 87 days.  Last month, the DOM was reported at 78 days.  October 2009 had a DOM of 72 days.

OTHER OBSERVATIONS
• Out of 1,251 sales this October, 652 (48%) were priced below $200,000.
• The number of sales of homes priced $500,000 and above increased to 113 in October from 84 in September.
• The number of sales of homes priced $1 million and above increaded to 20 in October from 14 in September.
• The number of sold listings YTD in 2010 is just 660 fewer than the same time period in 2009.
• The total sales volume YTD in 2010 is higher than the same time period in 2009.

For questions about any of the data reported above, please contact info@missionmortgage.com and we’ll do our best to find your answer.

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About missionmortgage

A full-service professional mortgage banker providing lending in Texas for over 25 years. Our main office is located at 901 S. Mopac Expwy, Barton Oaks V- Suite 120, Austin, TX 78746 with branches in Lakeway, Houston, and Sealy. Mission Mortgage has been ranked as a Top 10 Mortgage Company in Austin for the past 7 years (Austin Business Journal).
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