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Market News and Trends

Austin Market Dashboard – update


Followers of my blog know that I have not been keeping up with this space over the past several weeks — a testament to the busy-ness of the Austin/Central Texas real estate market.  Amidst continuing discouragement from national news reports, our local economy is growing and creating jobs, and the real estate market is moving well as a result.

I have posted a complete discussion at www.AustinMarketDashboard.com, but I’ll offer a couple of highlights here.

First, for three consecutive months — July, August, and September — 2011 home sales were up more than 30% compared to the same months in 2010:

Year-Over-Year Unit Sales Change

That is good news, especially considering that this is the first year in three years in which seasonal sales patterns were not distorted by temporary tax incentives aimed at encouraging home purchases.

Second, although sales and average prices have dipped recently those changes represent very typical seasonal market behavior.  The market indicator that I find more meaningful is the absorption rate, or “odds of selling”:

Odds of Selling 1990-Present

That absorption rate has dipped over the past couple of months too, but this is the fiirst time since 2005 that we have seen this metric bouncing around the long-term average of 21% rather than a much lower level.  With continuing uncertainties in the U.S. political and economic scene, and in the world economy, these Winter months may remain a little soft, but if history is an indication then we are poised to enter a new growth phase in the local real estate market.

Feel free to visit www.AustinMarketDashboard.com for more detail and discussion, or just call or text or email me if you have any questions.

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About Bill Morris, Realtor

More than thirty years of business experience (high tech, client service, business organization and start-up, including many years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

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