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Market News and Trends

Another bit of perspective on Austin home sales


A few days ago I updated my Austin Market Dashboard, and earlier today I commented on the status of median home prices in the Austin Metro area.  This post offers a view of sales history here that combines unit sales and average sale prices — total sales volume in dollars:

Dollar Volume of Austin-area Home Sales

There has been a lot said and written over the past couple of years about the trouble in the housing industry — and there certainly has been some.  More in some places than in others, but we have all felt it.

What the chart above points out is that the total dollar value of home sales activity in the Austin metro area over the past 3 or 4 years hasn’t really been unusual, except that it hasn’t been growing.  It’s not really down from an historical perspective, though.  What was unusual was the bubble that we enjoyed in 2006 and 2007, as did most of the U.S.  Our bubble wasn’t as large as some so our fall wasn’t as long, but there is no doubt that a correction took place.

The other notable feature in that chart is the distance between the annual highs and lows in 2008 through 2011.  There is an obvious upward trend overall during those years, and the shape of this curve in 2011 looks very much like pre-bubble 2005.  Year-to-date dollar volume in 2011 (January through September) is just 2% lower than the same period in 2005.

Does this mean “happy days are here again?”  If that means going back to the boom time of 2006-2007 (or 1998-2000), probably not.  We are on the mend, though, and, given continuing uncertainties elsewhere in the world and elsewhere in the U.S. housing market, virtually all forecasts are for continuing growth for Austin and Central Texas.

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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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