Austin area home sales up 5 percent in January; Month marks one year of steady improvement in sales volume
Austin Board of REALTORS® releases January 2010 real estate statistics
February 18, 2010 - According to the Multiple Listing Service report by the Austin Board of REALTORS®, the volume of Austin area home sales in January 2010 was 884, up five percent from the same month in 2009. The median price of real estate in the Austin area remained stable in the same time period, up one percent to $179,250.
“At this point, we can look back and see that January 2009 was the low point of this cycle. With steady improvement throughout 2009 that continued in January 2010, we can see that we’re one year into the recovery in Austin,” said John Horton, Chairman of the Austin Board of REALTORS®. “What’s most important about this is that it’s the kind of recovery we want: one that is steady, stable and consistent.”
Throughout 2009, the volume of single-family home sales in Austin improved steadily. In the first half the year, the gap in year-over-year sales volume closed consistently, reaching levels similar to 2008 during the summer peak, with the exception of a dip in August. In the fall of 2009, sales volume began outperforming 2008 and surged in October and November, spurred by the original deadline for the first-time homebuyer tax credit. In December 2009, sales volume returned to a modest increase of five percent when compared to December 2008, a growth rate which was maintained in January 2010.
Mr. Horton continued, “We’re already seeing positive signs in sales volume and price appreciation. Those factors, combined with the population growth and additional jobs economists expect for our area in 2010, bode well for the long-term value of Austin real estate.”
January 2010 Statistics
$216,094,684 –Total dollar volume of single-family properties sold, an 11 percent increase from January 2009.
$179,250 – Median price for single-family homes, a one percent increase from January 2009.
884 – Single-family homes sold, a five percent increase from January 2009.
Market Reports, YTD
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About Appraisals >The Language of Real Estate Agents
Technical terms can be confusing to people who do not work in a profession, and real estate agents use language that may be confusing to many home buyers and sellers.
If you find your eyes glazing over when your real estate agent starts talking about escrow, clear title, easements, encroachments, contingencies, financing, appraisals and the closing process, don't hesitate to ask for a translation. Buying or selling a home is a major step, and professional real estate agents are totally committed to helping you understand the process thoroughly so that you can make informed decisions.
The simple transaction of trading the sellers' house for the buyers' money has become complicated by several hundred years of custom, common law, and state and local government requirements. Consumer demands have resulted in up-to-date rules that communication be as clear and understandable as possible. Real estate agents work to create an atmosphere in which you feel comfortable to ask questions.
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| Q |
During what months of the year do most people move from one home to another?
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| A |
Most moves occur between the months of May and September. |
 See More Real Estate Trivia > |
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