The Austin Real Estate (www.austinre.com) Blog provides information and resources to assist you in locating a place to live in Austin and it's surrounding areas.
I just saw the latest Austin real estate market statistics from Alamo Title Co. and this is of note:
Units for Sale: (compared to August 2007)
New listings were down 18.87%.
Pendings were down 21.28%.
Solds decreased by 23.21%.
As for Average Prices:
The "New Listings" average list price is up 3.90% to 312,594. In August 2007 the average list price was $300,849.
Sold average sales prices decreased 7.95% to $276,954. For August 2007 it was $256,553.
Did you know that we had 11,103 active listings during the same week in 2007? Today there is 12,647 active listings! That is a 13.9% increase from last year.
Now isn't a good time to sell unless the seller is going to be aggressive. This would definitely be a reason for prices to be lower. Sell right or don't sell at all! Now IS a good time to buy!