Team Price > Search > Market Statistics > April 2011

Published May 13, 2011 / Team Price Real Estate

The final month of year-over-year comparison to last year's tax incentive market is upon us. It bears repeating that April 2010 enjoyed uniquely strong activity due to the approaching credit deadline. The fact that there is some positive news in the mix suggests that recovery is under way. Let's see how this pivotal month played out locally.

  • New Austin Listings decreased 24.5 percent to 3,746.
  • Pending Sales were down 19.6 percent to 2,311.
  • Inventory levels shrank 14.1 percent to 11,251 units – a positive trend that should preserve market balance.

Prices were more or less stable.

  • The Median Sales Price increased 2.7 percent to $190,000.
  • Days on Market increased 22.8 percent to 82 days.
  • Months Supply of Inventory was down 2.6 percent to 6.9 months.

Detailed Market Report (PDF)

Nationally, the interest rate is 5.0 percent on a 30-year fixed conventional and the unemployment rate edged up to 9.0 percent in April, even as the economy added 244,000 jobs. Job seekers showed more confidence, a potential indicator of future housing demand. Moving forward, expect a different story to unfold in our market. We'll soon be comparing current activity to a post-credit slump that occurred during the summer and fall of 2010.

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