Team Price > Search > Market Statistics > January 2012

Published February 15, 2012 / Team Price Real Estate

For once, the headlines are getting it right: "Supply-side correction continues," "Home buyer demand strengthening," "Market heads toward balance." There is a very real sense that the landscape is shifting. We don't want to overstate the case this month, as this coming spring will be the bellwether. It's been plus or minus five long years since the peak of the housing bubble and the ensuing aftermath. As we delve into a new year, let's see if the first month of the sixth year brought any encouraging signs.

  • New Listings in the Austin region decreased 6.9 percent to 2,593.
  • Pending Sales were up 28.3 percent to 1,861.
  • Inventory levels shrank 22.8 percent to 7,792 units.

Prices softened somewhat.

  • The Median Sales Price decreased 5.7 percent to $174,000.
  • Days on Market was down 8.3 percent to 81 days.
  • Absorption rates improved as Months Supply of Inventory was down 30.0 percent to 4.2 months.

Detailed Market Report (PDF)

No one likes feeling stuck. The fate of housing and the economy remain tied together in a single garment of destiny. As long as housing remains weak, many Americans are unable to relocate when an employment opportunity arises. Instead, they're anchored to a house that's underwater. Several key efforts aimed at easing refinancing, converting vacant properties to rentals and getting some private equity in the game are all reasons to stay alert and informed.

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