Can someone tell me what percentage of the active MLS listing are closing in the Austin, Texas market with?

Asked by Mark, Longwood, FL Mon Feb 9, 2009

Single Family homes between $0-$350K?

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4
Sylvia Cross…, Agent, Austin, TX
Sat Feb 28, 2009
I think you are asking what percentage of homes are actually selling in Austin?
In January 2009, 61% of the MLS listings that departed the MLS (were no longer Active or Pending) departed as an expired or withdrawn listing, leaving 39% of the listings as a closed sale.

This is a very high percentage of "not solds". The average and median prices were down 5% for Jan compared to the same month a year before, but buyers I work with for the most part are not finding "easy pickin's". Sellers remain stubborn and are holding on to list prices. Thus, the high number of removed listings as sellers simply say to the market, "I'm not going to drop my price any further".

Below is a link to the latest Austin real estate market sales data and stats.

Sylvia
0 votes
Tim Moncrief, , Austin, TX
Sun Feb 22, 2009
One can not answer this question to give any clarity on the market. The key is to be "in the market" and most homes are either "on the the market" or "out of the market". The homes that are in the market are selling in a very short time period. This amount of time will vary according to the area and price range, but the general rule still applies. Look at only homes that are "in the market".
http://www.TopKWGroup.com
0 votes
Peter Simons…, , Cedar Park, TX
Tue Feb 10, 2009
Hi Mark,
The Austin Texas housing market is balanced with much activity. However we are seeing some downward pressure on prices in certain neighborhoods, while in other areas we still see multiple offer situations where properties sell very quickly. This is illustrated with the fact that in December 2008, out of a total number of sold properties of 1,299 the market sold 59 homes in 10 days or less. This is 4.5% of all sales in December 2008 sold in 10 days or less, which helped keep the region's Months Supply of Inventory at healthy levels—5.7 months for December, a number indicative of a balanced market. Specifically in the $175,000 to $250,000 market segment we only had 4.5 months supply of single family homes. In December we had 8,520 active listings and 1,299 sold properties or 15%. I hope this helps
Web Reference:  http://www.TeamSimonsen.com
0 votes
Josh Thomas, , Austin, TX
Mon Feb 9, 2009
Hi Mark,
This covers a very broad range of homes and markets within the greater Austin area. Depending on the location, this could be a starter home, luxury home, mobile home, shack in the woods or anything in between! It would be difficult to apply any response you get to a specific home within that range.

Can you be more specific on your price range and area of town? What is the date range you are interested in? Are you looking for homes that are selling within a certain time period? 6 months? 3 weeks?

There is A LOT of data out there.

If your question is asking whether or not homes listed for sale are actually selling, then yes. Homes that are priced correctly sell quickly. The ones that aren't, don't.
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