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Volente : Real Estate Advice

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Wed Feb 16, 2011
Scott Butcher answered:
Ruthwheat,

Here is an exert from Austin Board of Realtors regarding the entire Austin metro area. I think the takeaway is that 2011 will improve over 2010.

Pending Sales in the Austin region increased 7.2 percent since January 2010 to 1,587 agreements signed. New Listing activity decreased 16.2 percent, which means sellers placed 2,779 new homes on the market. At this rate, they should expect their properties to sell after approximately 87 days.Prices climbed upward. Median Sales Price increased 6.3 percent over last January to $186,000. Negotiations moved toward buyers as Percent of Original List Price Received at Sale decreased to 91.6 percent. Months Supply of Inventory inched up 3.3 percent to 5.9 months.Interest rates are expected to remain around 5.0 percent and prices are expected to rise gradually in many markets. Although the labor department reported that the seasonally-adjusted unemployment rate dropped to 9.0 percent in January, expect joblessness to remain an issue. There's a steep, jagged rock face behind us; ahead lies a gently inclined grassy plain. ... more
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