The Austin area saw 884 homes sold during January, up 5 percent from January 2009, according to the Multiple Listing Service report by the Austin Board of Realtors. The median price for a home in the Austin area during January remained stable, up 1 percent to $179,250 compared with the same month last year.
“At this point, we can look back and see that January 2009 was the low point of this cycle,” said John Horton, chairman of the Austin Board of Realtors. “With steady improvement throughout 2009 that continued in January 2010, we can see that we’re one year into the recovery in Austin. … That it’s the kind of recovery we want — one that is steady, stable and consistent.”
The volume of single-family home sales in Austin improved steadily throughout 2009. During the first half of the year, the gap in year-over-year sales volume closed consistently, reaching levels similar to 2008 during the summer peak, with the exception of a dip in August, according to ABoR. During the fall 2009, sales volume began outperforming 2008 and surged in October and November, spurred by the original deadline for the first-time homebuyer tax credit. In December 2009, sales volume again achieved a modest increase of 5 percent compared with December 2008.
Horton said the area is already seeing positive signs in sales volume and price appreciation. “Those factors, combined with the population growth and additional jobs economists expect for our area in 2010, bode well for the long-term value of Austin real estate.”
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