A free research tool from the Austin Board of REALTORS®

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Residential Sales Report

January 2009
January saw a dramatic drop-off in market activity compared to
New Listings 2
one year ago as the broader economic troubles rear their head Pending Sales 3
in the Austin housing market. New listings declined by 23.0 Closed Sales 4
percent from last January, posting 3,122 units. Pending sales
fell by 31.6 percent to 1,461, and closed sales were down 41.2 Days On Market Until Sale 5
percent to 844 units. Median Sales Price 6
Confirming this dynamic is rising market time (82 days in Average Sales Price 7
January, up 10.3 percent) and declining sales prices ($172,000, Percent of Original List Price Received at Sale 8
down 7.0 percent in January). Additionally, the Percent of
Original List Price Received at Sale was 91.3, down 4.7 percent Housing Affordability Index 9
of the last two years. Housing Supply Outlook
Fortunately, for potential buyers this means an improving All Residential Properties 10
affordability environment. The Housing Affordability Index (HAI) Under $125,000 and $125,001 to $175,000 11
of 157 this January is up 8.8 percent from last year, which
means a more accessible market for buyers. $175,001 to $250,000 and $250,001 to $400,000 12
$400,001 to $750,000 and $750,001 and above 13
Market Overview 14
Annual Review 15

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 1
 New Listings
A Monthly Indicator from the Austin Board of REALTORS®

January Entire Year

4,055
43,001 44,354
38,520
3,072 3,122

One Year One Year

Change: Change:

- 23.0% - 13.2%
Two Year Two Year
Change: Change:

+ 1.6% - 10.4%

2007 2008 2009 2006 2007 2008

Historical Market Activity

5,000
New Listings
4,500 Pending Sales
Closed Sales
4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 2
 Pending Sales
A Monthly Indicator from the Austin Board of REALTORS®

January through April

January
April Entire Year
2,137 30,033
2,062 30,033
2,137 27,289
2,062
27,289
22,536
1,461 22,536
1,461

One Year One Year

Change: Change:
-31.6% -17.4%
Two Year Two Year
Change: Change:
-29.1% -25.0%
2007 2008 2009 2007 2008 2009
2007 2008 2009 2006 2007 2008

Historical Market Activity

5,000
New Listings
4,500 Pending Sales
Closed Sales
4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 3
 Closed Sales
A Monthly Indicator from the Austin Board of REALTORS®

January through April

January
April Entire Year
1,644
1,644
30,293
1,435 30,293 28,049
1,435
28,049

22,380
22,380

844
844

One Year One Year

Change: Change:

- 41.2% - 20.2%
Two Year Two Year
Change: Change:
- 48.7% - 26.1%
2007 2008 2009 2007 2008 2009
2007 2008 2009 2006 2007 2008

Historical Market Activity

5,000
New Listings
4,500 Pending Sales
Closed Sales
4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 4
Days on Market Until Sale
A Monthly Indicator from the Austin Board of REALTORS®

January through April

January
April Entire Year
82
82
74
74 67
67
68
68 59
59 57
57

One Year One Year

Change: Change:
+ 10.3% + 17.1%
Two Year Two Year
Change: Change:
+ 19.8% + 14.3%
2007 2008 2009 2007 2008 2009
2007 2008 2009 2006 2007 2008

Historical Days on Market Until Sale

90

80

70

60

50

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 5
 Median Sales Price
A Monthly Indicator from the Austin Board of REALTORS®

January through April

January
April Entire Year Figures do not take into account seller concessions.
$185,000 $184,000 $187,500
$174,500 $185,000 $172,000 $171,500 $187,500
$174,500 $184,000
$172,000
$171,500

One Year One Year

Change: Change:
- 7.0% + 1.9%
Two Year Two Year
Change: Change:
- 1.4% + 9.3%
2007 2008 2009 2007 2008 2009
2007 2008 2009 2006 2007 2008

Historical Median Prices

$200,000

$190,000

$180,000

$170,000

$160,000

$150,000

$140,000

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 6
 Average Sales Price
A Monthly Indicator from the Austin Board of REALTORS®

January through April

January
April Entire Year Figures do not take into account seller concessions.

$241,942 $246,419
$246,419 $243,885
$237,285 $241,942 $229,800 $243,885
$237,285 $223,226 $229,800
$223,226

One Year One Year

Change: Change:
- 7.7% - 1.0%
Two Year Two Year
Change: Change:
- 5.9% + 6.1%
2007 2008 2009 2007 2008 2009
2007 2008 2009 2006 2007 2008

Historical Average Prices

$260,000

$240,000

$220,000

$200,000

$180,000

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 7
 Percent of Original List Price Received at Sale
A Monthly Indicator from the Austin Board of REALTORS®

January Entire Year The Percent of Original List Price Received at Sale is calculated by comparing
the final sales prices of closed sales to their original list prices. This does not
100.0% 100.0% account for list prices from any previous listing contracts. The sales price does
not account for seller concessions.
96.8%
95.8% 96.1%
95.0% 93.9% 95.0%
94.3%

91.3%

90.0% 90.0%

One Year
One Year
Change:
85.0% Change:
85.0%
- 2.7%
- 1.8%
Two Year
Change: Two Year
Change:
- 4.7%
- 2.5%
80.0% 80.0%

2007 2008 2009 2006 2007 2008

Historical Percent of Original List Price Received at Sale

100.0%

95.0%

90.0%

85.0%

80.0%

Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 8
 Housing Affordability Index
A Monthly Indicator from the Austin Board of REALTORS®

The HAI formula measures housing affordability for the Austin Housing Market. An HAI of 120 means
January
April the median family income is 120% of the necessary income to qualify for the median priced home using
a 20% down, 30-year fixed rate mortgage.
157
147 144 157
147 144

One Year
Change:

+ 8.8%
Two Year
Change:
+ 7.3%
2007 2008 2009
2007 2008 2009

Historical Housing Affordability Index

180

170

160

150

140

130

120

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 9
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Inventory of Active Listings

Single-Family
Previously Owned Condo-Townhouse
7,071
New Construction
2,050
1,823

1,579
1,443

1,058

788
1,670
1,062 437
366
582 253 241 259
88

Single-Family Condo-Townhouse Up to $125,000 $125,001 to $175,000 $175,001 to $250,000 $250,001 to $400,000 $400,001 to $750,000 $750,001 and above

Months Supply of Inventory

Previously Owned Single-Family
New Construction 15.9 Condo-Townhouse 28.5
All All

21.7

17.6 18.3
8.8
13.4
6.8 7.1
5.6 5.7 9.9
5.3 5.1 5.2 9.0
8.1
5.9 6.6
5.7
4.5 5.0 4.6 4.2 4.6
3.4 3.6

Up to $125,000 $125,001 to $175,001 to $250,001 to $400,001 and $750,001 and

All Single-Family Condo-Townhouse $175,000 $250,000 $400,000 above above

A market is considered balanced between buyers and sellers when there is roughly a 5 to 6-month supply of homes available for purchase

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 10
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

Under $125,000
Inventory Months Supply
Previously Owned
1,246 New Construction
Previously Owned
New Construction 6.9
1,001
6.1 6.0

4.9
4.5 4.4

245

65 57
8

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$125,001 to $175,000
Inventory Months Supply
Previously Owned
1,595
Previously Owned New Construction
1,407 New Construction 6.8

5.5

3.6 3.6 3.5

3.2

225
172 188
53

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 11
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$175,001 to $250,000
Inventory Months Supply
Previously Owned
1,751 New Construction
Previously Owned
New Construction 10.0
1,497

7.5

4.8 4.5
4.1
3.4
438
326
254
112

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$250,001 to $400,000
Inventory Months Supply
1,826 Previously Owned
Previously Owned New Construction
1,593 New Construction 21.3

10.1
661
7.3
457 6.4 6.0 5.6
233 204

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 12
Housing Supply Outlook
A Monthly Indicator from the Austin Board of REALTORS®

$400,001 to $750,000
Inventory Months Supply
1,130 Previously Owned
28.6
1,021 Previously Owned New Construction
New Construction

572 16.4

422 12.1
10.0
9.1 8.7

150
109

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

$750,001 and above

Inventory Months Supply
Previously Owned
585 Previously Owned New Construction 36.7
552
New Construction

22.0
20.1 20.8
291 16.9 16.7
236

55
33

All Single-Family Condo-Townhouse All Single-Family Condo-Townhouse

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 13
 Market Overview
A Monthly Indicator from the Austin Board of REALTORS®

Previous 5-Year
This Year
January 2009 This Year
Previous
Year
Percent
Change
5-Year
Average
Year-to-
Date
Year
Year-to-
Percent
Change
Year-to-
Date
Date Average
New Listings Nov 2,324 2,833 - 18.0% 2,606 36,579 42,373 - 13.7% 39,547
Dec 1,941 1,981 - 2.0% 2,039 38,520 44,354 - 13.2% 41,586
Jan 3,122 4,055 - 23.0% 3,458 3,122 4,055 - 23.0% 3,458
Pending Sales Nov 1,212 1,499 - 19.1% 1,673 21,381 26,042 - 17.9% 24,427
Dec 1,155 1,247 - 7.4% 1,477 22,536 27,289 - 17.4% 25,904
Jan 1,461 2,137 - 31.6% 1,889 1,461 2,137 - 31.6% 1,889
Closed Sales Nov 1,071 1,805 - 40.7% 1,728 20,995 26,278 - 20.1% 24,029
Dec 1,385 1,771 - 21.8% 1,902 22,380 28,049 - 20.2% 25,931
Jan 844 1,435 - 41.2% 1,395 844 1,435 - 41.2% 1,395
Days on Market Until Sale Nov 76 63 + 21.3% 68 66 57 + 16.9% 63
Dec 81 68 + 19.5% 72 67 57 + 17.1% 64
Jan 82 74 + 10.3% 75 82 74 + 10.3% 75
Median Sales Price Nov $179,900 $184,000 - 2.2% $169,490 $188,000 $183,217 + 2.6% $170,936
Dec $179,900 $189,000 - 4.8% $172,955 $187,500 $184,000 + 1.9% $171,100
Jan $172,000 $185,000 - 7.0% $168,685 $172,000 $185,000 - 7.0% $168,685
Average Sales Price Nov $229,648 $244,959 - 6.3% $223,354 $244,160 $246,129 - 0.8% $224,864
Dec $239,705 $250,709 - 4.4% $227,709 $243,885 $246,419 - 1.0% $225,086
Jan $223,226 $241,942 - 7.7% $224,223 $223,226 $241,942 - 7.7% $224,223
Total Active Listings Available Nov 10,733 NA --
Dec 10,564 NA -- -- -- -- -- --
Jan 10,294 NA --
Percent of Original List Price Nov 92.7% 94.0% - 1.4% 94.8% 94.8% 96.2% - 1.5% 94.5%
Dec 91.3% 93.8% - 2.6% 94.5% 94.5% 96.1% - 1.6% 94.3%
Jan 91.3% 93.9% - 2.7% 94.4% 94.4% 93.9% + 0.5% 91.3%
Housing Affordability Index Nov 147 144 + 2.5% 153
Dec 154 138 + 11.4% 151 -- -- -- --
Jan 157 144 + 8.8% 154
Months Supply of Inventory Nov 6.3 NA --
Dec 5.7 NA -- -- -- -- -- --
Jan 5.6 NA --

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 14
Annual Review
A free research tool from the Austin Board of REALTORS®

January through April

Closed
April Sales Days on Market Until Sale
30,293 30,293 70 $171,500 67
67
28,049 $160,000
26,892 26,892 $152,500
59 57
22,042 22,042 22,380

+ 22.0% + 12.6% - 7.4% - 20.2% - 3.1% - 12.8% - 2.4% + 17.1%

96.2% 96.3% 96.8% 96.2% 96.3% 96.8%

2004 2005 2006 2007 2008 2004 2005 2006 2007 2008

Median Sales Price Percent of Original List Price Received at Sale

$184,000 $187,500
$171,500
$160,000
$152,500
96.8%
96.2% 96.3% 96.1%

94.3%

+ 4.9% + 7.2% + 7.3% + 1.9%

+ 0.1% + 0.5% - 0.7% - 1.8%

2004 2005 2006 2007 2008 2004 2005 2006 2007 2008

All data from the ABOR Multiple Listing Service. Reports are created and maintained by the Minneapolis Area Association of REALTORS®. 15