The first question I always get when I tell someone I am a professional realtor is "How’s the Market"? Well, the market is adjusting and has changed from a seller’s market to a buyer’s market. Fortunately, real estate is local, and Austin is holding strong.
It is no surprise that Austin is in a winning position. We did not see the double-digit appreciation rates and investor-driven appreciation other cities saw.
The Austin market currently has 11,377 properties for sale. That is a 6% increase over this same time last year. That number is not bad when you compare it to a city like Phoenix, which has over 30,000 homes on the market!! As for average prices, the "New Listings" average list price is up 6.30%, to 328,479. In October 2007 the average list price was $309,024. Sold average sales prices increased 0.35%, to $241,447 from $240,606 in October 2007.
We also have a lower-than-average unemployment rate. Employment in the Austin-Round Rock region increased 1.9% between October 2007 and October 2008, outpacing many of Austin's economic development competitors, according to data released Tuesday by the U.S. Bureau of Labor Statistics.
The Austin market currently has 11,377 properties for sale. That is a 6% increase over this same time last year. That number is not bad when you compare it to a city like Phoenix, which has over 30,000 homes on the market!! As for average prices, the "New Listings" average list price is up 6.30%, to 328,479. In October 2007 the average list price was $309,024. Sold average sales prices increased 0.35%, to $241,447 from $240,606 in October 2007.
We also have a lower-than-average unemployment rate. Employment in the Austin-Round Rock region increased 1.9% between October 2007 and October 2008, outpacing many of Austin's economic development competitors, according to data released Tuesday by the U.S. Bureau of Labor Statistics.
On a personal note:
The TAAF Flag Football State Championship was this past weekend. The tournament was in Brownsville at an awesome sports complex. Our team, Austin Turbo, came in 5th out of more than 35 teams. We had high expectations for winning, but are very happy with our result and had a great time.
I am always reminded by a game like football, and my weekend at the state tournament, how important teamwork is, not only in a game like football, but in our personal and professional lives. My real estate team is as competitive as my football team . We work together to create an over-the-top client experience and have the skill level and experience to overcome any challenges that may arise during a real estate transaction.
Thanks for your time and interest
I am always reminded by a game like football, and my weekend at the state tournament, how important teamwork is, not only in a game like football, but in our personal and professional lives. My real estate team is as competitive as my football team . We work together to create an over-the-top client experience and have the skill level and experience to overcome any challenges that may arise during a real estate transaction.
Thanks for your time and interest
Ben
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