April Sales Stats and Analysis for Austin Area MLS
Below are Market Stats Comparing April 2011 to April 2010 for Travis, Williamson and Hays Counties.
• Median Sold Price – Increased 6% to $203,000
• Median Asking Price – Increased 1% to $229,900
• Number of Homes Sold – Decreased 23% to 1,467
• Homes Under Contract – Decreased 15% to 2,030
• Number of New Listings – Decreased 27% to 3,007
• Number of Available Listings – Decreased 11% to 11,043
• Average Days on Market – Increased 36% to 77 days
April marks the beginning of spring, and the kickoff of the home buying season. While many were pointing to 2011 as the year the housing market would turn the corner, the April sales stats provided little support for this hope. While some will point to last year’s Home Buyer’s Tax Credit as the key reason for lower performance in the 2011 housing market when compared to this same time last year, the picture is not so simple. There are number of factors causing headwinds for the US housing market. Lagging consumer confidence, tighter mortgage requirements, and lackluster job growth have all contributed to the housing market's slow recovery.
While the Austin area economy and housing market have fared better than the overall national market, these factors are still having an impact on the local market. If people are having trouble finding work or getting credit, they won’t be buying homes. If people considering relocating to Austin can’t sell their out-of-state home, they will either not relocate or rent.