Austin Real Estate Stats: Q2 Year Over Year Change

More signs that the market in Austin is stabilizing.  It looks like we’ll get out of the recession without depreciating much (overall.)  Within the next couple of days, I’m going to break down sold volume into price point – it should be really telling.

Here are links to the 2008 Q2 stats and the 2009 Q2 stats.  These numbers were run manually and are pulled from the residential section of the ACTRIS MLS.  Here’s the excel sheet, if you care to download it.

As you can see, the bleeding is slowing down.  We’re on course to depreciate (on average) by 3-5%.  However, median prices are holding fairly strong.  The closer you are to the $200k price range, the better the market is holding up.  In my opinion, this is due in large part to the first time home buyer tax credit, and historically low interest rates.  It’s a great time for first time home buyers to get into the market.  On the flipside, the luxury market (which I’ll post stats for) is hurting.  This causes the disparity between the average & median price changes.