A RESEARCH TOOL PROVIDED BY THE AUSTIN BOARD OF REALTORS® April 2013 Quick Facts Residential Sales Report + 9.8% Change in Median Sales Price The S&P/Case-Shiller Home Price Index recently showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years. At long last, major national indices are telling the story that local MLS data users have known for months or even years. Yes, the housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up. - 30.1% Change in Inventory + 24.3% Change in Closed Sales Market Overview 2 New Listings 3 Pending Sales 4 Closed Sales 5 Days On Market Until Sale 6 Median Sales Price 7 Average Sales Price 8 9 Housing Affordability Index 10 Inventory of Homes for Sale 11 Months Supply of Inventory 12 Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of May 10, 2013. All data from ABOR Multiple Listing Service. Powered by 10K Research and Marketing. Click on desired metric to jump to that page. New Listings in the Austin region increased 9.4 percent to 4,041. Pending Sales were up 30.4 percent to 3,443. Inventory levels shrank 30.1 percent to 6,510 units. Prices turned higher. The Median Sales Price increased 9.8 percent to $225,000. Days on Market was down 29.8 percent to 46 days. Absorption rates improved as Months Supply of Inventory was down 43.0 percent to 2.7 months. The prickliest thorns in our collective side are still lack of inventory and subdued listing activity. In some neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That's causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery. Percent of List Price Received
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A RESEARCH TOOL PROVIDED BY THE AUSTIN BOARD OF REALTORS®
April 2013 Quick Facts
Residential Sales Report
+ 9.8%
Change inMedian Sales Price
The S&P/Case-Shiller Home Price Index recently showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years. At long last, major national indices are telling the story that local MLS data users have known for months or even years. Yes, the housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up.
- 30.1%
Change inInventory
+ 24.3%
Change inClosed Sales
Market Overview 2New Listings 3Pending Sales 4Closed Sales 5Days On Market Until Sale 6Median Sales Price 7Average Sales Price 8
9Housing Affordability Index 10Inventory of Homes for Sale 11Months Supply of Inventory 12
Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of May 10, 2013. All data from ABOR Multiple Listing Service. Powered by 10K Research and Marketing.
Click on desired metric to jump to that page.
New Listings in the Austin region increased 9.4 percent to 4,041. Pending Sales were up 30.4 percent to 3,443. Inventory levels shrank 30.1 percent to 6,510 units.
Prices turned higher. The Median Sales Price increased 9.8 percent to $225,000. Days on Market was down 29.8 percent to 46 days. Absorption rates improved as Months Supply of Inventory was down 43.0 percent to 2.7 months.
The prickliest thorns in our collective side are still lack of inventory and subdued listing activity. In some neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That's causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery.
Percent of List Price Received
Market OverviewKey market metrics for the current month and year-to-date.
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2
4.8
169 - 1.5%
- 30.1%
- 43.0%
6,510
2.7
180
--
-- --
--
--Months Supplyof Homes for Sale
Inventory of Homes for Sale
+ 9.8% $194,056 $213,000
+ 2.3%
+ 9.8%
+ 2.3% 94.5% 96.7%95.7% 97.9%
Housing Affordability Index
Median Sales Price
Average Sales Price
Percent of OriginalList Price Received
$263,545
172
9,311
177 - 1.5%
--
$250,866 $277,409 + 10.6%
$205,000 $225,000
$304,481 + 15.5%
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
New Listings A count of the properties that have been newly listed on the market in a given month.
MonthPrior Year
Current Year
+ / –
May 3,544 3,830 +8.1%
June 3,551 3,753 +5.7%
July 3,164 3,291 +4.0%
August 2,702 3,086 +14.2%
September 2,484 2,454 -1.2%
October 2,483 2,537 +2.2%
November 2,052 2,226 +8.5%
December 1,585 1,569 -1.0%
January 2,593 2,603 +0.4%
February 2,892 2,967 +2.6%
March 3,741 3,737 -0.1%
April 3,695 4,041 +9.4%
3,756 3,6954,041
2011 2012 2013
April
13,181 12,921 13,348
2011 2012 2013
Year To Date
+3.3%-1.6% +9.4% -2.0%
12-Month Avg 2,874 3,008 +4.7%
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 3
Pending Sales A count of the properties on which contracts have been accepted in a given month.
MonthPrior Year
Current Year
+ / –
May 2,253 2,738 +21.5%
June 2,187 2,592 +18.5%
July 2,102 2,449 +16.5%
August 1,860 2,331 +25.3%
September 1,695 1,966 +16.0%
October 1,633 2,037 +24.7%
November 1,463 1,821 +24.5%
December 1,265 1,621 +28.1%
January 1,701 2,167 +27.4%
February 2,017 2,419 +19.9%
March 2,489 3,006 +20.8%
April 2,641 3,443 +30.4%
2,107
2,641
3,443
2011 2012 2013
April
7,168
8,848
11,035
2011 2012 2013
Year To Date
+24.7%+25.3% +30.4% +23.4%
12-Month Avg 1,942 2,383 +22.7%
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 4
Closed Sales A count of the actual sales that have closed in a given month.
MonthPrior Year
Current Year
+ / –
May 2,081 2,641 +26.9%
June 2,356 2,872 +21.9%
July 2,182 2,624 +20.3%
August 2,226 2,674 +20.1%
September 1,823 2,019 +10.8%
October 1,603 2,207 +37.7%
November 1,499 1,843 +22.9%
December 1,737 2,039 +17.4%
January 1,198 1,583 +32.1%
February 1,433 1,811 +26.4%
March 2,104 2,391 +13.6%
April 2,145 2,667 +24.3%
1,860
2,145
2,667
2011 2012 2013
April
5,926
6,880
8,452
2011 2012 2013
Year To Date
+22.8%+15.3% +24.3% +16.1%
12-Month Avg 1,866 2,281 +22.9%
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 5
Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month.
MonthPrior Year
Current Year
+ / –
May 76 61 -19.8%
June 72 55 -24.0%
July 74 58 -21.7%
August 77 58 -24.9%
September 78 61 -22.0%
October 80 64 -20.9%
November 80 63 -21.1%
December 84 66 -20.7%
January 83 66 -20.4%
February 82 65 -20.6%
March 79 59 -25.2%
April 65 46 -29.8%
81
65
46
2011 2012 2013
April
88
76
58
2011 2012 2013
Year To Date
-24.4%-19.7% -29.8% -13.7%
12-Month Avg 77 59 -22.7%
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 6
Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month.
MonthPrior Year
Current Year
+ / –
May $192,000 $208,000 +8.3%
June $198,000 $214,000 +8.1%
July $190,000 $210,000 +10.5%
August $191,500 $204,000 +6.5%
September $185,000 $195,000 +5.4%
October $187,785 $195,000 +3.8%
November $184,000 $197,000 +7.1%
December $187,000 $207,500 +11.0%
January $176,600 $196,000 +11.0%
February $190,000 $203,584 +7.1%
March $197,000 $214,900 +9.1%
April $205,000 $225,000 +9.8%
$189,900$205,000
$225,000
2011 2012 2013
April
$185,000$194,056
$213,000
2011 2012 2013
Year To Date
+9.8%+8.0% +9.8% +4.9%
12-Mo. Median $190,000 $207,000 +8.9%
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 7
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.
MonthPrior Year
Current Year
+ / –
May $259,972 $268,216 +3.2%
June $262,654 $276,759 +5.4%
July $255,611 $275,200 +7.7%
August $250,351 $266,532 +6.5%
September $244,565 $257,008 +5.1%
October $247,299 $267,060 +8.0%
November $242,489 $264,018 +8.9%
December $242,435 $276,987 +14.3%
January $223,971 $254,893 +13.8%
February $248,248 $258,937 +4.3%
March $255,021 $276,104 +8.3%
April $263,545 $304,481 +15.5%
$260,963 $263,545
$304,481
2011 2012 2013
April
$246,641 $250,866
$277,409
2011 2012 2013
Year To Date
+ 10.6%+ 1.0% + 15.5% + 1.7%
12-Month Avg $251,381 $271,907 +8.2%
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 8
Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
93.6% 95.7% 97.9%
2011 2012 2013
April
92.8% 94.5% 96.7%
2011 2012 2013
Year To Date
+2.3%+2.3% +2.3% +1.8%
12-Month Avg 93.7% 95.9% +2.4%
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Historical Percent of Original List Price Received
92.8% 94.5% 96.7%
2011 2012 2013
Year To Date
+2.3%+2.3% +2.3% +1.8%
Housing Affordability Index
MonthPrior Year
Current Year
+ / –
May 168 172 +2.7%
June 165 169 +2.4%
July 170 174 +2.0%
August 174 177 +2.0%
September 181 187 +3.3%
October 177 186 +4.9%
November 182 185 +1.9%
December 180 179 -0.3%
January 192 191 -0.2%
February 182 181 -0.5%
March 175 173 -1.1%
This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
166 172 169
April
170180 177
Year To Date
-1.5%+3.3% -1.5% +5.8%April 172 169 -1.5%
12-Month Avg 176 179 +1.3%
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 10
Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month.
MonthPrior Year
Current Year
+ / –
May 12,089 9,544 -21.1%
June 12,170 9,844 -19.1%
July 11,926 9,806 -17.8%
August 11,288 9,443 -16.3%
September 10,583 8,891 -16.0%
October 10,102 8,303 -17.8%
November 9,439 7,751 -17.9%
December 8,325 6,628 -20.4%
January 8,324 6,379 -23.4%
February 8,500 6,407 -24.6%
March 8,980 6,550 -27.1%
April 9,311 6,510 -30.1%
11,870
9,311
6,510
2011 2012 2013
April
-30.1%+3.3%
12-Month Avg 10,086 8,005 -21.0%
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 11
Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
MonthPrior Year
Current Year
+ / –
May 7.4 4.8 -35.2%
June 7.3 4.9 -33.0%
July 7.0 4.8 -31.3%
August 6.5 4.5 -30.3%
September 6.0 4.2 -29.7%
October 5.7 3.9 -31.7%
November 5.3 3.6 -32.1%
December 4.6 3.0 -34.8%
January 4.6 2.8 -37.6%
February 4.6 2.8 -38.3%
March 4.7 2.8 -40.2%
April 4.8 2.7 -43.0%
7.6
4.8
2.7
2011 2012 2013
April
-43.0%-37.0%
12-Month Avg 5.7 3.7 -34.3%
All data comes from the ABOR Multiple Listing Service. Provided by the Austin Board of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 12