2008 definitely showed a decline in the numbers of homes sold but the stability in the Austin real estate market is highlighted in its median price.  While most cities saw a decline in median home prices, Austin produced a 2% increase. 

According to the Austin Board of Realtors®, here were the year-end totals for 2008:

• Total dollar volume of single-family properties sold was $5,004,647,938, a 21 percent decrease from 2007
• The median price was $189,500, a 2 percent increase from 2007
• 20,199 single-family homes were sold, a 20 percent decrease from 2007
  

For an in-depth look at Austin's Real Estate market for 2008, please review the Gracy Title 2008 Year In Review- MLS Area Statistics attachment .