The ABoR real estate statistics for Februrary 2009 have been released and there is evidence of improvement. Although residential home sales are down year-over-year, they surpassed the figures for February 2008. Also, you can see an increase in median home prices when compared to the same month last year.
February 2009 Home Sale Highlights
Total Volume in Home Sales: $271,048,500
Median Price: $189,900 (five percent increase from February 2008)
Number of Homes Sold: 1,116 (28 percent decrease from one year ago)
Chairman of ABoR, Jay Gohil observes, "Compared to last month, we’re seeing the year-over-year gap begin to close on sales volume and hope consumer confidence will continue to rise to further spur the market...With unprecedented incentives available to homebuyers, such as an $8,000 first-time homebuyer tax credit and some of the lowest mortgage interest rates in history, we believe many Central Texans will recognize this spring as a great time to build wealth through Austin real estate.”
To examine the statistics closer, you may review the Austin Area Report, the Austin Regions Statistics, and Residential Indicators Report. For more information, contact SusieKang@JoaRealty.com
