Austin Home Sales See 6% Increase in September
November 3rd, 2009Austin, Texas ( PRFriend ) October 30, 2009 – Sales figures for September 2009 indicate that the Austin real estate market continues to rebound, with home sales increasing by 6% over figures for the same month last year. This increase is credited in part to the implementation of the First-Time Homebuyer’s Tax Credit, which offers up to $8,000 for home buyers purchasing a primary residence.
Recently released sales figures for the month of September 2009 show a 6% increase in Austin home sales over the comparable period last year according to data just released by the Austin Board of Realtors. The figures reflect the first year-to-year comparative increase in over two years. This increase is widely regarded as good news by those in the real estate industry, as it is a further sign that Austin’s housing market is on the path to recovery from recent downturns in home sales and prices. Austin has been largely shielded from the ill effects other cities have suffered in recent years; most analysts believe this is due to the stable economic conditions in Austin, including its vibrant employment scene.
Realtor Doris Cline of Affinity Properties concurs that this is a positive sign for Austin real estate. “We’re seeing the signs of recovery in the real estate market. This is good news for homeowners, especially those looking to move up to a larger home. Chances are they’ll be able to sell their current home more quickly and easily.”
Median home prices in the Austin area also saw an increase compared to September 2008, rising 2% over the previous figures. The median home price in Austin and the surrounding areas for the month of September was $185,250. Overall, the 2009 median home price for Austin was $185,500, down slightly from the 2008 figure of $187,250. Austin home values have remained fairly stable in recent years despite the industry-wide housing bubble crash.
Austin real estate analysts attribute a portion of these increased sales to the First-Time Homebuyer’s Tax Credit, which offers significant incentives for home buyers who have not owned a home in the past three years. This assessment is due in part to the fact that nearly half of all sales in September were of homes priced between $100,000 and $200,000, the typical range for first-time buyers. The credit can provide up to $8,000 to qualified home buyers and is set to expire November 30, 2009; many real estate experts expect to see increased sales until that date at least.
About Affinity Properties
Affinity Properties is one of the most productive and experienced Austin Texas real estate brokerages. For over six years, Affinity Properties has served the commercial and residential real estate needs of the West Austin area from Lake Austin to Lake Travis, offering personalized advice and unparalleled customer service to buyers and sellers alike. Affinity Properties is a Re/Max agent in the Austin, Texas area. For more information, visit our Austin real estate websites at www.AffinityProperties.com and www.JoeCline.com.
About RE/MAX International, Inc.
RE/MAX was co-founded by Dave and Gail Liniger in 1973. From a single office in Denver, Colorado, RE/MAX has grown to be a global network of nearly 100,000 Sales Associates in more than 70 countries. No one in the world sells more real estate than RE/MAX. Today, all U.S. home listings in thousands of cities and towns can be found at www.remax.com.
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