The Texas Real Estate Center at Texas A&M University has just published data from August sales in comparison with August 2008. Overall, the median price dropped 1% year over year - to get some perspective, the national price dropped 2.8%. Below, by looking at each area you can get a better idea of what's happening in your neck of the woods.
Here in the Austin area, we saw a 4% median price reduction - and we're down 10% in the number of transactions closed. It will be interesting to see the data from September - November. With the rush of many first time home buyers closing before the Dec. 1 deadline, I anticipate we'll see the number of transactions increase - and the median price to remain fairly steady.
| Sales |
Change from |
Median Price |
Change from Last Year |
Months' Inventory | |
| Austin | 1,996 | down 10% | $187,000 | down 4% | 6.7 |
| Dallas | 4,183 | down 15% | $161,500 | up 1% | 6.5 |
| Fort Worth | 756 | down 17% | $116,300 | down 4% | 6.8 |
| Houston | 5,555 | down 11% | $159,700 | up 1% | 6.8 |
| Killeen–Fort Hood | 262 | up 19% | $127,100 | up 1% | 9.8 |
| Laredo | 72 | down 19% | $116,400 | down 10% | 9.4 |
| Lufkin | 48 | down 20% | $95,000 | down 17% | na |
| Odessa | 92 | down 39% | $118,700 | down 13% | 7.9 |
| San Antonio | 1,808 | up 1% | $146,500 | down 2% | 8.3 |
| Texarkana | 85 | down 11% | $111,000 | up 25% | 8.7 |
