Lake Travis Real Estate Market Trends August 2009
| Trends At A Glance | Aug-09 | Previous Month | Year-over Year |
Median Price | $340,000 | $339,900 (+.00%) | $410,000 (-2.06%) |
Average Price | $442,725 | $429,687 (+2.95%) | $506,919 (-14.50%) |
No. of Sales | 75 | 71 (+5.03%) | 67 (+10.67%) |
Pending Properties | 64 | 75 (-17.19%) | 58 (+9.37%) |
Active | 777 | 815 (-4.89%) | 810 (-4.25%) |
Sales vs. List Price | 92% | 94% | 95% |
Days On Market | 120 | 110 (+8.33%) | 103 (+14.17%) |
Lake Travis Area Pending Home Sales Point to Improving Real Estate Market
Pending sales of Lake Travis area single family homes were up 9.37% year-over-year in August. In the Lake Travis area, 40% of the year-to-date home sales were under $300K and an additional 20% of the homes sold were priced between $300-$400K. With the end of the federal tax credit for first-time home buyers ending November 30th, we expect sales to be strong through the end of October.
Lake Travis area home sales were up in August, increasing 5.03% from July. Year-over-year, Lake Travis area home sales were up 10.67%. Year-to-date, Lake Travis home sales are down 9.5%.
Inventory declined last month, down 4.90% from July and down 4.25% compared to last August.
The median price remained constant from July and was down 20.58% compared to August 2008. The average price rose 2.9% from July and was down 14.5% year-over-year.
The sales price to list price ratio declined 200 basis points to 92% most likely due to strong price adjustments in the market to get homes sold.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me at 512.657.4455.