I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on the Austin MLS data for the month of July.

The number of active listings are up over 21% over last year.

Pendings (homes under contract) are down over 50% and Sold Homes are down 17% . We are seeing more inventory of homes on the market  and it is taking longer to sell them especially if they aren't priced under their competition.

The Sold average prices are up about 5% from last year. Even though sales are down the prices are still stable and rising a little. But I think that may change over the 2nd half of the year.

Housing Inventory Snapshot July  08
  Average List Price Median List Price Average Days On Market
Travis County, TX
Single Family under $400K $233,136 $224,900 75
Single Family over $400K $924,285 $625,000 112
Condo/Townhome under $300K $204,744 $237,500 88
Condo/Townhome over $300K $413,743 $365,000 121
Williamson County, TX
Single Family under $200K $157,751 $159,900 68
Single Family over $200K $361,758 $299,000 91
Condo/Townhome under $150K $115,234 $104,500 127
Condo/Townhome over $150K N/A N/A N/A
Hays County, TX
Single Family under $300K $193,400 $188,000 83
Single Family over $300K $568,884 $462,745 114
Condo/Townhome under $100K N/A N/A N/A
Condo/Townhome over $100K $179,946 $134,900 39
Bastrop County, TX
Single Family under $200K $136,986 $135,000 80
Single Family over $200K $333,255 $289,999 94
Condo/Townhome under $80K N/A N/A N/A
Condo/Townhome over $80K N/A N/A N/A

MORTGAGE. National Averages (July 30, 08)*
30-year fixed Rate - 6.55% APR - n/a%
15-year fixed Rate - 6.16% APR - n/a%
5/1 ARM Rate - 5.57% APR - n/a%

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.

As always each neighborhood is different  so contact us if need more information on any specific area.