Austin-area home sales last month were the highest since September – a sign the market is stabilizing.
The Austin Board of Realtors said Wednesday that 1,601 single-family homes sold last month, with the median price of $189,000.

Although sales were down 18 percent on a year-ago basis, board Chairman Jay Gohil said that was the smallest percentage decline this year. “With each month, the gap in sales volume from 2008 to 2009 is closing,” he said. The April percentage decline was half as big as the gap in January.

There were 1,919 sales in the pipeline for May, the most since July, although they were down 19 percent from a year earlier and the median price was 1 percent higher than a year ago. Currently there is about a 6 month supply of homes for sale which is considered a balanced market between supply and demand.

With the change in the economy, it appears to me as though people want to put their money into a tangible asset – something they can see and enjoy. It appears that houses under $250,000 are selling faster while those above $350,000 are sitting longer.

Now is a good time to buy, with ample inventory to choose from, low 4.75 percent interest rates, a $8,000 first-time buyer tax credit, and some sellers reducing prices.  Call me at (512) 914-2573 andI’ll go right to work for you!