The Austin Board of Realtors (ABOR) has released the January housing statistics for Austin. When I first saw the numbers for this month, I was a bit perplexed. ABOR showed a drop of 1.9% in the number of homes sold. However, when I compared it to the number of homes sold in January 2015, I showed a drop around 5.6%. When contacted about the discrepancy, I was told that they are using a new reporting system. Apparently, it was buried in small print at the bottom linking to another page. Frankly, I think that sort of change should be noted right upfront so people who care have an idea of what is going on. I’m not opposed to the change since I had issues with how it was done before. In the end, I have decided that, from now on, I am going to collect the data myself (and by myself, I really mean my fabulous assistant Beth will be collecting it for me to review). This means that my numbers will be slightly different than what ABOR reports because I’ll be pulling all housing types (houses, townhouses, condos, etc) while they often report only houses in their main number. Also, we’ll be pulling data on a different day and because some agents don’t report their sales in a timely manner, there will be some minor differences. Because the data set is large, I don’t expect any major conflicts. So there you have it. If you have any questions, just let me know.
Overall, the numbers look pretty much like we’ve seen lately. The inventory is tight which is reflected in a smaller number of homes selling. With the tight inventory, that is moving prices higher. Expect more of the same in months to come. If you have any questions, contact me at 512-650-7300, by email, or use the form below.
|January 2016||January 2015||Change|
|Number of Homes Sold||1,369||1,409||-2.8%|
|Days on Market||47||51||-7.8%|
|Sold Price to List Price Ratio||98.1%||97.6%||0.5%|