RRR Austin

Sunday, October 01, 2006

More Food for Sellers Market in Austin!!

Coldwell Banker's 2006 home price comparison index showed that the avg price of a 2200 sqft home is $220,000. A suburb town 45 min from the Greater Austin Area, Killeen, is rated as the 2nd most affordable area in TX with housing avg of $140,310.

Dallas, was reported as the most expensive area with housing avg of $288,278.

Helen Edwards, president and chief operating officer of Coldwell Banker United, Realtors' Austin region confirms what I and other agents have been saying all along when she reported to the Austin Business Journal that, "We're still seeing a robust seller's market in Austin, as home prices continue to appreciate...As interest rates remain unsteady, combined with low inventory of properties on the market, homeowners will undoubtedly continue to see improvement on their housing investment."

In my most recent market report, it showed that NO area in Austin has depreciated Year to Date and we've continually had less homes listed compared to the same time last year, BUT more homes sold compared to the same time last year.

The number one principle of economics (and probably the only one I know) of supply and demand shows that when the supply is low, as it is in Austin, and the demand is high, as it is in Austin, prices go UUUUPPP!

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