The Austin real estate market has improved only slightly when May 2010 is compared to May 2009. This year has shown a 16% increase in home sales and 2.6% increase in the median sold price per square foot when compared to the same time period in 2009. However May 2010 still proved to us summer is among us with a 5.2% increase in the number of homes sold and a 2.3% increase in the median sold price per square foot as compared to May 2009. It is taking less time for the average homeowner to get their home sold or leased this year when compared to 2009. There has been a significant increase in the supply of homes from 3 months to 6.5 months due to a great number of people putting their home on market for sale as we enter summer.
For a more detailed market update with average cost per square foot, numbers of homes for sale, pending, and withdrawn, and more, feel free to read my full report by clicking here: Regent Property Group Market Update.