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Austin Real Estate Market Update March 2009

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According to the most recent market statistics released from the Austin Board of REALTORS®, Austin appears to be weathering the national recession well. The Austin real estate market continues to outperform many other US cities. While the overall number of homes sold in March of 2009 was lower than homes sold in March of 2008, prices have fallen only moderately over the last two quarters. The number of single-family homes has actually risen by 25% since February of this year. In addition, sold prices are up 2% per square foot which indicates a relatively strong housing market in comparison to other cities around the country.

Austin and the surrounding areas are excellent places to consider purchasing a home - With superior schools and affordable home prices, Round Rock was recently voted the seventh best place to live in the US according to a recent poll by Money Magazine. Builder Magazine named the Austin housing market the second healthiest for 2009. Furthermore, Austin is known for being environmentally conscious, landing 13th among the Environmental Protection Agency’s nationwide survey of cities with the most Energy Star-certified buildings.

Take these factors, combined with the opportunity for first-time home buyers to receive an $8,000.00 tax credit and interest rates as low as 5.10% (as of 4/7/09, according to bankrate.com), and this is an excellent time to consider purchasing Austin real estate.

Read more on the March 2009 market update and statistics from Regent Property Group by visiting their blog. Click to find Austin homes for sale, learn more about Austin neighborhoods and subdivisions, and find other related blog entries and information.

Brian Talley
Owner/Real Estate Broker
Regent Property Group

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