Austin Real Estate Market Statistics for March 2008

The Austin market contines to move along at slower yet steady pace. Since all the subprime issues in September the Austin market,like most of the country, has taken a noticeable hit. On the one hand the Austin real estate market is slower than this time last year. But it is still outperforming a extremely anemic national market.

Basically it seems many parts of the country had underlying problems that were exposed by the subprime meltdown. On the other hand Austin didnt seem to have the same underlying problems but the changes in lending standards have still hurt Austin. Namely by eliminating subprime loans a portion of potential buyers have been taken off the market.

Lets break out some of the submarkets in Austin.



The real estate market in central Austin is outperforming the suburbs. And the west side of Austin is currently doing better than east Austin. Some people have been waiting for the market for the Austin Condo market to tank. While we have seen an increase in the number of listings we are not seeing a drop in prices and sales have picked up a little over the last few months. That said I would still recommend a house over a condo at this time in the Austin market.

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