The Austin area has rebounded strongly this year. The Austin metro area added 6000 jobs in March which lowered the unemployment rate to 7.1% (Texas 8.2%; U.S. 9.7%). Recent articles in CNN Money and Forbes have noted Austin's relative economic health nationally as the #1 metro area in the nation. Dallas and Houston have also remained relatively healthy, which reflects the strength of the Texas economy as a whole.

The tax credits combined with record low interest rates around 5% started 2010 off strong. With the historically active Spring and Summer seasons approaching, the future is bright.

If you average the number of sales for the last 12 months and divide that figure into the number of current active listings, the result is called the number of Months of Inventory (MOI). In a balanced market, the MOI is between 3.5 and 4.5 months. Currently, the MOI in the Austin market is at 7.8 months, which favors home buyers. The average days on the market for single-family homes to sell has dropped slightly to 73 days.
The Austin Real Estate Market:

Average sold price - up 2% from a year ago to $240,107

Number of Sales YTD - up an impressive 12% compared to March '09

Number of Active Listings - up less than 1% from Feb. to 9401 listings

Months of Inventory - there is 7.8 MOI; an oversupply, favoring buyers

Average days on market - decreasing slightly to 73 days

The Georgetown Real Estate Market:

Average sold price - up 2.2% from a year ago to $229,407

Number of Sales YTD - up an impressive 50% compared to last March

Number of Active Listings - up 4% from February to 579 listings

Months of Inventory - there is 8.3 MOI; an oversupply

The Round Rock Real Estate Market:

Average sold price - up 1.4% from last March to $215,600

Number of Sales YTD - up 17.4% compared to last March

Number of Active Listings - up 6.4% from February to 811 listings

Months of Inventory - there is 5.6 MOI; an oversupply

The Pflugerville Real Estate Market:

Average sold price - down slightly from a year ago to $162,737

Number of Sales YTD - up 12.6% compared to this time last year

Number of Active Listings - up 4.1% from February to 459 listings

Months of Inventory - there is 6.2 MOI; an oversupply

The Cedar Park & Leander Real Estate Market:

Average sold price - down 1.9% from a year ago to $203,251

Number of Sales YTD - up 10% compared to this time last year

Number of Active Listings - up 35% from February to 701 listings

Months of Inventory - increasing to 5.8 MOI; a slight oversupply

The North & Northwest Market:

Average sold price - up 14.3% from a year ago to $304,430

Number of Sales YTD - down 2.4% compared to this time last year

Number of Active Listings - up 11.7% from February to 373 listings

Months of Inventory - increased to 5.2 MOI, a slight oversupply

The River North (FM 2222) Market:

Average sold price - down 11.3% from a year ago to $464,522

Number of Sales YTD - up 10.2% compared to this time last year

Number of Active Listings - up 3% from last month to 240 listings

Months of Inventory - there is 9 MOI; an oversupply

The Austin Westlake Market:

Average sold price - up 2.4% from a year ago to $695,389

Number of Sales YTD - up an impressive 41% compared to last March

Number of Active Listings - up 7.3% from February to 263 listings

Months of Inventory - there is 9.6 MOI; an oversupply

The Southwest Austin Real Estate Market:

Average sold price - up 1.3% from a year ago to $221,989

Number of Sales YTD - up 18% compared to this time last year

Number of Active Listings - up 9.5% from February to 596 listings

Months of Inventory - increased to 4.8 MOI, a slight oversupply

Lake (South shore) Real Estate Market:

Average sold price - up 6.2% from a year ago to $421,161

Number of Sales YTD - up 13.9% compared to this time last year

Number of Active Listings - up 4.6% compared to February at 664 listings

Months of Inventory - increased to 13.9 MOI, an oversupply  Mary B Battaglia