East Austin Home Sales: University Hills

University Hills Austin Home Sales

Home sales in University Hills slowed with the rest of the Austin market at the end of 2008 as noted in a recent post. This is shown by the thin Q4 green slice left.

The first quarter of 2009 has also shown a drop in sales from previous years, as shown left. The blue slice shows that just 8 homes sold by April 1st this year.

Right now in Q2 we are in the peak selling season – see how the orange slice is generally largest in previous years.

Inventory is low right now, with 22 homes available with 8 under contract. Some lenders are taking longer to close loans right now, so assuming a closing time of 45 days from contract acceptance, this puts us at approximately

At the present rate this equates to around 4 months of inventory - technically a sellers’ market again.

University Hills Home Listings 2009

What the inventory analysis does not show is the discouragement of some sellers right now. The chart above shows that as many home sales failed this year (green and yellow) as succeeded (red).

True, many of the listings that expired or were withdrawn were on the market at the end of last year, when sales were very sluggish across all of Austin.

Given that market perception lags behind the market, the sellers who are on the market now will reap the rewards of low competition. There are relatively  few homes to choose between right now in University Hills.

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