Austin Board of Realtors reported for Oct 2008 Real Estate Market Indicators.

• The year to date days on the market in Oct 2008 was 68 days compared to one year ago at 56 days.
• The year to date median sales price in Oct 2008 was $189,000 compared to one year ago at $183,000, which as up 3.3%
• The year to date average sales price in Oct 2008 was $245,876 compared to one year ago at $246,276, which was down 0.2%
  

In September 2008, there were 1717 pending sales, but in the month of October, only 1,188 transactions closed.  That is about 500 transactions that are still pending or failed to close.  Even in this buyers' market, economic uncertainties may sabotage a real estate transaction.  Overall, Austin Real Estate Market is still stronger compared to the national real estate market. For more info, see the original October 2008 Austin Market Indicator report and send email to Susie at Susie@JoaRealty.com for any questions.