To Delight of Buyers, Real Estate Firm Reveals Areas Where Austin Home Prices are Down

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With Austin home prices up 2% citywide for single-family Austin homes so far this year, local real estate firm Regent Property Group reveals where prices are down for the benefit of buyers looking for a good Austin real estate investment.

The study reveals that there is no pattern to price appreciation across the city, but there seems to be a pattern for areas that have experienced median price declines. As such, there is much to be gained by the buyer or investor who understands exactly where prices are declining in Austin.

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With the number of homes sold in Austin down 23% between January 1 and September 18 of 2008, it would be natural to believe that Austin home prices would have gone down with it. However, this is not the case for Austin homes. The fact of the matter is that median home prices are up 2% in Austin so far this year, offering a glimpse of the relative strength of the Austin economy compared to the rest of the country.

In order to reveal those areas of Austin that have seen price decreases this year, bucking the upward trend, Regent Property Group conducted and exhaustive analysis of median home prices for single-family homes within 51 zip codes in the Austin area. The analysis resulted in finding 14 zip codes that show price declines when comparing 2008 to 2007. However, when analyzing the sales volume within the same zip codes, Regent Property Group found that only one zip code (78705) shows that more homes were sold in 2008 than the same period of time in 2007.

According to Brian Talley, the founder of Regent Property Group, "The study reveals that there is no pattern to price appreciation across the city, but there seems to be a pattern for areas that have experienced median price declines. As such, there is much to be gained by the buyer or investor who understands exactly where prices are declining in Austin."

Regent Property Group has published the full analysis at the following link: Austin real estate statistics.

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Brian Talley
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