December MLS Statistics - Austin Area Homes Sales Outpace Prior Year for 7 Straight Months

According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, single-family home sales in December 2011 outpaced the same month of the prior year for the seventh straight month, and year-end figures show momentum in Austin real estate heading into 2012.

In December 2011, a total of 1,581 single-family homes were sold in Austin, which is 11 percent more than December 2010. During the same time period, the median price for Austin homes was $187,940, which is one percent less than the same month of the prior year.

In December 2011, the inventory of Austin-area homes decreased to 4.1 months, which is 1.4 months less than December 2010 and the lowest figure reported since the organization began tracking the statistic in January 2009.

2011 Year-End Totals

19,220 – Single-family homes sold, seven percent more than 2010.

$193,000 – Median price for single-family homes, unchanged from 2010.

84 – Average number of days that single-family homes spent on the market, seven days more than 2010.

30,668 – New single-family home listings on the market, 12 percent less than 2010.

8,609 – Active single-family home listings on the market, 15 percent less than 2010.

21,002 – Pending sales for single-family homes, seven percent more than 2010.

$4,931,910,843 – Total dollar volume of single-family properties sold, nine percent more than 2010.

Runoff Continues in to Austin Area Lakes, Raising Lake Levels.

With the much needed rain the Austin area received over the weekend, as of Monday, runoff from the heavy rainfall in the Texas Hill Country over the weekend is still flowing into the Highland Lakes. At 8 am, flow is elevated at the Colorado River near San Saba, and the Llano River at Llano.

As of 8:00 this morning, the level of Lake Buchanan was rising at 988.31 ft msl, which is about 23.0 feet below its historic October average of 1,011.35 ft msl. Lake Travis was rising at 628.87 ft msl which is about 37.3 feet below its historic October average of 666.20 ft msl. The total combined storage in the Highland Lakes two water storage reservoirs, Buchanan and Travis, has increased slightly to 759,000 acre-feet, or 38 percent of capacity. The surface water temperature of Lake Travis as measured near Mansfield Dam is 78 degrees.

Releases will be made for a short period today at Buchanan Dam. Releases may occur at Inks Dam, Wirtz Dam and Starcke Dam to maintain lake levels. Releases will be made today at Mansfield Dam, mostly for City of Austin water supply. Releases from Lake Austin, for downstream users and environmental needs, will be passed through Tom Miller Dam. Releases for emergency generation could occur at any time at any of the Highland Lakes dams. Releases from Lady Bird Lake through Longhorn Dam are controlled by Austin Energy, the electric utility for the City of Austin.

The Electric Reliability Council of Texas (ERCOT) may call upon LCRA for hydroelectric generation at anytime without notice. Lakeside residents and lake users immediately downstream of the dams should take necessary precautions against possible high flows and higher lake levels.