How did Austin Real Estate do in 2010?

For the overall Greater Austin area, as recorded by the Austin Board of Realtors MLS--here is the overview and "typical" home sold during 2010:

• 17,425 Single Family Residences Sold in 2010
• In 2009, 18,636 homes sold -- about 7% shrinkage in market size
• 1,917 condos and townhouses sold in addition to the above SFR's 
• In 2009 1,869 sold-- about 2.5% increase in units sales
• 19,342 total homes sold in 2010 
• Typically these homes were 3 bedrooms / 2 baths
• ~ 2000 to 2200 sf
• Mean and Median price: from $195,000 - $255,000
• M and M price has gone up YoY from 2009; up from ~ $190k - $246k
• The most expensive home sold in 2010 was: $5.1M
• 11 bedrooms, 22 bath rooms, just under 12,000 sf
• In 2009, the most expensive home sold was $5.5M
• 9 bedrooms, 9 baths; 15,000 sf

Price stratification of homes sold:
 

• (5,042) sold under $150,000
• (3,965) sold from $150 - 199k
• (2,396) sold from $200 - 249k
• (1,660) sold from $250 - 299k
• (1,143) sold from $300 - 349k
• (946) sold from $350 - 399k
• (558) sold from $400 - 449k
• (401) sold from $450 - 499k
• (246) sold from $500 - 549k
• (221) sold from $550 - 599k
• (273) sold from $600 - 699k
• (179) sold from $700 - 799k
• (112) sold from $800 - 899k
• (67) sold from $900 - 999k
• (216) sold from $1M and over

All in all, the Austin market is quite healthy compared to the national Real Estate market, and not doing poorly compared to 2009. Home values are up slightly, while unit sales were slightly down. We have seen an increase in Foreclosures in certain areas of Greater Austin and the promise of more to come over the coming year. We have also seen a return of investment capital from both inside and outside the Austin area. While first time home buyers dominated entry price points, we have seen a return of Luxury Home buyers as well--well into the $MM home spectrum. Low interest rates have driven much interest among buyers of all financial means, and among investors as well.

Austin continues to take a leadership role in leading the nation out of these uncertain economic times. 2010 was a solid year, and 2011 has hope of a return to more normal market conditions.