August 3rd, 2010 12:30 PM

Via Tim Moncrief (Bartlett Real Estate Group of Keller Williams ):

As anticipated, closings in the River North area dropped in July as most of the tax credit sales closed in June. (Area market report link is below) 

Steiner Ranch continues to maintain a robust rebound with its 16^th straight month in inventory declined combined by 6 straight months of sales increases.  WOW!

STEINER RANCH COMMUNITY TOUR CLICK ON PICTURE

 Though some price ranges’ MOI are abnormally high, we are seeing improvement, save the $1mm to $1.5mm price range. 

As noted many times before, and I will continued to note, our area market follows suit with the national stock market, not interest rates.  This is an important statement in August, as August and September are “normally” very slow sales months; but, we are not in a normal market.  When the market adjusts, it often throws off what is considered normal. 

Employment data report comes out on Friday. The stock market and our market revolve around the creation of good jobs.  We will have to wait until Friday to see if economists are right or wrong about the report not coming out well.

Here is the link for the complete data on the River North area real estate market for July….going back to 2003.

River North Area Real Estate Market Report (JULY 2010)

Here are a few other articles of interest:

Doubling Down on Housing - Wall Street Journal

Apartment Market Occupancy, Rents are Up - Statesman

Travis County Property Appraisals fall 3.5% in Final Tally - Statesman
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