Austin area home sales dropped 8 percent last month compared with September 2007, new data shows.

Some 1,670 homes sold last month, contributing about $407 million to the local economy, according to the latest multiple listing service report from the Austin Board of Realtors.

The average amount of time homes are spending on the market rose 18 percent in the last year to 71 days. Meanwhile, active listings are up 2 percent to 10,217 and pending sales have dropped 10 percent to 1,520.

The tougher sales market has put area prices—which had been rising steadily prior to the downturn—in check. The median home price is the same as it was last September, $186,600.

“National economic troubles and limited access to credit continue to impact the local housing industry,” says Socar Chatmon-Thomas, the chairman of the Austin Board of Realtors. Still, Chatmon-Thomas says Austin is managing to avoid some of the pitfalls other cities in the country are seeing and should be able to help lead the economic turnaround.