May 4, 2012

How many million dollar and up listings do we have in Gillespie County? Well, according to the local MLS as of May 4, 2012, we have 83 as shown in the table below:

These listings are spread out over various price brackets and shown in the next table which categorizes them into $250,000 list price increments:

Price Range	Count	Sum Price	Average Price	Median Price	Avg DOM
$1,000,000 - $1,249,999	19	$21,882,398	$1,151,705	$1,161,600	396
$1,250,000 - $1,499,999	22	$29,006,575	$1,318,481	$1,295,000	441
$1,500,000 - $1,749,999	13	$20,775,400	$1,598,108	$1,600,000	228
$1,750,000 - $1,999,999	11	$20,275,330	$1,843,212	$1,800,000	390
$2,000,000 - $2,249,999	1	$2,167,000	$2,167,000	$2,167,000	697
$2,250,000 - $2,499,999	7	$16,365,000	$2,337,857	$2,300,000	865
$2,500,000 - $2,749,999	1	$2,589,842	$2,589,842	$2,589,842	778
$2,750,000 - $2,999,999	1	$2,835,600	$2,835,600	$2,835,600	407
$3,000,000 - $3,249,999	3	$9,440,000	$3,146,667	$3,200,000	288
$4,000,000 - $4,249,999	1	$4,000,000	$4,000,000	$4,000,000	445
$4,250,000 - $4,499,999	2	$8,900,000	$4,450,000	$4,450,000	664
$4,750,000 - $4,999,999	1	$4,850,000	$4,850,000	$4,850,000	1600
$6,250,000 - $6,499,999	1	$6,267,500	$6,267,500	$6,267,500	87
Totals:	83	$149,354,645
Averages:			$1,799,454	$1,500,000	443

5/4/2012 5:42:11 PM

Note in the above table that 65 of the 83 (or 78%) are priced under $2,000,000, and the rest are scattered out all the way up to $6,500,000. The Average Days on Market (“DOM”) is 443 days.

Next, let’s look at SALES of the million dollar listings over the past year (5/1/2011 to 4/30/2012). Refer to the table below:

Price Range	Count	Sum Price	Average Price	Median Price		Average DOM
$1,000,000 - $1,249,999	4	$4,556,668	$1,139,167		$1,150,000	258
$1,500,000 - $1,749,999	1	$1,561,395	$1,561,395		$1,561,395	484
$1,750,000 - $1,999,999	2	$3,650,000	$1,825,000		$1,825,000	721
Totals:	7	$9,768,063
Averages:			$1,395,438		$1,225,000	423

5/4/2012 5:49:30 PM

Regarding Sales, I noted above that five (5) of seven (7) sold for less than $1,750,000 and all seven (7) went for less than $2,000,000. The DOM for the sold listings was 423 days.

1.      WITH 83 ACTIVE LISTINGS AND 7 SALES IN THE PAST 12 MONTHS, GILLESPIE COUNTY HAS PLENTY OF INVENTORY FOR BUYERS!

2.      BUYERS HAVE A LOT TO CHOOSE FROM AND WITH OVER 400 DOM, SOME SELLERS MAY BE READY TO DEAL!

3.      IN ORDER TO STAND OUT IN THE CURRENT MARKET, MILLION DOLLAR SELLERS WILL NEED TO KEEP THEIR PROPERTY IN GOOD SHAPE AND PRICE IT AS COMPETITIVELY AS THEY CAN.

4.      WE KNOW THE MARKET WILL RETURN FOR SELLERS, BUT WE DO NOT KNOW WHEN.

5.      MOST OF THE SALES MADE IN THE PAST YEAR HAD EITHER SOME FORM OF SURFACE WATER OR OUTSTANDING VIEWS!

IF YOU WANT A FANTASTIC PLACE IN THE HILL COUNTRY NEAR FREDERICKSBURG, NOW IS THE TIME TO MAKE YOUR DEAL! CONTACT GREG OEHLER, BECKY MORSE, OR WILLIE GOLD FOR INFORMATION ON THE PERFECT PLACE TO SUIT YOUR NEEDS.

Thanks for reviewing the market with us. Please let us know if you would like market analysis specific for property you are buying or selling! And remember, the data presented here is from our MLS information and deemed to be reliable, but specifically NOT GUARANTEED! Consult your own real estate expert and do your own due diligence PRIOR to making any business decision!