January 13, 2012

Current, Active Acreage Listings – Take a look at the table below to see how much inventory is out there today. As you can tell, it is taking a while to move some of the listing inventory with both the Average and Median Days on Market being over a year on the market (DOM = Days on Market).

2011 Acreage market summary:

From the table above, you can see that we have 146 Active Listings with an Average List Price of $775,600 (rounded) and a Median List Price of $449,500. The Average Days on Market ("DOM") is 526 days which is a long time for a listing to be on the market.

In the table below, note the Acreage Sales by price bracket in increments of $250,000.

1/13/2012 4:29:17 PM

Note that there were 29 Acreage Sales (about 73%) under $500,000 in 2011 and there were only seven (7) Acreage sales at a minimum of $1,000,000 or more.

The Average Sales Price per listing is $457,000 (rounded) and the Median Sales Price is $232,000. Listings are selling at about 91% of the List Price and the Average DOM is 331 days.

With 146 Active Acreage Listings selling at the rate of 3.3 sales per month (or 40 for the year, we have about 44 months (or 3.7+/- years) of supply. Most of the sales occurred below $500,000 and there were only seven sales at $1,000,000 or more.

Note the following from the table above:

29 / 40 or 73% SOLD for less than $500,000;

7 / 40 or 17.5% SOLD for $1 million or more.

	2010	2011
Total # Sales	25	40
Average Sales Price	$465,600	$457,394
Median Sales Price	$240,000	232,000
Days on Market	284	331
Total $$ Inventory Sold*	$11,174,000	$18,296,000
*rounded

Summary: The good news is that the number of sales increased by 15 units or 60% with minimal price decline and the Total Dollars sold increased by 63%! However, DOM also increased by 17%; so, in 2011, there were more sales made for less money and it took longer to sell them.

Fredericksburg and the Texas Hill Country is still a great place to be if you like a clean, relaxed living environment away from the big city bustle but still convenient to shopping, air travel, and visiting relatives. There is a sense of "community" here that is very difficult to duplicate in other areas and the only way to understand it is to spend some time here and feel it for you. If we can help, please be in contact with us!

We post all our listings on the web site at FBGLiving.com, but you can also plug in your parameters and search the entire MLS for what you want to find. Better yet, stop by and tells us about it. We can pull up the listings right before your eyes in real time. Newspapers, magazines, and many national secondary sites can get out of date in a hurry, but when we plug you in to the MLS locally, the information you get is current up to the minute any Realtor makes a change on line. Come on in and let's talk about what you need!

Thanks for reviewing the market with us. Please let us know if you would like market analysis specific to property you are buying or selling!

The information provided in this or any of our articles is believed to be accurate and from reliable sources, but specifically NOT guaranteed. Readers are urged to do their own due diligence PRIOR TO MAKING ANY BUSINESS DECISION!