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Willkommen!
Imagine living in the Texas Hill Country!
elcome to Fredericksburg, Texas! Our mission here is to help you purchase, sell, or lease real estate in the Texas Hill Country based on integrity and the best objective information available at the time. We are very experienced with the process and with the country, so give us a call or send us an email and let's get you moving! You can look at our listings and search our entire Gillespie County Multiple Listing Service (MLS) system right here from our website.
Also on our website, we post articles regularly about the status of the market. Our most recent is below and you may check our blogs in the past concerning sales, listings, what price homes are selling the best, what categories have the most inventory, and tips on foreclosures. You will find information on each type of real estate including residential (in Fredericksburg and in Gillespie County), Lots (single family), Acreage Farm and Ranch, Rural Subdivision Tracts, and Commercial property. Thanks for visiting and let us know how we can help you today.
May 4, 2012
FREDERICKSBURG / GILLESPIE COUNTY MILLION DOLLAR LISTING UPDATE
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:
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May 4, 2012
83 ACTIVE LISTINGS, MINIMUM LIST PRICE OF $1 MILLION
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Low
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High
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Average
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Median
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Total
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List Price
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$1,053,978
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$6,267,500
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$1,799,454
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$1,500,000
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$149,354,645
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Days on Market
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4
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1999
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443
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353
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--
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These listings are spread out over various price brackets and shown in the next table which categorizes them into $250,000 list price increments:
Market Summary (by List Price in $250,000 increments)
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Price Range
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Count
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Sum Price
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Average Price
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Median Price
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Avg DOM
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|
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$1,000,000 - $1,249,999
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19
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$21,882,398
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$1,151,705
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$1,161,600
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396
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$1,250,000 - $1,499,999
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22
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$29,006,575
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$1,318,481
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$1,295,000
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441
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$1,500,000 - $1,749,999
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13
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$20,775,400
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$1,598,108
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$1,600,000
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228
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$1,750,000 - $1,999,999
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11
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$20,275,330
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$1,843,212
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$1,800,000
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390
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$2,000,000 - $2,249,999
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1
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$2,167,000
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$2,167,000
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$2,167,000
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697
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$2,250,000 - $2,499,999
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7
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$16,365,000
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$2,337,857
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$2,300,000
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865
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$2,500,000 - $2,749,999
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1
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$2,589,842
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$2,589,842
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$2,589,842
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778
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$2,750,000 - $2,999,999
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1
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$2,835,600
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$2,835,600
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$2,835,600
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407
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$3,000,000 - $3,249,999
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3
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$9,440,000
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$3,146,667
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$3,200,000
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288
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$4,000,000 - $4,249,999
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1
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$4,000,000
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$4,000,000
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$4,000,000
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445
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$4,250,000 - $4,499,999
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2
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$8,900,000
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$4,450,000
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$4,450,000
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664
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$4,750,000 - $4,999,999
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1
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$4,850,000
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$4,850,000
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$4,850,000
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1600
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$6,250,000 - $6,499,999
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1
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$6,267,500
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$6,267,500
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$6,267,500
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87
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Totals:
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83
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$149,354,645
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Averages:
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$1,799,454
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$1,500,000
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443
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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:
SALES of Million Dollar Listings
(by Sold Price, increments of $250,000)
Minimum Sales price = $1,000,000
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Price Range
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Count
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Sum Price
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Average Price
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Median Price
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Average DOM
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$1,000,000 - $1,249,999
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4
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$4,556,668
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$1,139,167
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$1,150,000
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258
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$1,500,000 - $1,749,999
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1
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$1,561,395
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$1,561,395
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$1,561,395
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484
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$1,750,000 - $1,999,999
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2
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$3,650,000
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$1,825,000
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$1,825,000
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721
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Totals:
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7
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$9,768,063
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Averages:
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$1,395,438
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$1,225,000
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423
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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.
THE RESULTS IN A NUTSHELL!
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!
Market Information compiled by:
Greg Oehler, GRI, ABR, SRES
Real Living Fredericksburg
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