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Emerging Economic Vitality in Fredericksburg TX Real Estate Market

Posted in: Market Updates
By SAGE - Premium Texas Real Estate
Jan 25, 2015 - 6:03:33 PM

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As the economy goes, so goes the Fredericksburg TX real estate market.  And 2014 tipped out as one of the most prosperous years yet.  Various indicators portend a strong and emerging economic scenario in the captivating small city of Fredericksburg, Texas.  

Fredericksburg offers a high-quality lifestyle in the heart of Texas Hill Country.  Destination shopping and cultural activities, great recreation, award-winning medical facilities and superior schools coupled with friendly German American hospitality and one-of-a-kind B&Bs along the Texas Wine Trail - the surrounding Fredericksburg TX real estate market is inviting for families, retirees, vacation homes, and everything in between.  The community is about an hour west of Austin and north of San Antonio.

The executive director of the Gillespie County Economic Development Commission (GCEDC) says many records were broken last year, according to Matt Ward in the Fredericksburg Standard (1/21/2015).  From 2013 to the end of 2014, the Economic Development Commission experienced a 141-percent more inquiries explained executive director Tim Lehman Berg to Ward.  Thanks to the report in the Frederick Standard, we offer the following details.
Highlights of Economic News in Fredericksburg Texas

Record highs for sales tax revenue:
Year-over-year beginning in November 2013, the city and County government received sales tax revenues approaching $7 million.  Fredericksburg's revenues were up 6.7 percent.

Record highs for lodging receipts:
For the first 9 months of 2014, lodging receipts tallied 12 percent above the same.  In 2013.  Complete data will be available at the end of February 2015.

Record highs for real estate and hotel development:
Experts have long said that the number of building permits is one of the strongest indicators of the status of any real estate market.  In 2014, building permits issued in the city limits of Fredericksburg topped record for 2008 by going from $17,194,648 to $17,420,000.  The number of building permits issued increased 113 percent year-over-year between 2013 and 2014.
In addition, Gillespie County real estate sales in 2014 approached $140 million, surpassing the previous record by 2-3 percent.  The total number of properties sold (483), inched past the 2006 total number sales (478).

Record lows in unemployment
In Gillespie County, the unemployment rate dipped to 2.9 percent in November 2014.  It was 3.6 percent in November 2013.

Sage Premium Texas Real Estate

For more information about Fredericksburg Texas real estate, including homes, estate home tracts, large tracts, ranches, and Texas Hill Country homes, please contact Dale Cook of Sage Premium Texas Real Estate in Fredericksburg at 830-997-1035.

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Dale E. Cook, MBA, Broker/Owner

Sage - Premium Texas Real Estate
405 N. Llano St.
Fredericksburg, TX 78624

830-997-1035 office
830-992-0056 cell

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