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Records Set for Q2 2013 Texas Homes Sales, Kerrville Prices Down

Posted in: Market Updates, Kerrville Area
By SAGE - Premium Texas Real Estate
Aug 8, 2013 - 1:40:07 PM

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The Texas Association of Realtors recently released statistics for the Texas homes market for Second Quarter 2013.  Sales of Texas homes are cantering!  The Texas Quarterly Housing Report posted on August 5, 2013 verified that Texas homes sold and selling prices for homes surpassed previous records statewide.  The very heart of Texas Hill Country, nonetheless, remains a buyer's market.

During the Second Quarter 2013, the sales momentum statewide soared 18% to 80,000 sold homes, an increase of 12,000 over Q2 2012.  For the same time period, the housing market surrounding Texas Hill Country real estate registered dramatic increases in sales as well.  Home sales in Austin were up 18%, San Antonio up 19.5%, and San Angelo up 30%.  Closer to home in Fredericksburg, sales of homes in Kerrville increased 18%.  The Kerrville housing market represents this central area of Hill Country homes.

The median sales price for homes across Texas was $177,300; the average price was $235,075.  These numbers represent 10% increases over the Second Quarter 2012.  In Austin, the median and average sale prices increased 9% and 10%, respectively.  In San Antonio, the median and average sales prices for single-family homes increased 6%.  

However, it is a great time to buy a home in Gillespie County--the heart of Texas Hill Country where it is still somewhat of a buyers' market.  In the Kerrville home market, average home prices decreased substantially over the last year--from $233,495 to $194,073.  The median price was down 3.55%.

Existing inventory is another indicator of the steadily improving Texas housing market.  Most communities have regained home values, turning the market favorable for sellers.  In Austin, there is only a 2.8-month supply of homes on hand.  During Q2 2012, there were 4.4 months-worth of homes available.  This spring in San Antonio, there was only a 5-month supply of homes, down two months from the same period 2012.  In the Kerrville Texas real estate market for Q2, there is a 17-month supply, down from 24 months last year.  That's a 30% decline in inventory, the approximate average rate of change throughout Texas

The information contained in the Texas Quarterly Housing Report is compiled by the Real Estate Center at Texas A&M University and was released August 1, 2013.  Statistics were compiled from 48 MLS markets across Texas.

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For information about real estate and investment properties in Fredericksburg and throughout Texas Hill Country, please call Dale E. Cook, MBA and owner of SAGE - Premium Texas Real Estate located in the Chase Bank Building in Fredericksburg at (830) 992-0056.   

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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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