Residential sales picked up steam in 2016 over 2015.  Most all of the indicators made positive movement for the first two months of 2016.  See the table below:

 

         March 7, 2016        
    2016, 2015, 2014 Comparison of Residential Sales in Fredericksburg  
                 
  Yr. to Date # SOLD Avg Avg Avg Med Med Med
  (2 mos)   Sale Price SP/SF DOM Sale Price SP/SF DOM
                 
  2016  33 $        366,543 $  194.54 140 $        276,500 $    156.57 99 
  2015 21  $        247,634  $  150.68 203  $        229,500  $    149.24 142
  2014 23  $        210,896  $  150.17 213  $        202,000  $    132.72 184
                 
  2015-16 Results +12        $118,909  $43.86 -63  $47,000  $7.33 -43
  % 57%      48% 29% -31% 20% 4.9% 30%
                 
                 

In 2016, the number of sales was up by 12 or 57%;  the Average Sales Price improved by 48%; the Average Sales Priceper square foot improved 29%; and, the Days on Market (“DOM”) improved by 31% or 63 fewer days in order to sell.    

There are only 2 homes listed below $200,000; at the current rate of sales (4/month in that price range), we have only about 15 days of inventory. 

The number of sales at a minimum of $400,000 or more was: 

                                                                                0 in 2014,

                                                                                2 in 2015, and

                                                                                5 in 2016. 

The bulk of the sales activity in 2016 was below the $400,000 price level where 28 of the 33 sales occurred (85%).  In 2015, 19 of the 21 sales were below $400,000 (90%).  In 2014, all 23 sales were below $400,000 (100%)!

 

LISTING INVENTORY

 

There is more inventory in 2016 than there was at this time in 2015.  There was 88 Active Listings in 2016 and only 50 in 2015.  

The Average List Price of a Residential Listing in:

  •                                                                 2016 is $558,147 or $258.00/SF. 
  •                                                                 2015 is $470,652 or $200.80/SF.

 

The level of inventory below $400,000 is 2.78 months (39 listings selling at the rate of 14/mo.).

The level of inventory at $400,000 and up is about 20 months  (49 listings selling at the rate of 2.5/mo.). 

Therefore, below $400,000, Fredericksburg has a Seller’s market; at $400,000 and up, Fredericksburg has more of a Buyer’s market. 

 

As a Seller or as a Buyer, you need REAL FACTS, not barbershop tales!  With the actual data, you can make an informed decision when you sell your home or buy your home in the Hill Country.  We do our best to be OBJECTIVE.  We do our best to give you the REAL STORY, not a pie-in-the sky story just to get your business.   And with inventory so low in many price categories, we need your listings!