There’s no shortage of action to see when you’re looking at the Texas real estate market in Canyon Lake, Comal, Guadalupe, Hays, New Braunfels, San Marcos, and Seguin counties. Let’s take a look at the market statistics for July, August, and September to find out exactly where things stand for buyers and sellers according to current trends. We’ll examine each area individually before giving you the summary of what you can expect. Being well-informed can put you ahead in the real estate race!
Canyon Lake County Real Estate Market
Canyon Lake County’s real estate seems to have improved in all the three months for in-house sales than in the previous year. July registered a sale of 89, 37.08% of the total sales of the three months. August dropped by 6.68% to 73 sales and rose up in September by 2.1% to 78 sales. The levels of housing inventory stayed well over 5.0 although there was a steady decline by 0.3 between all the three months. The median price dropped from $243,750 in July to $217,900 in August and rose again in September to $275,000, the highest of the three. Active listings have steadily dropped from July to August by 1% (386 to 375) and again by 2.1% (375 to 352).
Comal County Real Estate Market
July had a total of 350 sales, which is 35.5% of total sales of the three months. There was a drop of 3.8% to 313 sales in August and 1.0% rise in September to 322 sales. The level of inventory, in this case, was well below 5.0 except for August where the inventory increased to 5.0. July and September had a stable number of months of inventory with 4.8 in July and 4.7 in September. As for median price range, there was a decrease between July and August from $270,256 to $258,000. September had the highest median price of $275,000. Active listings increased from 1,334 in July to 1,391 in August and later dropped in September to 1,339.
Guadalupe Real Estate Market
Guadalupe’s market compared to the previous year has an increase of sales only in July. There is a 2.04% increase in the sale of houses from 278 sales in July to 294 sales in August and then a drop of 5.65% to 246 in September. The level of inventory is well above 3.0 months for all the three months with an increase in August from 3.4 to 3.6 then a massive drop to the lowest of 3.3 in September. The median price range shows a steady increase from $220,000 in July to $222,250 in August and $230,500 in September. The active listings increased by 34 from July to August and decreased by 66 in September.
Hays County Real Estate Market
Hays County market shows a steady increase in median price from last year although the sale of houses has an ‘up, down, up’ curve. When comparing the three months, there is a steady decrease from July to September. The sales decline from 391 to 371 and finally to 308 respectively. The months of inventory are slightly above 3.0, with July and September having the same value at 3.5 months. Active listings fluctuate from July to September. There is an increase from 1,096 in July to 1,121 in August and a decrease to the lowest in September of 1,077. The median price steadily drops from $266,489 in July to $250,270 in September.
New Braunfels Real Estate Market
This county has an average rise of 6.5% closed house sales this year than last year. However, when we compare the three months sale, there is a steady drop in sales from 202 in July to 177 in August and 172 in September. The months of inventory range from 3.9 in July, 4.1 in September and 4.3 in August. August has the highest median average of $230,000 while September has the lowest of $222,750. Although the active listings have all increased from last year, they rise from 628 in July to the highest of 688 in August and 660 in September. The days on the market for the house decreases steadily from 104 in July to 89 in September.
San Marcos Real Estate Market
The sale of houses in this county has increased by an average of 25.4% this quarter than last year. The average median too has increased. In comparing the three months, however, there is a drop from 71 in July to 54 in both August and September. The months of inventory are all well over 3.0 with August having the highest of 3.7 and 3.3 for both July and September. August has the highest active listing of 176 and July has the lowest of 155. July showed the lowest median price range of $210,504. September’s median price range increased to $229,500, but the highest was in August with $256,950. July has the lowest duration of 77 days, in which the houses were in the market, 98 in September and the highest of 110 days in August.
Seguin Real Estate Market
This county has registered a drop in average closed sales with a drop in all months from last year. It has a 5.27% drop. Comparing the three months this year, there is a consistent rise from 32 in July to 42 in August and 44 in September. The months of inventory range from 2.8 to 3.4 and there is an increase from July to September although there is a drop between August and September. The median price ranges in this county are the lowest of the counties represented in this report. August has the highest active listing of 131 while July and September have 107 and 108 respectively. August also has the lowest duration the houses were in the market, registering at 75 days.
What Does This Mean for Buyers?
There was an increase in the average median price, by over 7.1% from $172,600 in 2016 to a whopping $269,000 this year. The median rent price in Texas is $1,495. With the current interest rates being low, a renter may find this is the perfect time to buy their first home. Keep in mind there is a demand curve at play when you’re out house hunting. Inventory numbers are favorable for giving you options.
What it Means for Sellers
There can be a positive and negative outcome to current market trends. Some sellers may take advantage of the high market value to make top dollar from their properties while some may suffer losses if they don’t price their home competitively. From the market survey done in the seven counties above, the number of closed sales for the three months is impressive. With most transactions closing in well-below 100 days, sellers can move their homes onto the market with confidence.
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