Killeen Fort Hood Real Estate Market Report - First Quarter 2013

Sales figures for the first quarter of 2013 in the Killeen Fort Hood Real Estate Market show a tiny gain over the same period last year.  Last year saw 574 units sold in the first quarter 2012, while current statistics for 2013 report 586 homes sold.

Given the fact that government policies reducing the size of the military and the ongoing sequestration which also affects military and military contractors, the market seems to be fairly steady.  The second quarter of the year will really tell the story of how these policies will affect this heavily military market.

Breakdown of Sales by Price Range

Sales under $100,000 dominated the market, with plenty of investor activity taking place in that price range.   Of the total homes sold in the first quarter, 34% (199 units) were under $100,000.

The next most popular price range fell in the $140,000-$200,000 range with 33% of the market. 

Breakdown Of Sales by Type

Of the approximately 586 homes sold, 41% were existing homes, 32% were new construction, foreclosures made up 22% of the sales and other, incuding relocation sales came in at 4.6% of the total.  Please note that new home sales** listed here are only those homes listed in the MLS.  Many new home builders do not list their homes and we do not have access to their sales numbers, which are usually significant.

Financing Sources - VA Loan, FHA Loan, Conventional, Other

VA Loans continue their traditional domination as the financing choice for buyers in the Killeen Fort Hood Real Estate market, with approximately 60% of purchases financed with a VA loan.   FHA loans made up 9.5% of mortgage loans, while conventional loans financed about 14% of the market.  The strong showing in cash sales (almost 20% of the market) shows that investors are still seriously interested in income producing properties in this market.

Other statistics of interest were Average Days on the Market which stood at 132 days for the first quarter of 2013.   List Price VS Sales Price is still very steady average of 98%, where it has stood for the past two to three years.