KERRVILLE AREA SALES - OCTOBER

KERRVILLE AREA SALES - OCTOBER

November 6th, 2008 categories: Assessing the Local Market

Sales in the Kerrville area were WAY down during October. Total sales in the entire Kerrville MLS totalled $21.06 Million last October. This year, they were $12.42 Million.

The percentage decreases according to each category were as follows:

As was also seen in the Boerne area (see ARTICLE: BOERNE SALES IN OCTOBER), the Average Residential Sales Price increased ($199,413 in October, 2007 to $231,557 in October, 2008). This was NOT due to an overall increase in the market but RATHER to an increase in the value of the homes that ARE selling. The conclusion: There are fewer buyers in the lower price ranges. Not surprising given the tightening in the financial markets. Stricter guidelines, higher downpayments, and higher credit scores are now being required and that is affecting the lower priced homes the most.

For opportunities in the overall market, read my article, CONSEQUENCES OF THE BAILOUT - REAL ESTATE OPPORTUNITIES.

Just remember, in every market there are opportunities. We are seeing more and more of them each week and anticipate by the end of the year, there will be a large number of them.

If you are interested in the Kerrville/Center Point/Comfort/Boerne markets, please give us a call (830-995-2511). We’d love to hear what it is that you are looking for you and then help you find it.