BEGINNING THE YEAR ON SOME POSITIVE NOTES DESPITE 2008 REAL ESTATE SALES FIGURES - COMFORT, TEXAS

BEGINNING THE YEAR ON SOME POSITIVE NOTES DESPITE 2008 REAL ESTATE SALES FIGURES - COMFORT, TEXAS

January 8th, 2009 categories: Assessing the Local Market

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Total sales in Comfort, Texas for the entire year of 2008 were just under $8.4 Million, down $6 million (58% of the previous year’s figure). 2007 sales amounted to $14.4 million.

Upon analysis of the sales figures, here are a few interesting observations:

1. The number of sales in each category declined with Lots & Acreage having the steepest decline.

2. The average sales price declined in all categories except for Commercial. This would indicate EITHER that overall prices are being adjusted given market conditions or people are generally buying lower priced homes and properties. My feeling is that the latter is correct.

3. Last List Price/Ultimate Sales Price (e.g., the amount negotiated off the list price) was 93% for both years … meaning that a decrease in total sales has not equated to an increase in negotiations on price by the time the two parties get to the negotiating table.

Obviously, 2007 was not a good year in terms of Comfort, Texas real estate sales.

Normally, the new year tends to bring a re-start in terms of optimism. There are several new properties on the market and we have noticed in increase in activity (especially since the election). Gas prices have decreased and that re-opens the door for commuters who want to be in a small town but not too far from San Antonio. Tourism is this area has continued to be strong. There are a few new businesses that are opening their doors and we have heard of several new with plans for the future. Optimism and creative thinking is what is needed in this climate. We’d love to help you find what you are looking for. Give us a call at 830-995-2511 and we can talk about your needs in 2009.