Waco, TX

Sales in the Waco area are down from last year, but still doing well considering the state of the housing market. There were a total of 221 sales in August with a total sales of $29,003,842. The average sales price was $131,600 and average days on the market was 137.

Compare that to 265 in August of 2008. The total sales volume was $32,441,214. The average sales price was $122,419 and average days on the market was 119. So our DOM is up, but so are sales prices.

Here's a little further breakdown of sales by price range:

0-$50,000 = 28 units sold

$50-$100,00 = 71

$100-$150,000 = 55

$150=$200,00 = 30

$200-300,000 = 25

$300 - $400,000 = 11

$400,000 and up = 2

Waco Residential Market Reports—August 2009

August does it. It outshines both June and July 09. Yes, still doesn't measure up to last year, but I really like the fact that we held steady and even beat the prior 2 months. Around mid month, things were looking very slow for August, but all of the end of month sales wrapped up the month to be a little better than the prior 2.

Things do slow down typically this time of year in any market, so look for a typical decrease in sales heading into the fall.

Please take note of average and median prices. Our market shows to be stable. I believe the growth and job opportunities in our area are contributing to a great overall market which is here to stay and only get better.

Here are the figures:

August 2009**

Residential Sales: 221

Median Sales Price: 110,900

Average Sales Price: 131,601

August 2009*

Residential Sales: 260

Median Sales Price: 109,400

Average Sales Price: 122,100

July 2009**

Residential Sales: 213

Median Sales Price: 117,000

Average Sales Price: 125,188

June 2009**

Residential Sales: 219

Median Sales Price: 128,000

Average Sales Price: 154,078

*Information gathered from The Real Estate Center Website. on 09/08/09.

**Information gathered from the Waco MLS on 09/08/09. These figures may change while all sales for the month of July may not yet be reported.

This information is deemed reliable but cannot be guaranteed. Use at your own risk.

Every year on Labor Day Weekend, the city of West (about 20 miles from Waco on I35 South),has it's 34th Annual Westfest. It is a fun weekend of celebrating that areas' Czech heritage attended by an estimated 20,000 people. They have Polka Bands, Kolaches , dancers and lots of beer!

Hours of operation are 11:00a.m. to 12;30 p.m. Saturday and Sunday on the West Fair and Rodeo Grounds. There is a sneak preview Friday from 5:30 to 12:30. Admission for the preview party is $12.

Other special events are:

Crowning of Miss Westfest, 7 p.m. Friday

Westfest Parade 10 A.M. Saturday

Kolache 5000k Fun Run, 8 A.M. Sunday

Polka Mass, 10:15 a.m. Sunday

Parking is $3 per car and tickets are $8 for adults,$4 for seniors, military personnel and students. Children under 5 are free.

Today I attended the "Hour Economy", a quarterly luncheon the Waco Chamber of Commerce holds to keep members of the business community up to date on what is happening in McLennan County. I am happy to report that our unemployment rate is 7.2 compared to 5.1 last year, but the Waco Metropolitan Area has only lost 800 jobs from this time last year. That is still 2.5 % below the national unemployement level.

And many new jobs will be created in the next few months. The Waco VA Hospital just held groundbreaking ceremonies for a new post traumatic stress disorder research unit that will employ 200. The VA is also opening a national pharmacy call center in Waco which will employ 224 by next spring. L-3 Aviation, which refurbishes military aircraft, just opened a new hanger and will be hiring another 100 employees. And Allied Health Products will be opening a new diaper-making plant which will employ 115 people.

Jobs will also be created by a major face lift of the Waco Convention Center which will begin in October and take about 17 months to complete.

This time the keynote speaker was Liz Taylor from the Waco Convention and Visitors Bureau, who reported on tourism statistics. She reported that visitor spend an average of 2 days in Waco, 55% of them visiting friends and relatives, the other 45% on business. 6% come to look for real estate! They pump 5.7 million into the Waco economy and create over 4,700 jobs for hotels, restaurants and other tourism related jobs. About 77% come from within Texas and travel an average of 250 miles.

And what are they mainly coming to see? The Texas Ranger Museum, the Dr. Pepper Museum and Cameron Park Zoo . She said most international visitors come to see the Armstrong/Browning Museum and Library located on the Baylor campus.

Kind of makes you proud you live in Waco, doesn't it?

Waco Residential Market Reports—July 2009

Around the middle of July I started to think we wouldn’t meet our figures from June. Well we didn’t, but we are very close.

Still down from last year’s sales at this time as well, but that is not too surprising with all things considered. Dollar figures were nearly identical to last years in median and average sales prices, but less than June of this year.

As usual, certain areas in and around Waco are doing better than others. If you are looking to sell or buy in the Waco or Greater Waco area, it's very important to understand the trends in each neighborhood.

I can tell you that in some neighborhoods you are simply going to find much better deals than in others. And most of the best deals are NOT in the most popular neighborhoods.

I can also tell you that positioning your home properly to sell is still of the utmost importance. This means the right price and the best condition possible. Good homes for purchase are still tough to find. You want your home to stand out and be the one the buyers just can't resist.

Here are the figures:

July 2008*

Residential Sales: 249

Median Sales Price: 116,200

Average Sales Price: 127,300

July 2009**

Residential Sales: 213

Median Sales Price: 117,000

Average Sales Price: 125,188

June 2009**

Residential Sales: 219

Median Sales Price: 128,000

Average Sales Price: 154,078

*Information gathered from The Real Estate Center Website. on 08/03/09.

**Information gathered from the Waco MLS on 08/12/09. These figures may change while all sales for the month of July may not yet be reported.

This information is deemed reliable but cannot be guaranteed. Use at your own risk.