BOERNE TOTAL SALES IN OCTOBER DOWN BY $2.9M

Entries for the 'Assessing the Local Market' Category

BOERNE TOTAL SALES IN OCTOBER DOWN BY $2.9M

November 6th, 2008 categories: Assessing the Local Market

Total sales were down in Boerne last month in every category. Residential sales were down (but not by much) - 94% of last year’s sales. Lots and Acreage came in very low at 36% of last year’s sales. Commercial (Improved Properties) were 90% of last year’s sales. There were NO Farm & Ranch sales during the month of October in Boerne.

The interesting piece of data: Even though the number of Residential Sales was down by 7, the Average Residential Sales Price rose from $323,850 in October, 2007 to$448,500 in October, 2008. That was NOT due to an overall increase in the market value. It was because more HIGHER priced homes were selling than lower ones.

Summary:

DOWN MARKETS: Lower priced homes, unimproved land & Farm & Ranch.

RELATIVELY STABLE MARKETS: Higher priced Homes and Commercial (improved).

In the present market, it is important to have the most up-to-date information possible. Please give us a call if you are considering a purchase or sale anywhere along the I-10 Corridor of the Hill Country (Boerne-Comfort-Kerrville Fredericksburg markets).

It would be our pleasure to serve you. 830-995-2511