One thing about the Fredericksburg real estate market, it is constantly changing! I checked our MLS (multiple listing service) for Gillespie County and found the following points of interest:
- We have some 800 + Active Listings, that is, inventory for sale not encumbered with a contract. This spans all types of real estate, not just residential.
- We have some 260+/- Active Residential Listings with prices ranging from $33,500 to $3,200,000. The Average List Price is $474,846.
- We are towards the end of our slowest part of the annual selling cycle. Since January 1, there have been some 146 +/- new listings. Five (5) have gone Under Contract with or without contingencies.
- While this period is generally regarded as the slower time of the year for us, the number of new listings is outpacing the number of sales.
- In the last 90 days (11/27/07 to 2/27/08), some 66 +/- listings have expired (an average of 22/month).
- According to our local appraisal district, the number of sales transactions peaked in 2005 and 2006. While there were fewer sales in 2007, the average sales price per square foot of livable area was almost $167/SF, a more than $39/SF increase over 2006.
Given this data, 2008 is shaping up to be a great year for buyers in our area! We are identifying “shiny pennies” now. That is, wonderful buying opportunities for those interested in moving to Fredericksburg. Contact us or contact one of our agents to find you a "shiny penny!"
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